My Passive Income: $16,397/month by age 25

Hey guys, welcome back to the channel. In this video, we're going to be doing a bit of an update on my personal passive income streams. So I haven't made a purely passive income update for over a year now. It was about a year ago where I released one of my most popular videos to date, so I'm super chuffed that you guys are really interested in this topic and talking about passive incomes. But back then, I just tipped over the three thousand dollars a month and I was 24.

So now we're coming back and doing an update where I am now at the age of 25. I hope you guys enjoy this video. Of course, leave a like on it if you do find it enjoyable or if you find it useful, and let's get stuck into it.

[Music]

Okay, so before we start, I just wanted to do a little bit of a talk on passive income itself because otherwise I know I'm going to get so, so many comments on this topic. Now, the way I view passive income, and I spoke about this in my recent passive income video, is I see passive income as a model of income. You know how active income is literally going to work, trading your hours for money? That's active income.

Whereas I view passive income as just the model of income where you do the work upfront, and then once the work is done, that has the potential to generate you revenue for a long time into the future. So that's how I view passive income. I don't view it as the way that a lot of people view it, where passive income is literally you do absolutely minimal work and you just earn money from doing basically nothing.

I definitely do believe there's a lot of active work that you have to do to generate your passive income streams. However, having said that, for this video, I am going to try and, you know, alter these numbers so that they are just a pure reflection on how much money I make for doing very minimal work. Okay, so without putting in hours and hours and hours, so with that said, let's get started.

The first way that I generate passive income is through this YouTube channel. Now, I know what you're probably thinking; a lot of people want to instantly comment that YouTube channels cannot be considered passive because you need to work so much to keep the views coming in. You need to keep your channel going, otherwise it'll stop. Your videos will stop getting recommended in the algorithm, and so on and so forth. Yes, that is absolutely true.

However, there is definitely a passive income element to YouTube. You know, there are videos I made last year that I don't even think about anymore that still, to this day, trickle in views and are still earning me passive income. Okay, so yes, while I have to keep the channel going, there are still views from a long time ago that are still earning me revenue, and I classify that as passive income.

So what I actually did to try and figure out how much money I make passively from YouTube is I looked at how much money I made on YouTube in August, which ended up being ten thousand seven hundred and forty-three dollars. Then I took the revenue away for all of the videos that I created and released in August.

Okay, so all of the work that I did for the channel in August has been taken out of that ten thousand dollar number. What I was surprised at, what I was left over with, was three thousand eight hundred and seventy-five dollars. So that's for videos released in, you know, July 2020, January 2020, you know, April 2018, you know, March 2017.

All of those videos that I've previously done that I've long since forgotten about that still gain, you know, one, two, three, five, ten, hundred thousand views every now and again, those videos still do earn me some money. I was very surprised, actually. I really didn't know what this number was going to be, but I'm pretty chuffed, actually, that, you know, 3,875 comes each month pretty darn passively.

So that is the first revenue passive income revenue source that I make. Now, let's move on to the second one. The second one is very closely linked to the YouTube channel, and that is through sponsorships. So I only have two sponsorship agreements at the moment. One is with Finder and the other one is with Stake. But Stake is by far the primary channel sponsor.

I've been working with Stake for a very long time. In fact, you know, I've been working with Stake, or rather they've been sponsoring my content, you know, before the channel was, you know, what it is today, before I was getting, you know, a decent amount of views every month. So, you know, I really do have to thank the guys over at Stake for supporting the channel even when it was really nothing that it is today, and that definitely played a big part in helping me make the channel more financially viable when it was still much smaller.

So, essentially, the sponsorship agreement with Stake is that each month, one of my videos on the channel is sponsored by them. This is very much passive income. I don't really have to do too much. I've already made the titles and the cards that I put into the video to make that video sponsored by Stake.

The deal is that, you know, if somebody signs up to Stake using my referral code, then they send a couple of bucks my way. They also give you guys a bonus as well. I always make sure that it's a win-win-win for everyone with these sponsorship agreements that I sign up to.

So that's the agreement. I've been doing that for a very long time, and it's actually making me roughly 3,000 a month at the moment. I can't get into specifics, but if we take a monthly average over the past five months, the average comes out to just over three thousand dollars a month. So that's my second passive income stream.

Um, yeah, I'm very fortunate, I suppose, to be able to earn money in this way. I think it's a great way for the channel and for me personally to earn more money. As I said before, it's a win-win-win. It's a win for me, it's a win for you, it's a win for Stake. So, you know, I'm totally for those situations, but I'm very fortunate that Stake reached out to me and even offered to sponsor the channel in the first place.

So anyway, that is the second way that I generate passive income. Moving on to the third way that I generate passive income, it is through my business. So this one's a new one. This wouldn't have featured in last year's video, and that is because I didn't have this business this time last year.

So of course, I launched Profitful in January. Yes, there is active work to be done, like there's support requests and, you know, I want to keep building on that business. I want to make new courses as we go forward. But it's structured very passively in the way that it generates sales.

Like, I don't do face-to-face courses; all the courses are in-depth, kind of pre-recorded videos, you know, scripted structured videos so that they're as high quality as possible, essentially. So yeah, we've got four courses there. They're all pre-recorded video courses, and then they can just make sales. I don't really push it too hard.

