Sometime ago, I quit my job. For most, this would mean digging into your emergency savings. For me, I have arranged my side-income and passive income in such as away that it completely pays for my expenses. Therefore, even with expenses, I have been able to easily meet my obligations and even add to my Net Worth! Not too bad for not working at a day job.
How’s it going everybody this is beat the bush it’s been about a month since i quit my job and people have watched my net worth videos know that i calculate my net worth about once every single month now previously i stated that i save about a hundred percent of my job income which means that my side income my investment income all these things added together more
Than compensates for my daily living costs so it should be no surprise to you that after i quit my job that my net worth still keeps on going up now this is a very special occasion here when i was younger i just thought oh i just have to keep on working in order to bring in any meaningful amount because i have to save so much money to even come close to paying for
My day-to-day expenses now i think the greatest turning point that helped me make more and more side income investment income and passive income is that i decided on one day that you know i need to change something about this i need to at least try to make a dollar passively when you think about passive income it’s like oh sure yeah this sounds good but how do
You even go get it now let me ask you would you rather have 100 dollars of passive income every single month or would you rather work to get $1,000 at single month to me this 100 dollars is worth many many times more than that one thousand dollars because if it is truly a passive income or maybe it can last maybe three years or something it’s worth in three years
Three thousand six hundred dollars and not just that one thousand dollars sure when you start making passive income it’s gonna be really really slow but don’t be discouraged even if it’s one single penny every single month it is something and this is a starting point let me talk briefly about dividends let’s say on some certain stock you get a dividend of three to
Six percent and if you put $1,000 into it every single year you’re gonna gain yourself thirty to sixty dollars or every single month that means about three to six dollars every single month now three to six dollars every single month does not seem like a lot but this is a constant payout this is gonna be for life here so three dollars every single month for life
Is a pretty darn good deal in trade for your 1,000 dollars now starting this youtube channel has also been a source of income for me now i would not consider youtube a passive income because there is some work and maintenance work involved in it because if you suddenly just disappear from youtube and don’t do anything people are you gonna stop to wash your videos
Less and less and therefore you’re gonna get less and less ad revenue so you really have to think about the security of your job when you actually have to go in physically and be there in order to earn a paycheck let’s say you lose your only source of job income one day and you don’t have any sort of income during this downtime but you’re only supporting yourself
With emergency savings so nothing is coming in things are really shaky kind of like this jumbling tower here where you don’t have a very good foundation of multiple sources of income now when i first started thinking about these side sources of income as well as investment income it’s sort of like taking your block and building a better foundation in your jumbling
Tower it makes it a little bit more sturdy the sturdier you can get the longer you can go with a job and by the time you build it very very solidly you have many many sorts of different pieces of income coming in so solid in fact that even if you stop working like me you still have enough to support all those living expenses and then it makes it you know very very
Solid like this the security of this is immense and you can probably tell from my mood here i am a generally pretty happy person because of this type of security not before i even got all these solid sources of income coming in i tried many many different things including stock trading hoping i can appreciate a lot of principle capital i’ve always been doing ebay
And amazon to try to get some extra cash coming in but that kind of income is not a passive income it’s just kind of getting rid of your old stuff for a little bit of side cash you guys might not know this but i also try to start a website but it turns out that you gotta find yourself because for me when i did that website i felt like oh it was kind of boring it
Was slow going just as slow as this youtube channel when i first started but for some reason i liked this medium a lot more than writing articles taking pictures and not giving myself a face on a website so if you have a day job and you’re trying to add to your sources a side income you really need to pick something that you really do enjoy i tried something out
I did not enjoy so you can to also try a lot of different things and if you tried something and you find out that it’s not quite for you and you don’t really enjoy it although it does maybe bring in a little bit money if you really don’t enjoy you really should look for an alternative where you actually do enjoy i hope you enjoyed this way of thinking and start
Thinking about how to make more passive income don’t forget to give me a like on this video comment down below and let me know what your favorite source of passive income is if you’re interested in supporting this channel and helping me make more of these videos that help you out don’t forget to check out my audible link down in the video description below where
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Transcribed from video
Quit My Job But My NetWorth Kept Going Up By BeatTheBush
