I have 6 of these 7 incomes monthly. But keep in mind. Most of them takes years to build up, hard work and time. To get rich you need patience and self-discipline. Thats why the majority never even reaches above 2 income streams.
@@Killingtime69 Its really not that hard to get all 7 income-streams. But getting them up at high numbers is. Do what Warren Buffet advises people. READ, READ, READ. Start with a nice habit of reading at least one book every month. Important books, not fiction. Good habits is the key to success. And self-discipline is the master-key to unlock it. Start small. Get in the habit of changing from bad habits to good habits. Setup a smart scheduled and goals every week, month and year. And never procrastinate. Instead do at least one small thing that day. It will help you and your confidence. And always delay gratification. Goes without saying but; save money and buy properties, index funds, assets - never buy liabilities. Change your mindset from how the poor think to how the rich behave. Good luck!
Thank you for your advice . Most people me included love to jump from where they are to a tycoon , which is disappointing , you need to go step by step brick by brick .
Job- Earned income Business - flip or produce products Bonds - lend money to bank, business or government Stock dividend- invest in business Rental income - real estate/ lend property for money Royalties- books, movies, music Capital gains- appreciation of stocks and real estate - Increase network tax free.
“Do not wait; the time will never be ‘just right.’ Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.” -George Herbert Agree? -then give 👍 Not Agree? - Tell me why in 💬
Cryptotrading* seems to be the best alternative for financial backup mostly when it comes to Bitcoin trading.... But my advice is for traders not just to invest and trade blindly with wrong strategy or signal, for me trading has been so profitable because I was guided by a pro trader Known as *Sir Robert Johnson* with his working strategies turn out to be one of the best in the investment world. During my first month I was able to accumulate and grow from $5450 to $21350 which you will agree is a good profit, I will advise everyone who is willing to grow a very strong portfolio to make use of Robert Johnson's strategies. he can be reached via WhatsAap *(+1. 3. 4. 7 6. 7. 6. 2. 9. 6. 5.)* for guidance and inquiry on trading profitably.
Being successful don’t happen by magic Success is dependent on the action or steps you take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be 💯 guaranteed.
@@jeffreyneesmith4953 I agree e with you 💯 .. I had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment
@@jeffreyneesmith4953 NOBODY BECOMES A MILLIONAIRE OR BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRINGS MILLIONS OF DOLLARS AND CONSISTENCY BRINGS BILLIONS. THE MARKET IS ALL ABOUT CRYPTO NOW YOU MIGHT WANT TO LOOK INTO IT
@@helenadams4641 True, there is never any culture of wealth gathering or wealth creation to keep multiplying your finance that lack an investment value. This means, if you have to plan you must be an investor. that's why Investing in crypto stands to be the best
@@helenadams4641 The only credible law of increase is investment because money not invested has no future. I make huge profits on my crypto investment since i started trading fx with Mr Kelvin Maorgan, his trading strategies are top notch.
The problem is that the school system is designed to create workers, which is exactly why so many people get stuck in the Rat Race. Educate yourself on these subjects and you will be part of a succesful minority
I’m 14 and i already decided that I wanna be a millionaire, I’ve watched tons and tons of Financial videos but none has been as good as this won, thank you so much 😁👍
Dr Entertainment I’m becoming a nuclear physicist but I want to majorly invest in stocks and bonds also real estate so I can make more money to put back into the system
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.
1. 0:45 Earned/ Active Income 2. 1:58 Profit Income/ Entrepreneur 3. 3:58 Interest Income 4. 4:32 Dividend Income 5. 5:20 Rental Income 6. 6:00 Residual and Royalty Income 7. 7:21 Capital Gains
Taxes on capital gain and others are much less that percenrage of taxes on earned income . With all love and appreciation to all people , A doctor , a teacher , a lawyer , a construction worker, a farmer could benefit the society more or less like a capitalist or a very wealthy .No one denies that some capitalists are great philanthropists like Warren Buffet who has contributed 24 billions dollars in charities. My point , wouldn't be it more equitable or fairer if the very wealthy capitalists or very big corporations in the world ( not only in the USA ) would pay the same percentage of taxes as do the workers , teachers , doctors and lawyers ? This is a world dream and not only an American dream .The world dream , is that those who work for the greater good of humanity and produce the goods and services for all humans to live by , really deserve a more equitable and just taxation system . This would increase equilaity in the world . I know that the large capitalists and entrepreneurs of the world like Mark Zuckerburg or Jeff Pesoz are very smart and have contributed to the development of our world and they are great achievers and the managing brains, but all working people deserve better justice in have a fairer taxation system which is more evenly distributed in the whole planet ... However , I agree that everyone is capable of making an improvement in his or her capabilities, whether it is training our minds and souls to be more creative or learning or discovering new skills or methods in investing or trading or producing better products and services. If he or she learns better ways to investing in long term dividend paying stocks and buying stocks at reasonable prices , he or she could earn a greater income . He or she could buy bonds or lend to companies they trust to earn higher interest on bonds that have great degree of safety. Everone could make books to sell or make videos to monetize or a blog that could pay him always even if he or she stop working . I agree that passive incone is great and we have responsibilities to make self-development , but We have a responsibility to become aware that any average individual has the right for tax laws that are more reasonable and more just . Love to all from Lebanon .
