Passive Income: Starting With Just $250

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Passive income might be the 2 most overhyped words on the internet. At the same time though, there are some serious and legitimate ways to build passive income sources. If you can successfully build passive income streams, they are an incredible way to build long-term wealth.

In this video, I talk about a few of the most stable, secure passive income sources which you can start with just $250.

We begin with real estate investing... and I know what you're thinking "I can't invest in real estate with $250!!". While you can't buy a property with a few hundred dollars, you can invest into a REIT (Real Estate Investment Trust). REITs are essentially a large bundle of properties.

And there are some advantages of investing in REITs vs real estate that you manage yourself. When you invest into a REIT, you're buying a well diversified mix of real estate; you can't normally do that with just a few dollars. As the shares of a REIT trade on stock exchanges, you can buy and sell in a matter of minutes; far easier than traditional real estate.

Index and dividend investing are also great ways to build wealth. What's an index? Think about it like this - imagine you decided that you want to invest in the stock market but you don't know which companies to choose - what should you do? The best thing you can do is to buy a collection of the largest companies in the market. Don't try to pick the winners or the losers - just bet on the market rising by owning the whole market. This is index investing.

For example, the S&P 500 contains America's 500 largest companies. If you buy this, you're basically banking on the American stock market to rise. If you buy the Nasdaq composite, you're basically banking on America's tech companies to grow.

Dividend investing is very similar to index investing, except you pick out companies that pay their investors a portion of their profits every 3 months.

Many of us think of making money as better than saving money but, every $10 in your bank is $10 - it doesn't matter if you saved that money or made it. It's all the same. Over the past year, I've been using the Honey browser plugin to automatically scan the internet for coupon codes. It takes one click to save hundreds of dollars each year.

If you don't have any money to start with, you can build passive income streams by putting in hard work upfront. The best method around is to build an audience; this can be on YouTube, or any other platform (but YouTube is my favourite). As you build a library of content, your past videos will continue to bring in views and earn you passive income.

Building a course is also a favourite of many YouTubers. You put in the effort upfront to build it, but then there is no more effort required. Here's the thing, if you are going to build a course, pack it so full of quality that your audience is delighted that they purchased it. Don't be someone who over-sells and under-delivers. In life, how you treat people is how they'll treat you. Show your audience the respect they deserve. As a guide, I've spent the last 6 months planning a course but still haven't released anything; when I do, I want to be proud of it and offer you so much value that you love it.

Passive income is great if you can avoid listening to the fake gurus who have given it a bad name!

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00:00 Start here
02:02 Two Types Of Passive Income
03:01 Real Estate Investing
07:27 Index Investing
11:11 Dividend Investing
13:07 Honey Browser Plugin
14:30 The #1 Investment
15:31 YouTube
18:43 High Quality Courses
19:51 Cross Platform Income

👋 ABOUT ME
I'm Tom. I graduated university and realised I spent 4 years studying something I wasn't passionate about... I know, I probably should have realised a bit sooner. So I've spent the years since pursuing my true passion; educating people about personal finance and investing.

I'm not the best on camera but, if you can overlook that, I hope to teach you about the important skill of finance with 2 videos per week; on Tuesdays and Fridays. I hope you follow along for the journey 🙂

📧 BUSINESS ENQUIRES
tomheaveybusiness@gmail.com

DISCLAIMER
This is not financial advice. The speaker is not a qualified financial advisor. These videos are intended for entertainment and general information purposes only. Nothing herein shall be construed to be financial, legal or tax advice

Видео Passive Income: Starting With Just $250 канала Tom Heavey