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  • Imagine a life where you don't have to go to work.

  • You wake up in the morning and you have the whole day in front of you,

  • to learn new things, visit places, or lay in bed all dayall that while getting

  • paid and not having to worry about money.

  • Sounds ...too good to be true, right?

  • I mean If it's possible then no one would spend 8 hours at a job they usually hate.

  • But, most of the people do exactly that.

  • And it's because they don't believe that passive income is possible, or even if they do they

  • have no idea what passive income is and isn't.

  • Let me address what my interpretation of passive income is, and that's not the traditional/banking

  • definition of passive incomewhat I mean is that your income is earned through a passive

  • activity, meaning continuing to generate revenue long after the initial setup.

  • And if you think that passive income can be achieved without setting up a profitable system

  • in the beginning or that it's easy money and you won't have work hard, well then, I guess

  • this video is not for you. Aaand you can probably leave.

  • Passive income cannot be achieved overnight or even in a week, it is a long process of

  • delayed gratification, patience and working hard AND smart, but once it is set up correctly,

  • it can literally change your life forever, you'll be free to spend your days however

  • you like, and do what makes you happy.

  • Let me tell you a story about Bryan and Adam, a story about two video makers and how their

  • thinking and patience can be the only difference between working your whole life and a life

  • of freedom.

  • Bryan and Adam were two college friends, studying video production and editing.

  • They both loved making videos and soon enough they became close friends.

  • After a few years, they both graduated and Bryan started working for a video production

  • company where he created animated videos.

  • The company paid a hundred dollars for a single video.

  • And because Bryan was really good at this job he was able to produce new videos daily,

  • and got paid 100$ after each day of work.

  • Adam on the other hand was also invited, but decided not to work for the same company,

  • because while in college he watched some small YouTube channel talk about passive income

  • and decided to risk one year and give the idea a shot.

  • On the first day Bryan created a video and got paid 100$, Adam also made one video, but

  • instead of giving it to the company he uploaded it online.

  • The night before going to bed, he looked it up, and was surprised when he got paid 1$

  • from advertisements shown on the video.

  • The next day Bryan created another video, and got another 100$ bill, while Adam earned 1$

  • dollar from his new video, and 1$ from the video he posted the day before.

  • He was disappointed when he realized that his videos are worth a dollar a day, while

  • Bryan's videos 100$ a day.

  • Nonetheless he kept making videos.

  • What he didn't saw is that after a year, Bryan will have only 1 video that is worth 100$,

  • the current video he is making for the company, but Adam now has 365 videos each earning him

  • a dollar a day.

  • The difference... is in the ownership of the videos.

  • At the end Bryan will be left with nothing, if he stopped working, he will get 0$ the

  • next day, because he traded his time for money.

  • On the other had Adam has ownership of the videos, each one working for him, bringing

  • him a dollar a dayand if he stopped working he would still get money, because he OWNS

  • the videos.

  • If you do the math, after a year Bryan will have made 365 videos each worth 100$ which

  • equals 36,500 dollars after a year.

  • Adam on the other hand will have 1 dollar on the first day, 2 dollars on the second,

  • 3 on the third and so on, on the 365th day he will earn 365 dollars each one of his videos

  • will make him a dollar that day, so if we sum it up and do the math, after a year

  • Adam will have 66,795 dollars.

  • Heck even if the videos only got him 50 cents a day, that's 33,397 dollars, roughly the

  • same as Bryan but now he wouldn't have to work a second if he wanted and he would still

  • get money.

  • The best part about passive income is scaling.

  • Let's look at Adams scaling options.

  • At this point he owns 365 videos each paying him let's say 50 cents so that's roughly 182

  • dollars a day.

  • Adam can use those money to hire someone like Bryan and give him 100$ per video.

  • So, he would take a hundred from his earnings and invest them in his system so he could

  • make even more videos without touching a single thing, giving him even more passive income

  • with the option to hire more Bryan's.

  • In the free time Adam can improve his knowledge about videos, sharpen his talents, find his

  • passions, be happy and generally do what he wants.

  • And that is the underlaying message I want to get across.

  • It's not about telling you to start a YouTube channel, to make affiliate sales, or that

  • you can sell your music online.

  • It's about understanding the power of passive income and that it really is possible, but

  • also to understand that passive income is not for everyone.

  • You have to work very hard at the beginning, setting up the system, being patient, seeing

  • what's working and what's not, and sometimes you would even have to work for free as opposed

  • to selling your videos for 100$ every time you make them.

  • And even after you set up your system, passive income still needs some kind of maintenance

  • effort.

  • But without a doubt passive income is one of the best incomes you can have, because

  • you can set up indefinite number of income streams and there is no limit of how much

  • money you can make.

  • In the next video I will share more types of passive income, but for this kind of passive

  • income where you create something, like mobile application, music, photos, videos, books,

  • courses the key point is that YOU are the owner of the finished product, because that

  • will enable you to get paid for the rest of your life.

  • For example, if you write an e-bookyou are the owner of the book and for every download,

  • guess what, you get paid.

  • The difference between writing a book about meditation and writing articles about meditation

  • for a company, is that at the end of the dayyou are the owner of the book and the

  • company is the owner of your articles.

  • And yes, it's easier to work for a company, finish 8 hours of work go home and get paid

  • than to write a book, design the cover, upload it on different sites, market and sell the book.

  • But hey, no one said that creating passive income would be easy in the first place.

  • Now that you know what passive income is and that you can use it to create your perfect

  • life, in the next video I will share some of my favorite ideas on how to set up you

  • own passive income stream.

  • It's a list of ideas, some of which I used in the past and some of which I currently

  • use, so hit that like button, subscribe if you haven't already and I'll see you in the

  • next video.

Imagine a life where you don't have to go to work.

Subtitles and vocabulary

A2 BEG US passive income income passive bryan adam video

HOW TO MAKE PASSIVE INCOME - PASSIVE INCOME ONLINE FOR BEGINNERS

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    Yamanba   posted on 2020/06/09
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