I have 3 streams of income now at the age of 26. Regular work place, dividends and rental income from real estate. Wondering, and working on what my 4th stream of income should be.
@@milliondollascrilla7995 Mostly Norwegian stocks. You most likely wont know them.. ELKEM, producer of silicone(silisium?) and silicones for a variety of speciality products. MOWI, salmon farming company. B2 Holding, debt collector company with a forward P/E of about 6.x. High risk. And some local banks that pays a handsome divident yield:)
Hi my nname is Derrick, i'm 26 years from uganda.. and really want to change my life. I have 1 source of income, my job. How can i be able to tap into the dollar industry.. cz i deal with shillings everyday if my life and the value is so small.. i'm willing to give up all my salary which is about $320 a month, for something meaningful..
How do you generate cash flow? I'm thinking of getting an investment house for my first house by 22-23 while working 2 jobs, I'm 18 right now. What do you think??
First thing I would recommend is investing in yourself. Be laser focus on a goal, yearly goal, then break it into monthly goal, then daily goals. it's not good jumping around doing multiple things. For example investing in high income skills. Skills that can generate high income. And it isn't a job. Side hustle asset, studying that. And also accounting to get an idea of how business works. Then I work too... I'm young like you. 18years old too... I want to get into real estate. Have linear income right now and will eventually income chart be majority leverage and passive income. I've jumped around trying to study marketing, economics, shares, real estates, high return investments, online businesses etc I didn't know where to start. I want to have multiple streams of income yes eventually. But if I were you I would be laser focus on few things... And then expand later. My opinion. No need to take my opinions seriously. I'm still learning. Ty
@@jaypac1811thank you so much was very helpful. I started reading Rich Dad poor Dad by David and now I track where my money is going for example I make $1112 AUD a month and I used $50 for uber and $50 for hanging out with my friends (=$100 for self). I plan to start putting money aside for a rainy day ($150-200) while saving the rest of money for investment into the future. What do you think
I am 18, my earned income is being a waiter, I want my profit income to be on eBay and selling whatever sells the fastest, my interest income is my crypto where I have a certain amount collected and will pay me interest per year, I have dividend stocks paying me quarterly, I want to become a real estate investor in the future, I also want to become a singer/songwriter and sell my music, and finally, in the best future, will sell some stocks for capital gains
Mutual funds looks like safe bet. Real estate is good option if one has time to look after it. Business needs investment as well as luck to turn it into a profit
Less than 4 years ago, I had zero to one of these (depending on the job situations). Now I have 3 of these and am working on Interest Income now. Need to pay down some debt that's built up overtime to work on my favorite of these (Rental Income), albeit it is a form of income which requires capital as well as hard work (the payout is nice, though). I am also about to double Earned Income. If you had told me I would be in this position 5 years ago, I would have laughed.
But be aware brothers. . Don't try to build more than one stream of income simultaneously.. you focus all your concentration on one and just one business till you master it and you become rich.. yes rich.. then you can jump into an other domain.
I also agree. Takes great time and energy to get a good strong stream of income going. After I had my 9 to 5 job paying well I moved into rental properties.
Wish they would teach you this in high school. I’m 33, married, mom of 1 & feel I could have building this in my 20s. But focused on getting through grad school (finished my doctorate last year).
Im really struggling with creating passive income. Takes money to make money. I need to work like hell and save up so I can have money to start with. This video is extremely helpful.
I do every one of these..except for #6...i don't have any residual income coming in. Dividends is the one I like the best, second is capital gains on stocks.
Thank you for responding. Yes, your video will be something that I will be reviewing because although I am familiar with the concept of multiple sources of income I was unaware of all of the different types. Thanks again
Prince Kid RUclips (adsense, amazon affiliate links, Patreon rewards) , Stocks, Interest from high yield savings account, and when I build enough money from the savings account I’ll transition that money into real estate. Currently saving ~40% of my money.
I don’t think RUclips is an example of residual and royalty income because you still need to create content for the viewers hence more work needs to be put in. The lower your subscribers the lower your chances of a high income
And don't forget the sale of marihuana as income. The state of Massachusetts collects $110 million annually in sales tax and no one knows where that revenue get allocated.
@@TheBetterMenProject please do. I normally listen to the videos 10times daily. And its easier with the background music. So now im only watching the ones with music over and over again lol
please dont. i was wondering why i was so drawn to this video. i find background music distracting. actually, i even wonder what its purpose is supposed to be.
