Passive Income for Noobs

I'm going to talk about passive income why you should have it in your life why you should be thinking about it and how to start off with passive income and what you need to have before you start. Thinking about passive income so first of all let's talk about the differences between active income and passive income because you need to know the difference between the two active income is like when you're working a job like you. Get impaired an hourly rate for example you're working at Walmart or test goals or hope you like to come up here by the way excuse me I've got cold but I'm still making videos right why because I'm building on my passive income I'll.

Explain How But Before !

Explain how but before we get onto that your passive income when I'm sorry your active income is your hourly rate like for example you're working a job and you've got say $10 an hour $15 an hour 10 15 pound an hour I hope you know 1. 15 put it off because you're doing pretty well so yeah that's active income you're exchanging your time for money and even if you provide you like a service kind of thing you're exchanging your time for money even some businesses li. You can put that array up so like 50 pounds an hour of the pound an hour for example if you're a builder you're an electrician that's all active income active is like say for example I'm making this video right now right I would be.

Gay if someone was paying me 50 pounds to make this video right now that would be active income because I'm just getting paid to make this video that's it but what passive income is is this video right now if this video is to go off. And me a million viewsI don't know if it will do or not but if it's if it's gonna go off in the near future maybe the next few years even worse it's on YouTube and get me let's say not a million views but let's say it gets me 50,000. Views for example now I've only had to work 10 minutes for this video right maybe even less this on three minutes right now but if it gets me 50,000 views or 100,000 views in the next few years I won't have to touch this video again.

I've already done like this these few minutes and I've done the research to make the video and everything I've only done these few minutes right but the views will carry on coming in and I will carry on earning passive income on thi. Video on this work that I'm doing right now so in the past I've had videos I've had that have made me money in fact last week I had a video that made put on YouTube on a different channel and they actually bought me in a hundred and. Fifty pound referral and I had forgotten about this video like it's got it's nice it's got about four thousand views I think and he's borrowing a few hundred pound before that but he just bought it again because the referral program.

Opened Reopened They ?

Opened reopened they only open it like a short segments of the year and this video that I forgot about just so me into the commission for doing nothing and absolutely forgot about this video but this referral came in and the only ch. I had opened of the only stream of this referral to come through that was open was this video that I had on YouTube but that was over a year ago did I have to do any more work on that video for the hundred fifty pounds to come true. True no nothing I didn't do anything for that much come true so that's my own personal example of passive income and I've done the same with like blogs and sites before where I haven't had to do anything I do the work once and get i.

Ranking and get traffic to and things like that and then the passive income just comes in the referrals come in and everything comes in and that's how you new passive income there's other ways to do passive income I prefer this way. Because I'm teaching you guys because I'm doing I'm showing you what I'm doing you're gonna be seeing more of what I'm doing some active income I also have active income at the moment because I only recently lost everything and I'm. Starting from scratch so I do drive for uber each at the moment so that's my active income but I'm using you see this is another key lesson for you now yeah you take your active income if you haven't got any active income if you've.

No income whatsoever go first and get some active income because passive income is a bit more difficult to achieve but when you do get it is amazing it's like blissful right but go get some active income go work for ubereats go work. For delivery caviar group or whatever go get a job get some active income get some money together and then start thinking about passive income cuz you need money to pay a few bills pay for food you need stuff like you gotta earn for. That type of thing you know so yeah you're still gonna have your active income coming in for now and tell your passive income takes over your active income then you can leave your active income so like for example it might be for you.