The TRUTH About My $57k Per Week In Passive Income

This video is about the speaker's experience with earning passive income and specifically focuses on one of their passive income sources, which is investing in dividend stocks.

This video by Joshua Mayo was published on Jul 26, 2023.
Video length: 18:13.

This video is about the speaker's passive income sources and how anyone can implement them into their own lives.

The speaker discusses their first passive income source, which is receiving dividends from owning stocks, specifically dividend stocks. They explain that not all dividend stocks are created equally and recommend focusing on buying dividend Kings or dividend Aristocrats, which have a proven history of consistently increasing dividends. The speaker rates this passive income source as requiring minimal time investment, a high initial investment, and being relatively easy to implement.

They also mention Cash App as a sponsor of the video, highlighting its features for buying, selling, and sending Bitcoin.

• Many people believe that making money is difficult, causing them to give up on their dreams of wealth.
• The speaker shares their personal experience of earning $57,000 per week in passive income.
• The speaker has built up five different streams of passive income, including investing in dividend stocks.
• Dividend stocks provide regular passive income regardless of market conditions.
• Investing in dividend Kings or dividend Aristocrats is important for reliable passive income.
• Investing in dividend stocks requires research and careful selection.
• Dividend stocks are rated 5 out of 5 for the amount of money needed to start and 1 out of 5 for the time required.
• Earning passive income through dividend stocks requires a significant upfront investment.
• Starting an automated side hustle is another way to earn passive income, but it requires more effort and time upfront compared to investing in dividend stocks.

The TRUTH About My $57k Per Week In Passive Income - YouTube

Section 1: Introduction

• The speaker discusses the false belief that making money is not easy.
• Many people give up on their dreams of making a lot of money because of this belief.
• The speaker shares their personal experience of earning $57,000 per week in passive income.

Section 2: Passive Income Sources

• The speaker explains that they have built up five different streams of passive income over the past two to three years.
• One of their passive income sources is investing in dividend stocks.
• Dividend stocks are unique because they pay passive income on a regular basis.
• Unlike growth stocks, dividend stocks provide income regardless of market conditions.
• Good dividend stocks are known as dividend Kings or dividend Aristocrats, which have a proven history of consistently increasing dividends.

Section 3: Implementing Dividend Stocks

• The speaker emphasizes the importance of understanding that not all dividend stocks are created equally.
• Investors should focus on buying dividend Kings or dividend Aristocrats.
• Dividend Kings have increased their dividends for at least 50 consecutive years.
• Investing in dividend stocks requires research and selecting the right stocks.
• Dividend stocks provide a reliable source of passive income.

The TRUTH About My $57k Per Week In Passive Income - YouTube

Section 4: Rating Dividend Stocks as a Passive Income Source

• Investing in dividend stocks takes minimal time to start earning passive income.
• A significant amount of money is needed upfront to make a substantial income from dividend stocks.
• Implementing dividend stocks is relatively easy, but it requires careful selection and research.
• Dividend stocks are a reliable and consistent source of passive income.
• The speaker rates dividend stocks as a 5 out of 5 for the amount of money needed to start and a 1 out of 5 for the time required.

Earning Passive Income with Dividend Stocks

• To earn $100 per week in passive income with Coca-Cola dividend stocks, you would need to buy about 2,600 shares of Coke, which would require an investment of about $150,000.
• Coca-Cola is considered a dividend King because they have consistently increased their dividends for the past 60 years.
• Earning passive income through dividend stocks requires a significant upfront investment.
• This method of earning passive income is rated 5 out of 5 in terms of difficulty.
• The speaker has been able to buy over $400,000 worth of Apple stock because of this passive income source.

Starting an Automated Side Hustle

• An automated side hustle is a way to earn passive income even when you're not actively working on it.
• Traditional side hustles like wedding photography require your time and are not automated.
• With the internet, it's easier than ever to start and automate a side hustle.
• Examples of automated side hustles include creating a YouTube channel, TikTok, or Instagram account related to your passion or expertise.
• Starting an automated side hustle requires more effort and time upfront compared to investing in dividend stocks.

Time and Money Investment for an Automated Side Hustle

• Starting an automated side hustle takes a significant amount of time, depending on the specific venture.
• It is not as simple as investing in dividend stocks, but it can be started with very little money.
• The speaker started their first side hustle, web development, with zero dollars.
• Adding automated elements to a side hustle, such as selling website templates, can help generate passive income.
• Starting an automated side hustle is rated 2 out of 5 in terms of initial investment.

Earning Potential and Scaling an Automated Side Hustle

• Earning an extra $100 per week with an automated side hustle is relatively easy once the ball is rolling.
• Scaling an automated side hustle can be done by selling products or tools related to your niche.
• Examples include selling courses on platforms like Skillshare or Udemy, creating Lightroom presets, or offering consulting services.
• Finding something you enjoy doing and building an audience around it is key to success in an automated side hustle.
• There are various ways to monetize an automated side hustle, and it doesn't have to be complicated.

Creating and Selling a Product or Tool

• Creating a product or tool can provide value to your audience.
• The time it takes to create a product depends on the complexity of the product.
• The cost of creating a product varies depending on the type of product.
• Creating and selling a digital product can be a relatively quick and low-cost process.
• Creating a physical product may require more upfront capital.

Making Passive Income by Renting Out Your Stuff

• Renting out your belongings can be a lucrative way to make passive income.
• You can rent out various items such as spare bedrooms, parking spots, and camera equipment.
• Websites like Airbnb, Turo, and Rent My Wardrobe can help you find renters.
• Listing your items on rental sites may require some initial effort, but once rented, minimal ongoing effort is needed.
• You don't need much money to start renting out your belongings since you're using items you already own.

Earning Passive Income through Affiliate Marketing

• Affiliate marketing involves earning commissions by promoting products or services.
• You can earn affiliate commissions by referring clients to certain providers.
• Affiliate marketing can be a significant source of passive income.
• It is possible to earn affiliate commissions even with a small audience.
• Building a strong affiliate marketing strategy can lead to consistent income.

Investing in Dividend Stocks

• Investing in dividend stocks can generate passive income.
• Dividend stocks are shares of companies that distribute a portion of their profits to shareholders.
• Dividend income can be a reliable source of passive income.
• Investing in dividend stocks requires research and careful selection of companies.
• Dividend income can be reinvested to compound wealth over time.

Section 1: Steps to Get Started with Affiliate Marketing

• Identify a topic that you are genuinely interested in and can talk about for hours.
• Create content around that topic, as content is king in the internet age.
• Produce content consistently to make an impact and reach a wider audience.
• Affiliate marketing can be done through various mediums, such as YouTube videos or simple TikToks.
• Find relevant affiliate programs by searching for the company name followed by "affiliate program" on Google.

Section 2: Time, Cost, and Earning Potential in Affiliate Marketing

• Building a consistent income with affiliate marketing takes time, especially if you are creating content online.
• It is important to be patient and build your audience by providing value.
• Joining an affiliate program is free, so there is no cost to start making money with affiliate marketing.
• Earning $100 per week with affiliate marketing is relatively easy, as it may only require a few sign-ups for the promoted product.
• Affiliate marketing has the potential to generate significant passive income, with some people earning millions of dollars per year.

Watch the video on YouTube:
The TRUTH About My $57k Per Week In Passive Income - YouTube