@@symposium_bw9757 i have alot of people i share them with and they feel that it makes info videos and a little background music mix well. They feel it makes them easier to watch. I always heard music brings life to the party. Alot of these other channels have the background music as well. 🤷♂️
Taxes on capital gain and others are much less that percenrage of taxes on earned income . With all love and appreciation to all people , A doctor , a teacher , a lawyer , a construction worker, a farmer could benefit the society more or less like a capitalist or a very wealthy .No one denies that some capitalists are great philanthropists like Warren Buffet who has contributed 24 billions dollars in charities. My point , wouldn't be it more equitable or fairer if the very wealthy capitalists or very big corporations in the world ( not only in the USA ) would pay the same percentage of taxes as do the workers , teachers , doctors and lawyers ? This is a world dream and not only an American dream .The world dream , is that those who work for the greater good of humanity and produce the goods and services for all humans to live by , really deserve a more equitable and just taxation system . This would increase equilaity in the world . I know that the large capitalists and entrepreneurs of the world like Mark Zuckerburg or Jeff Pesoz are very smart and have contributed to the development of our world and they are great achievers and the managing brains, but all working people deserve better justice in have a fairer taxation system which is more evenly distributed in the whole planet ... However , I agree that everyone is capable of making an improvement within his or her capabilities, whether it is training our minds and souls to be more creative or learning or discovering new skills or methods in investing or trading or producing better products and services. If he or she learns better ways to investing in long term dividend paying stocks and buying stocks at reasonable prices , he or she could earn a greater income . He or she could buy bonds or lend to companies they trust to earn higher interest on bonds that have great degree of safety. Everone could make books to sell or make videos to monetize or a blog that could pay him always even if he or she stops working . I agree that passive income is great and we have responsibilities to make self-development , but We have a responsibility to become aware that any average individual has the right for tax laws that are more reasonable and more just . Love to all from Lebanon .
May be to make people shift from Not investing into market and spending To go and invest A This way there will be better utilization of resources and market will have money flowing more and more Making development faster If workers dont have to pay tax than they will not change there life I guess maybe this is the reason
@@firefox9556 A great point of view and I think each person would have to take responsibility for whatever he or she thinks , plans and does in all areas of life despite the fact that people should be more aware of their rights as well their duties ...
@@waelfaraj6705 the thing is bro Everyone want to be rich and exploit resources (thanks to movies and social media fake lifestyle)but nobody want this world to be a better place Global wealth is 317 billion dollars And people are more than 7 billion Anyway if on avaerage we see For every persin there is 50k that means if managed wisely Whole humanity can life happily and enjoy and work together to make world a better place but No they want to be bad Now its all left is what is i Not we And what u can accumulate Not serve Not give Thats sad But if this world survives right now Only because of the people who serve and think about whole humanity Other responsibility extends to all animals and life forms and also earth Not only that Everyday lots of scientist are reporting What will hapoen if we didnt stop exploting resources Pollution,poppulation ,global warming,poverty corruption There a lot to think ,worry and to do But people life ends at money Look at elon He had money but doing everything to save humanity by making it a interplanetary species There are lots of people dying in africa Search africa water crisis By 15 april They wont have any money left but still People need to learn Moral values Financial education is missing in schools but Moral education is missing everywhere Thats why people arent happy and satisfied If u like it dont like it Help other humans and tell them to help others and say the same to them That dont say thanks help more and. Ask them to help more and ask others they help to ask others to help and same
Thank you for the video. Growing up I've always seen myself buying an apartment complex or house, and renting it for passive income. But I have yet to get there. This has reminded me to always keep thinking about the future and educating myself/ acting on my ideas
Happy to help man, we’ll see what we can to to make those videos happen
4 года назад+1
You have to believe in yourself and be confident with time because long hard work becomes something big I don't care if people say my idea will never work or negative thoughts brings me down.....I keep sticking by my idea because you never know what will happen if you don't try it
I live in India and I'm trying start a business firm which I want to do with me already working at a job...I was getting depressed because of how much the time is taking...but after watching, I'm feeling better...keep doing these videos
Thanks for the video. When I sell "sponsored posts" on my youtube channel, is that considered Profit Income? (but I'm not buying and selling something, just selling advertisement space on my videos)
I've done all of these except royalties and dividends. I think I'll give dividends a try once the stock market finishes its bounce down. Maybe in a couple years. I've removed earned income, but I might also add a little of that back to increase the amount available to me to invest in some of the others. Good video.
Look at the world we live in. Earned income should not be the higher tax bracket! But it is for a reason.. Great video though 😃 in this day and age I feel you need at least 10. Lol
As far as interest income goes, you can do 10% better than you stated. You already loan money to a bank by leaving cash in there. Loan money to projects secured by real estate, which is a mortgage. Simply buying specific typed of funds, like an REIT can give you security through diversification because an REIT is usually involved in many different aspects of real estate at once. For example, holding property for a long term big gains, parking lots, commercial rental, senior housing, residential rental, all blended. Personally, I would advise that everybody skip any sort of business that directly involves employees unless you want another headache. Laws keep changing as does the employee expectation and that is two more variables plus extra management costs. Unless you really know what you are doing, you will lose a lot of money playing that game. @Mindprovement. Not necessarily. Crowdfunding allows lower access cost to each type of income and can provide the type of experience you may need to advance. It also allows you to access higher return investments with a lower cost. Higher cost investments usually have higher returns but are financially inaccessible for a lot of people . Crowdfunding, Joint Ventures and Syndicated investments can allow you access to the better investments at the cost of a bit of interest because the management costs increase due to the increased amount of investors, but you can hit multiple projects with less money in each to mitigate risk.
Royalties. Work once make a hit and then sit back and relax. Gains with zero risk. Life doesn't get any better than that. Well, maybe a substantial inheritance? Which you didn't mention btw, How is that taxed, as income?
@@hamzah.7317 it's completely accessible, you just don't have the ideas for the product you could sell off at a royalty, which is literally any product you design that sells well enough to gain attention of other business owners.