As you guys know, I just mention it at the end of my videos. It's not like I'm screaming at you guys trying to make you buy the courses, so it is very passive in that nature. I just give it a mention every now and again, and yeah, I'm very fortunate that this one obviously fluctuates a lot, like a lot of this sort of business revenue. Some months it can be great, some months it can be, you know, just average, I suppose.

But I'm very fortunate that Profitful generally ends up between anywhere between 10 and 25 thousand a month. That's not the money that I get to take home in my bank account; there are other people that are involved in Profitful. As it says on the website, I am a co-founder; I am not the sole founder of Profitful, so that needs to be factored in as well.

But yeah, I'm definitely very fortunate that you guys have really supported that business and have found value in what we're doing with that business and have, you know, decided to sign up and purchase the courses. I'm super fortunate that you guys are really finding value in that content.

All the feedback, basically every single piece of feedback I get is positive, so I'm super happy with that. I'm glad I did it. It took a hell of a lot of work to start up, though, but now that it is up and running, the income that I generate is structured very passively from this point forward.

The only active side of it is just answering support requests, general businessy stuff, and then if I want to add more courses, then obviously I have to go out and make those courses. So anyway, guys, that is the third passive income stream that I have in this year.

Moving on to the last one, I still wanted to talk about this because I find this absolutely crazy. This is something I did many, many years ago. I haven't touched this in literally like three years or so, and that is making t-shirt designs on Redbubble. So essentially, what you do is you make a t-shirt design, you upload it, and then Redbubble takes care of the back end, the manufacturing, the shipping, and then they just cut you in a little bit of each sale that you make.

But yeah, as I said, I literally haven't touched this one in about three years, and it still makes me 30 to 40 dollars a month. Like last month, 35 dollars in July. Yes, I know that's not very much money; it's kind of funny. But I still want to put this in because I mean that's like, that's a couple of subway subs each month. Like, that's still pretty impressive.

And this is literally the most passive income source that I have. The most passive. I literally do nothing. Like, I haven't, besides today in preparation of this video, I haven't logged onto my Redbubble account in literally years. I had to reset my password because I'd forgotten what my password was to my Redbubble account. So there you go, this is purely passive, but I still think it's pretty cool.

Right? I literally haven't touched it in years, and it's still, you know, it buys me a couple of subway subs every month. So that's, I think that's pretty awesome. Um, but anyway, that is the update.

So overall, my passive income sources now being 25, earning me somewhere between kind of 20, let's go 15 to 25 thousand a month, like I said, these do fluctuate. I guess this is another really interesting point. This is the advantage in having multiple sources of income. Even if I have a bad month or just an average month on YouTube, I can still have a good month on Profitful, or I can still have a good month when it comes to sponsorship.

So I think there's something to be said there where it's definitely, while each one of these passive income sources can fluctuate quite a fair bit, it's still by having multiple, it still actually evens out the monthly revenue to, you know, between kind of 15 to 25 thousand. So anyway, I find that really interesting.

Of course, the last thing I wanted to say is I definitely don't want these videos coming across as, you know, me standing up and, you know, um, boasting or whatever and saying, "Oh, you know, look how good I am." I do realize that this is quite a lot of money to be generating each month, and I acknowledge that I am just super fortunate to be in this position.

The reason that, you know, I have to remember the reason I'm in this position is really because of you guys. Like, it's you guys that show up and watch the YouTube videos. For most of Profitful sales, it's you guys that have been interested in wanting to learn more and have actually decided to buy those courses. It's you guys that have predominantly signed up for Stake and are now using Stake.

So yeah, I don't want this video, I never want my videos to come across as me like saying, "Oh, look how good I am." Like, I could be wearing a suit and tie and pretending that I'm some flashy, you know, millionaire. But I mean, I never want to, I never want to, I never want to stoop that low. I always want to stay humble, and I do super appreciate your support throughout the years.

We've been doing this now for three plus years. It's going to be four years before we know it. I mean, that's a long time, and I appreciate whether you've been watching the content for literally three years or whether you've just become a subscriber in the last month. I appreciate all the support that you guys give me.

Um, and yeah, I always want to make sure that hopefully that comes across in my videos. Hopefully, I seem genuine because I am genuine; there's no BS when it comes to my channel. But anyway, that is the income update, the passive income update for 2020.

Let me know what you think. Join me to make more of these. I can do these maybe every six months, or I think a year is a good time frame coming back and just reassessing each year how I'm going with all these passive income sources. So let me know, and definitely let me know as well in the comments how you guys are going with your passive income streams.

Let me know, drop that stuff down in the comment section below. I'm always super interested, super intrigued to hear how you guys are going about passive income. But that will do me for today, guys. Check out Profitful, links down in the description if you'd like to learn more about that stuff.

But that's it from me for today. Thanks for watching, and I'll see you guys in the next video.

Been a little too nice to y'all. Now I got [Music] wins when they got it on record off record. Eye let them take advantage. I was welling on wrecking. Off record deals, tell them chuck the column for the quote.