Link to join StockHub free investing discord server: –~–
Good day subscribers and welcome to one of the new sets guys we have this beautiful board here today and i’m here to tell you that if you are not focusing on passive income that is a single biggest mistake you are making every single person watching this video today the number one financial focus for you for the next two to three years should be building passive
Income sources and think about who’s saying that a guy that talks about stock market investing more than anything on his youtube channel a guy that believes in stock market investing and absolutely you should care about that but i am here to tell you today that the biggest financial thing you need to be focusing on over the next few years is building passive income
And i’m here to explain some of the secrets of passive income because i feel like i’ve done a bad job really explaining passive income on this channel i don’t tell this videos about five ways to make passive income ten ways to make passive income all these different ways i even wrote a book linked in that description about 10 ways to make passive income but that’s
All great if you’re already sold on the fact that you want to make passive income right if you’re still in the fence up do i really want to try it i haven’t done a good job of that i’m here today to hopefully sell people the idea that you need to be focusing on passive income over the next few years so that’s what we’re talking about today i kind of want to reveal
Some of the secrets now if you don’t even know what passive income is massive income basically means that you can make money from something you’ve created in the past or you have money make you money that that you’ve made in the past and it makes you money into the future and it just keeps making you money it just keeps making you money over time and over time
Guys it’s just a recurring revenue stream which is versus so passive income you basically make money all the time okay you make money all the time at any time any part of the day pretty much you’re making money you’re making some kind of money whereas active income you have to be on a job you have to be doing something at that particular time so think about me with
My real estate marketing company i take photos for customers of homes going up for sale i do videos for luxury homes that are going up for sale you think about when i’m consulting with a customer all those things i have to be there for that’s all active income the income guys something you have to be there for most of you guys probably watching this work a job if
You’re not at that job you don’t get paid you gotta be at that job to get paid passive income you don’t even have to show up that day and you still make money you don’t even have to show up that week and you still made money that week you don’t even have to show up that month and you still made money that month guys that’s the beautiful thing about passive income
So i want to reveal some a few other things that i don’t think too many people take into account when thinking about passive income so the first thing is when you build a passive income source right so you build your your bubble your passive income bubble right awesome you now have a passive income source and once again i got a million videos on different ideas
On this channel i got a book linked in the description about different ideas and how to execute them so i don’t want this video to focus on ideas i want to focus on selling the proposition that you need to be focusing on passive income so you create your first passive income bubble awesome okay so you got a way of making money now active income okay let’s say you
Do an active income you create an active income so you go get i don’t know a job at walmart you go get a job at the amman does the amazon distribution you’ll get them the job at whole foods or whatever so you got an active income okay you’re probably working already 40 plus hours a week so in order to make another bubble it’s almost impossible maybe you can get a
Second job and then you’re going to be working your entire life away basically you’re gonna be working 60 70 80 hours a week which is ridiculous so maybe maybe you can have two bubbles maybe you need to have two bubbles with active income right with passive income you’ve created this one so now it’s a passive income source so you know what you can do now you can
Create a second bubble okay you focus on that one you build that passive income bubble up and you know what you can do now let’s build another one let’s develop another one over here a new passive income bubble and you know what that one’s done now and so now you have three passive income sources now let’s build another bubble over here and we’ve got a fourth and
We’ve got a fifth and we got a six and a seven 800 you can keep creating them as long as you have something to create you can keep creating passive income because you’re not limited by time time limits you on active income you only have so much time in a day you only have so much energy passive income once that this becomes passive you can focus your time and your
Attention on building the next one and then building the next one and then the next one the next one there’s a whole different ballgame when you’re talking passive income versus active income guys and that’s why there’s so much money they may be made and passive income because literally you can just keep creating sources and creating sources and keeps going and
Going now i want to reveal another secret for you guys that i don’t think anybody even thinks about wouldn’t it comes to passive income guys and i think this will i think this will really open up some of your guy’s eyes who may be our situation like i am where you have kids and you’re you’re in a situation where you know it you’re the breadwinner of the family
And you’re maybe your wife doesn’t work or maybe you’re a woman watching this and your husband doesn’t work and he takes care of the kids or whatever okay so let’s think about this for a second you die you’re the breadwinner of the family you die something happens to you begin a car accident whatever you die what happens to your family financially at that time
Immediately pretty much immediately they’re gonna have to start eating into their savings okay so you they’re in a bad situation because you were the breadwinner you’re the one that’s supposed to be making the money and you just die for whatever reason okay so maybe you say you have a life insurance policy awesome maybe you have a $100,000 life insurance policy
Maybe have 50,000 maybe you have 150,000 who knows cool that they’re gonna start eating into that and then that money will be eaten up real quick right so life insurance is something you could have but if you have passive income that could keep making them money for a long time to come right possibly years and years maybe even decades to come when you create passive
Income so you have your passive income bubbles right that we talked about in london imagine a bunch more passive income bubbles here that keeps generating money after you die if it’s truly passive income if you’re making passive income it regardless of whether you’re alive or dead that’s going to keep funneling money into some kind of bank account which is probably
Linked with your significant other so you just set them up in a much better situation your family you just set them up in a better situation that’s almost better someone’s a better than having a life insurance policy because you just keep making them money for a long time to come so then they’re not in a situation where you died and what if you don’t have a lot of
Savings what if you don’t have a lot of savings at that time you just suck them in a bad situation you just stuck your wife in a really bad situation say you got a couple kids or something if you’re making active income and you’re the active income murder everything just got asked everything just got effed bad but if you have passive income you can keep generating
Money for your family for a long time to come guys so i hope this video did a very good job explaining passive income and explaining the advantages as hit a thumbs up if you enjoyed guys i just think it’s something i’ve done a poor job of really explaining the advantages of before and i’m telling you guys this is absolutely the biggest financial thing you need to
Be focusing on over the next few years if you don’t have multiple passive income sources especially if you don’t even have one this needs to be your focus over everything coming from a stock market guy this needs to be your focus over everything financially over the next few years guys trust me on this trust me on this i’m not i’m not just up here to talk about
This to talk about this guy’s so i hope you absolutely enjoyed this video and you know what guys have a great day you
Transcribed from video
Passive Income Secrets… Passive Income 101 By Financial Education