So what happens for example, when said product is bought and you establish a royalty deal. If that product doesnt do well in the market or the new owners of that product sell the company over or even go bankrupt? Do you lose those royalties?? If that makes sense.
![KAYTRANADA - Witchy (feat. Childish Gambino) [Official Video]](http://i.ytimg.com/vi/jGK3YVmGZ3Y/mqdefault.jpg)
It is great to have several streams of income, but you do not build them up simultaneously.. You build them one by one.
Very good point!
Yes , exactly ...
True, this is a big mistake i see people making regularly
*absolutely. Because create multiple sources of income at the same time. Show that you have not managed greed*
This is false, you build up dividends and capital gains at the same time as all of the above.
when a video is more useful than 4 years of college education...
Lol how
Frank West your mum should see this comment...👌😂
Good one. 👍🏻👍🏻
But do remember that it’s the college degree that gives you the first chance of first type of income.
@@anaghatal3292 that is changing now. companies hire based on skills not grades
That’s why you don’t major in bad trades lmao
I have 6 of these 7 incomes monthly. But keep in mind. Most of them takes years to build up, hard work and time. To get rich you need patience and self-discipline. Thats why the majority never even reaches above 2 income streams.
Hook me up lol
@@Killingtime69 Its really not that hard to get all 7 income-streams. But getting them up at high numbers is. Do what Warren Buffet advises people. READ, READ, READ. Start with a nice habit of reading at least one book every month. Important books, not fiction. Good habits is the key to success. And self-discipline is the master-key to unlock it. Start small. Get in the habit of changing from bad habits to good habits. Setup a smart scheduled and goals every week, month and year. And never procrastinate. Instead do at least one small thing that day. It will help you and your confidence. And always delay gratification. Goes without saying but; save money and buy properties, index funds, assets - never buy liabilities. Change your mindset from how the poor think to how the rich behave. Good luck!
Bigboss304323 very true you need to be willing to abnormal and not fit in.
Thank you for your advice .
Most people me included love to jump from where they are to a tycoon , which is disappointing , you need to go step by step brick by brick .
@@spotdiagnosis7148 good to see someone that understands that wealth takes Years Even decades to get to the point of financial independence
Job- Earned income
Business - flip or produce products
Bonds - lend money to bank, business or government
Stock dividend- invest in business
Rental income - real estate/ lend property for money
Royalties- books, movies, music
Capital gains- appreciation of stocks and real estate
- Increase network tax free.
Thank you!
“Do not wait; the time will never be ‘just right.’ Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.” -George Herbert
Agree? -then give 👍
Not Agree? - Tell me why in 💬
Home Business University thank you great quote 💯
Hey dude will you help me
Cryptotrading* seems to be the best alternative for financial backup mostly when it comes to Bitcoin trading.... But my advice is for traders not just to invest and trade blindly with wrong strategy or signal, for me trading has been so profitable because I was guided by a pro trader Known as *Sir Robert Johnson* with his working strategies turn out to be one of the best in the investment world. During my first month I was able to accumulate and grow from $5450 to $21350 which you will agree is a good profit, I will advise everyone who is willing to grow a very strong portfolio to make use of Robert Johnson's strategies. he can be reached via WhatsAap *(+1. 3. 4. 7 6. 7. 6. 2. 9. 6. 5.)* for guidance and inquiry on trading profitably.
Never stop dreaming. Be hungry and never stop believing in your dreams. If someone can do it, you can do it. Be strong
Being successful don’t happen by magic
Success is dependent on the action or
steps you take to achieve it. Show me
a man who doesn't have an investment
and I will tell you how soon he'll go broke
Investment is building a safe haven for the
future: with the right choice of investment
that has at least 1% minimum risk and
with an Expert guidance, profit and interest
should be 💯 guaranteed.
@@jeffreyneesmith4953 I agree e with you 💯 .. I had a senior
colleague at work who was doing well but
never had an investment. Unfortunately he
lost his job and went from living a
comfortable life to hardship. There would
had been something to fall back on if he
had an investment
@@jeffreyneesmith4953 NOBODY BECOMES A MILLIONAIRE OR BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRINGS MILLIONS OF DOLLARS AND CONSISTENCY BRINGS BILLIONS. THE MARKET IS ALL ABOUT CRYPTO NOW YOU MIGHT WANT TO LOOK INTO IT
@@helenadams4641 True, there is never any culture of wealth gathering or wealth creation to keep multiplying your finance that lack an investment value. This means, if you have to plan you must be an investor. that's why Investing in crypto stands to be the best
@@helenadams4641 The only credible law of increase is investment because money not invested has no future. I make huge profits on my crypto investment since i started trading fx with Mr Kelvin Maorgan, his trading strategies are top notch.
Very informative video. I have earned, profit, passive and royalty income. This should be taught in school.
Yes steena! 🤔
The problem is that the school system is designed to create workers, which is exactly why so many people get stuck in the Rat Race. Educate yourself on these subjects and you will be part of a succesful minority
@@iimJacKaL u a real one 💯
Someone just quoted Robert lmao
How did you earn your royalty income?
It's important to note that you don't have to be rich to set these up! Anyone can do it, just work hard and always be learning!
100% agree
The benefit of continuous learning is rarely fully recognized.
I’m 14 and i already decided that I wanna be a millionaire, I’ve watched tons and tons of Financial videos but none has been as good as this won, thank you so much 😁👍
Happy to help brother. I’ll see you at the top
15 but same
16 but same
What are you going to o to become a millionaire
Dr Entertainment I’m becoming a nuclear physicist but I want to majorly invest in stocks and bonds also real estate so I can make more money to put back into the system
I'm working hard to grow my income, intelligence, social abilities, and physical fitness. Rapid growth 2019💪
Love it !
good luck for you
how is it going?
@@TheBetterMenProject thanks man💪
@@thesecretofsuccess9781 thank you💪
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.
I totally agree with you
I have been trading offshore. I'm yet to make my first $5000, any recommendable expert to trade with?
Rather get an expert to trade with giving you the required mentorship for a successful profit outcome.
piece of advice
But I learnt the hard way, blowing over $3,000 account side trading with no mentor or expert
I am new to trading and my presumptions is that I will be needing an expert as you would lose all your capital and you drop off the market
I found this more interesting than school, who else agrees with me? love your videos
Thank you, we got many more coming soon 👍🏻
I have 5 out of 7 incomes right now. Developing the 6th one... Good to learn that I am on the right track
Parth AD that’s awesome 💙
1. 0:45 Earned/ Active Income
2. 1:58 Profit Income/ Entrepreneur
3. 3:58 Interest Income
4. 4:32 Dividend Income
5. 5:20 Rental Income
6. 6:00 Residual and Royalty Income
7. 7:21 Capital Gains
This was a nice and well explained video, thanks.
Taxes on capital gain and others are much less that percenrage of taxes on earned income .
With all love and appreciation to all people , A doctor , a teacher , a lawyer , a construction worker, a farmer could benefit the society more or less like a capitalist or a very wealthy .No one denies that some capitalists are great philanthropists like Warren Buffet who has contributed 24 billions dollars in charities.
My point , wouldn't be it more equitable or fairer if the very wealthy capitalists or very big corporations in the world ( not only in the USA ) would pay the same percentage of taxes as do the workers , teachers , doctors and lawyers ? This is a world dream and not only an American dream .The world dream , is that those who work for the greater good of humanity and produce the goods and services for all humans to live by , really deserve a more equitable and just taxation system . This would increase equilaity in the world . I know that the large capitalists and entrepreneurs of the world like Mark Zuckerburg or Jeff Pesoz are very smart and have contributed to the development of our world and they are great achievers and the managing brains, but all working people deserve better justice in have a fairer taxation system which is more evenly distributed in the whole planet ...
However , I agree that everyone is capable of making an improvement in his or her capabilities, whether it is training our minds and souls to be more creative or learning or discovering new skills or methods in investing or trading or producing better products and services. If he or she learns better ways to investing in long term dividend paying stocks and buying stocks at reasonable prices , he or she could earn a greater income . He or she could buy bonds or lend to companies they trust to earn higher interest on bonds that have great degree of safety. Everone could make books to sell or make videos to monetize or a blog that could pay him always even if he or she stop working . I agree that passive incone is great and we have responsibilities to make self-development , but We have a responsibility to become aware that any average individual has the right for tax laws that are more reasonable and more just .
Love to all from Lebanon .
Thank you !
You make a great point Wael, I agree, the tax system gives major tax breaks to many of the wealthiest companies in the world
I have 3 streams of income now at the age of 26. Regular work place, dividends and rental income from real estate. Wondering, and working on what my 4th stream of income should be.
That’s great man, keep hustling!
I m 26 too. And struggling to keep my actual 2 source of income away from trouble. But i know what i should do and i m on my way
What stock did you invest in?
@@milliondollascrilla7995 Mostly Norwegian stocks. You most likely wont know them..
ELKEM, producer of silicone(silisium?) and silicones for a variety of speciality products.
MOWI, salmon farming company.
B2 Holding, debt collector company with a forward P/E of about 6.x. High risk.
And some local banks that pays a handsome divident yield:)
Hi my nname is Derrick, i'm 26 years from uganda.. and really want to change my life. I have 1 source of income, my job. How can i be able to tap into the dollar industry.. cz i deal with shillings everyday if my life and the value is so small.. i'm willing to give up all my salary which is about $320 a month, for something meaningful..
In our world today, it is becoming more important to diversify our income! Strive to create and you will get there! :)
Agreed! ☝🏻
Take a shot everytime he says income
*dead after first minute*
How do you generate cash flow? I'm thinking of getting an investment house for my first house by 22-23 while working 2 jobs, I'm 18 right now. What do you think??
First thing I would recommend is investing in yourself. Be laser focus on a goal, yearly goal, then break it into monthly goal, then daily goals. it's not good jumping around doing multiple things. For example investing in high income skills. Skills that can generate high income. And it isn't a job. Side hustle asset, studying that. And also accounting to get an idea of how business works. Then I work too... I'm young like you. 18years old too... I want to get into real estate. Have linear income right now and will eventually income chart be majority leverage and passive income. I've jumped around trying to study marketing, economics, shares, real estates, high return investments, online businesses etc I didn't know where to start. I want to have multiple streams of income yes eventually. But if I were you I would be laser focus on few things... And then expand later. My opinion. No need to take my opinions seriously. I'm still learning. Ty
@@jaypac1811thank you so much was very helpful. I started reading Rich Dad poor Dad by David and now I track where my money is going for example I make $1112 AUD a month and I used $50 for uber and $50 for hanging out with my friends (=$100 for self). I plan to start putting money aside for a rainy day ($150-200) while saving the rest of money for investment into the future. What do you think
i subbed after that vid ...thanks man im 18 going 19 right now and i think this was very helpful
Welcome to the family brother,
let’s dominate your 20s💪🏻
I am 18, my earned income is being a waiter, I want my profit income to be on eBay and selling whatever sells the fastest, my interest income is my crypto where I have a certain amount collected and will pay me interest per year, I have dividend stocks paying me quarterly, I want to become a real estate investor in the future, I also want to become a singer/songwriter and sell my music, and finally, in the best future, will sell some stocks for capital gains
Real estate is the route for me!
Great video!
Love it!
Me to :)
Go get it sis 😎
Sadly I only have earned income. Working on my second stream
Remember, the average millionaire has 7 streams not 7 types. You don’t need to have all
👆🏻
What do you mean?
He means you can have 2 of the same type for exsample haveing 2 jobs is 2 streams of income even thogh there in the same catagory
nice i am starting with youtube so i can create at least 1 piece of passive income
@@missionnoel6753 buffett said that he'd be happy with 3 good stocks that's what he meant.
Don’t call it a comeback , great video and good to have you back
Thank you Kev, I appreciate it
Why does the narrator seem like he needs to burp?
Lol
Who's watching this in 2020? 🙋
🙋
I want to thank you for doing this video. Great and useful information you have shared.
Glad you found it useful. Thank you for watching!
I have both, active income and passive income. Getting older, I strengthen my passive income.
That is great!
@semuapenuh whats your passive income
Mutual funds looks like safe bet. Real estate is good option if one has time to look after it. Business needs investment as well as luck to turn it into a profit
I want to take the path of real estate, bonds, dividend, youtube channel, vending machines.
I have earned income, rental and dividend income. Plan on getting rid of the earned and adding some others😄
What others are you thinking of adding? I’m in Network Marketing. Yes, you have to work in the beginning but you’ll be laughing your way to the bank.
Less than 4 years ago, I had zero to one of these (depending on the job situations). Now I have 3 of these and am working on Interest Income now. Need to pay down some debt that's built up overtime to work on my favorite of these (Rental Income), albeit it is a form of income which requires capital as well as hard work (the payout is nice, though).
I am also about to double Earned Income. If you had told me I would be in this position 5 years ago, I would have laughed.
Good job man! Let focus on getting that passive income up 💪🏻
But be aware brothers. . Don't try to build more than one stream of income simultaneously.. you focus all your concentration on one and just one business till you master it and you become rich.. yes rich.. then you can jump into an other domain.
Correct!
I also agree. Takes great time and energy to get a good strong stream of income going. After I had my 9 to 5 job paying well I moved into rental properties.
100 perc correct
Agree, most importantly you need to be stable with your top income stream
Cool advice! :) and would you explain why it's not convenient to build them simultaneously?
Great and informative video! 👍 If only they taught this at school.
Wish they would teach you this in high school. I’m 33, married, mom of 1 & feel I could have building this in my 20s. But focused on getting through grad school (finished my doctorate last year).
That is a great accomplishment! You’ve invested in yourself
These incomes convinced me that sometimes hardwork can really beat talent. 🙏👍
ja E and work smart not hard lol
Jhon.E agreed 💙😭 that’s why employees become employees
Excellent
Thank you for being a great inspiration!!!!
pspol I’m here with you 💙
You can also promote products at Shopatronics and they will pay affiliates a commission for each sale
Im really struggling with creating passive income. Takes money to make money. I need to work like hell and save up so I can have money to start with. This video is extremely helpful.
everybody starts with regular job, just need patience and discipline to invest it all
It doesn't take money to make money, it just adds more fuel to the fire, but if the fire isn't lit to begin with what will more fuel do to it
Borrow
I currently have two streams of income. Active and passive. Job and dividends. Trying to figure out what else to do.
Do not be stuck into the rate race for too long
Aristote Kalenda trust me, i wont :3
My goal is to have multiple streams of income one day. 🔥🔥🔥🔥🔥🔥
Amazing video! I’m feeling super motivated
I do every one of these..except for #6...i don't have any residual income coming in. Dividends is the one I like the best, second is capital gains on stocks.
I have added most of them working on royalty and rental property
*Reap the Residuals*
Great video for explaining different business terms and worth reviewing from time to time. Thanks
Thank you, glad you found the video useful
Thank you for responding. Yes, your video will be something that I will be reviewing because although I am familiar with the concept of multiple sources of income I was unaware of all of the different types. Thanks again
I'm heavily developing my passive income at the moment!
That’s great! Keep at it brother 💪🏻
Passive income is the key to early retirement. Though Idk what retirement is
Do you mind if I ask what passive income you are doing?
Prince Kid RUclips (adsense, amazon affiliate links, Patreon rewards) , Stocks, Interest from high yield savings account, and when I build enough money from the savings account I’ll transition that money into real estate. Currently saving ~40% of my money.
@@InvestingBookSummaries what about forex trading,its really lucrative
People just watched this video because of covid-19 wishing they had multiple streams of income now im wishing the same
What looks good to me is residual and royalty Income-must write that book! Thanks for the information.
Get the book out there Victoria!
I don’t think RUclips is an example of residual and royalty income because you still need to create content for the viewers hence more work needs to be put in.
The lower your subscribers the lower your chances of a high income
He doesn’t necessarily have to keep on creating content. He could just leave and his channel would still get views.
Brilliant video
Thank you, glad you found it useful
@@TheBetterMenProject Always
And don't forget the sale of marihuana as income. The state of Massachusetts collects $110 million annually in sales tax and no one knows where that revenue get allocated.
What ever happened to the soothing background music.
We’ll bring it back soon
@@TheBetterMenProject please do. I normally listen to the videos 10times daily. And its easier with the background music. So now im only watching the ones with music over and over again lol
@@TheBetterMenProject hey man i hope you're not upset with me. I love the video's. You're a great influence on people. Sorry if i offended you
please dont. i was wondering why i was so drawn to this video. i find background music distracting. actually, i even wonder what its purpose is supposed to be.
@@symposium_bw9757 i have alot of people i share them with and they feel that it makes info videos and a little background music mix well. They feel it makes them easier to watch. I always heard music brings life to the party. Alot of these other channels have the background music as well. 🤷♂️
Great video! Very informative and insightful :) A question though: What software do you use for the drawings?
I just found this video. He is using Videoscribe or Doodly.
Amazing video. Thanks a lot.
So I'm 14 and I've watched a lot of videos but this stands out
Taxes on capital gain and others are much less that percenrage of taxes on earned income .
With all love and appreciation to all people , A doctor , a teacher , a lawyer , a construction worker, a farmer could benefit the society more or less like a capitalist or a very wealthy .No one denies that some capitalists are great philanthropists like Warren Buffet who has contributed 24 billions dollars in charities.
My point , wouldn't be it more equitable or fairer if the very wealthy capitalists or very big corporations in the world ( not only in the USA ) would pay the same percentage of taxes as do the workers , teachers , doctors and lawyers ? This is a world dream and not only an American dream .The world dream , is that those who work for the greater good of humanity and produce the goods and services for all humans to live by , really deserve a more equitable and just taxation system . This would increase equilaity in the world . I know that the large capitalists and entrepreneurs of the world like Mark Zuckerburg or Jeff Pesoz are very smart and have contributed to the development of our world and they are great achievers and the managing brains, but all working people deserve better justice in have a fairer taxation system which is more evenly distributed in the whole planet ...
However , I agree that everyone is capable of making an improvement within his or her capabilities, whether it is training our minds and souls to be more creative or learning or discovering new skills or methods in investing or trading or producing better products and services. If he or she learns better ways to investing in long term dividend paying stocks and buying stocks at reasonable prices , he or she could earn a greater income . He or she could buy bonds or lend to companies they trust to earn higher interest on bonds that have great degree of safety. Everone could make books to sell or make videos to monetize or a blog that could pay him always even if he or she stops working . I agree that passive income is great and we have responsibilities to make self-development , but We have a responsibility to become aware that any average individual has the right for tax laws that are more reasonable and more just .
Love to all from Lebanon .
laws are made by rich powerful people to benefit themselves,
most of those working people dont bother watching this video anyway
@@saeedm6671
We are all responsible to be, do and have the change we love in the world . Thank you for the reply .
May be to make people shift from
Not investing into market and spending
To go and invest
A
This way there will be better utilization of resources and market will have money flowing more and more
Making development faster
If workers dont have to pay tax than they will not change there life
I guess maybe this is the reason
@@firefox9556
A great point of view and I think each person would have to take responsibility for whatever he or she thinks , plans and does in all areas of life despite the fact that people should be more aware of their rights as well their duties ...
@@waelfaraj6705 the thing is bro
Everyone want to be rich and exploit resources (thanks to movies and social media fake lifestyle)but nobody want this world to be a better place
Global wealth is 317 billion dollars
And people are more than 7 billion
Anyway if on avaerage we see
For every persin there is 50k that means if managed wisely
Whole humanity can life happily and enjoy and work together to make world a better place but
No they want to be bad
Now its all left is what is i
Not we
And what u can accumulate
Not serve
Not give
Thats sad
But if this world survives right now
Only because of the people who serve and think about whole humanity
Other responsibility extends to all animals and life forms and also earth
Not only that
Everyday lots of scientist are reporting
What will hapoen if we didnt stop exploting resources
Pollution,poppulation ,global warming,poverty corruption
There a lot to think ,worry and to do
But people life ends at money
Look at elon
He had money but doing everything to save humanity by making it a interplanetary species
There are lots of people dying in africa
Search africa water crisis
By 15 april
They wont have any money left but still
People need to learn
Moral values
Financial education is missing in schools but
Moral education is missing everywhere
Thats why people arent happy and satisfied
If u like it dont like it
Help other humans and tell them to help others and say the same to them
That dont say thanks help more and. Ask them to help more and ask others they help to ask others to help and same
Earned is initially the priority.Later Interest, Dividend and Rental. Goal to achieve Profit and Royalty Incomes for total financial freedom.
MillionDollarMindSet
Vic Mac it’s the way to go 💙
Thank you for the video. Growing up I've always seen myself buying an apartment complex or house, and renting it for passive income. But I have yet to get there. This has reminded me to always keep thinking about the future and educating myself/ acting on my ideas
That’s great keep working for it. Life is all about constant improvement 👍🏻
Concentration then diversification
Trevel Haynes agreed 💙
rental income is one of my favorite
Me too
Mix active & passive are best.
Will like to add royalty one next.
100% agree. That is a good mix
Pls help me understand,capital gains.. how real estate can reinvested to market?
I would like to learn more about dividend income and capital gains..
This content helped me so I appreciate that....
Happy to help man, we’ll see what we can to to make those videos happen
You have to believe in yourself and be confident with time because long hard work becomes something big
I don't care if people say my idea will never work or negative thoughts brings me down.....I keep sticking by my idea because you never know what will happen if you don't try it
Dividend income sounds the best for me. I am going to add more dividend income as well!
I think the answer is that I will just improve myself so that I can benefit from all seven.
That is a smart idea👌🏻
Happy to say save I have more than 7!
Doing what exactly......
Tell us other
Prostitution? Pretty sure that’s active income 😂
@@288theabe who told you
@@ericaroh676 I have eBooks, ecommerce, affiliate, income, dividends, interest, profits and more.
Rental Income sounds so good to me.
Me too ☝🏻
I live in India and I'm trying start a business firm which I want to do with me already working at a job...I was getting depressed because of how much the time is taking...but after watching, I'm feeling better...keep doing these videos
Hey would you be willing to partner up?
Thanks for sharing the information
Happy to help!
This is very good!!
Agreed, very useful!
Thank you man!
Thank you for the breakdown ♥️
Still at earned and profit now going for business and rental this year
That’s awesome
Thanks for the video. When I sell "sponsored posts" on my youtube channel, is that considered Profit Income? (but I'm not buying and selling something, just selling advertisement space on my videos)
this is a great lesson to share. thanks to your ideia and prodution.
Hey, loved the video. What software do you use to create the illustrations etc. I like it!!
It’s called videoscribe
@@TheBetterMenProject Thank you. I'll check it out.
I've done all of these except royalties and dividends. I think I'll give dividends a try once the stock market finishes its bounce down. Maybe in a couple years. I've removed earned income, but I might also add a little of that back to increase the amount available to me to invest in some of the others.
Good video.
Try catching the stocks right before the flow back up so u can get that bank!
Which type will the income from Agriculture be? like farm, harvest and sell with profit.
Thank you this video was so informative
Jodoh kau agreed 💙 brought so much value
why was I never taught about passive income in school? pathetic system I was raised in...
Id like to add all 7.
Thanks to this video I will be able to improve my Income and because of that I will be rich in the future too.
Look at the world we live in. Earned income should not be the higher tax bracket! But it is for a reason..
Great video though 😃 in this day and age I feel you need at least 10. Lol
💯💯💯
Liked the information a lot
This is so informative. For me rental income and residual income are next
Luis Lopez agreed💙 that’s where I want to go as well
As far as interest income goes, you can do 10% better than you stated. You already loan money to a bank by leaving cash in there. Loan money to projects secured by real estate, which is a mortgage. Simply buying specific typed of funds, like an REIT can give you security through diversification because an REIT is usually involved in many different aspects of real estate at once. For example, holding property for a long term big gains, parking lots, commercial rental, senior housing, residential rental, all blended.
Personally, I would advise that everybody skip any sort of business that directly involves employees unless you want another headache. Laws keep changing as does the employee expectation and that is two more variables plus extra management costs. Unless you really know what you are doing, you will lose a lot of money playing that game.
@Mindprovement. Not necessarily. Crowdfunding allows lower access cost to each type of income and can provide the type of experience you may need to advance. It also allows you to access higher return investments with a lower cost. Higher cost investments usually have higher returns but are financially inaccessible for a lot of people . Crowdfunding, Joint Ventures and Syndicated investments can allow you access to the better investments at the cost of a bit of interest because the management costs increase due to the increased amount of investors, but you can hit multiple projects with less money in each to mitigate risk.
Life full of pretty pictures
Great presentation sir.. thanks.
Thank you man !
@@TheBetterMenProject sir do u have any blog or anything where we can access to video notes or other stuff regarding finance, businesses or economy..?
how are these videos animated???
Rental income ,capital gains income and profit income.
Royalties. Work once make a hit and then sit back and relax. Gains with zero risk. Life doesn't get any better than that. Well, maybe a substantial inheritance? Which you didn't mention btw, How is that taxed, as income?
the best one so far but it's not really accessible
@@hamzah.7317 it's completely accessible, you just don't have the ideas for the product you could sell off at a royalty, which is literally any product you design that sells well enough to gain attention of other business owners.
So what happens for example, when said product is bought and you establish a royalty deal. If that product doesnt do well in the market or the new owners of that product sell the company over or even go bankrupt? Do you lose those royalties?? If that makes sense.
This is helpful for everyone especially of those enterprenure .lov it 👊👍
My grandmother made millions out of this rental income house eventhough she just finished grade 2.a long story from rags to riches.
Dekaa Lamb wow 😱 it’s crazy how people can become successful
I'm joining the Profiit Income club 👍
Elon Musk let me join in 💙
my dad has three🙂 I'm proud of him
That’s great 👌🏻
This is the path to freedom eventually.