Blog 19: How people can make passive income and what are the best ways to make that money
Passive income is something we all need to explore as people. Passive income takes time and usually needs lots of money to start and build up, some may be things you’ve heard about and others may seem a bit strange.
Before we dive in, allow me to introduce myself, the blog and my podcast!
Before we dive in allow me to introduce myself, My name is Akshith Konda. I’m a 21 year old College Student and I am the CEO, Writer, and, Author, and Editor of The Finance Spot. It’s just something I do for fun, I’m also the CEO, Main Host and Business Director of the On Your Own Two Feet Podcast.
About the Blog
So the Finance Spot Blog is designed to be as easy to understand for any age group it also goes over topics like Real Estate, Crypto, Negotiations, Buying a car, Investing and more. I also as part of the Finance Spot post a weekly Watchlist on Sunday at 9PM CST or Monday Mornings before Market Open(8AM CST). Blogs go Live at 9PM CST on Saturdays and Quote of the Day or QOD’s Are on daily and one Quote of the Week Weekly.
If you wanna know more about the Podcast here’s a summary.
On Your Own Two Feet is a motivational/sociocultural podcast in which we dive into the big topics of human, cultural, and philosophical lifestyles, making it engaging, entertaining and easy to understand for today’s youth and Tik Tok Generation. OYOTF seeks to inspire a new generation of Entrepreneurs and Visionaries to tackle the issues of modern society. Join us as we talk with new Entrepreneurs and discuss their paths and the difficulties they faced.
Our first episode Has aired only on Spotify. We ran into issues getting it on to other platforms, Episode 2 may not air till after May 13th and will be available on other platforms, we are working on getting EP 1 on other platforms as well now that finals are done.
We can’t wait to show you what’s next for OYOTF! Our next episode will drop today! We can’t wait for you to hear it! All feedback is welcome as we also have a Discord for that Podcast as well. We can’t wait to see you there!
Three Passive Income Methods that are insanely profitable but also take time to build up
1.Investing: How many times have you heard? “You need 10k+ to get started in the Stock Market.” That’s not even close to being true. You would need about 200 dollars to get started. Investing is very varying as the market changes with time. You also need some insight and the will to do some decent research, Find our weekly watchlist to help out with that. Cryptos are also a good way to go as most of them grow at a much faster rate.
Annual Yield: Varies around 20% average but can be more that 400% if you have the right picks. Crypto Grows at a much faster and hourly rate of 2–5%
2. Amazon FBA: Amazon is a big company and many people have become millionaires because of them. FBA is pretty easy as you never have to hold inventory or do much other than find and direct product to an FBA site close to you, you keep 95% while Amazon takes about 5% plus monthly subscription fees for shipping and other services to onboard your page and to allow you to sell using all their resources.
Annual Yield: 200,000–2.7M pre tax and pre-product fees, pre Amazon Commissions and Resource Fees. Post Tax it can vary.
3. YouTube: YouTube is perhaps the most visited video site on the planet and with over a billion hours of content and counting, On YouTube if you join the YouTube Affiliate Program, Your Videos will become Monetized. Now the program has it’s own condition, get 1000 subs as well as have 4000 hours of public hours watched so you’d need to have at the least 365 videos all with 20+ minutes of content. YouTube is a public domain so there are no fees to upload and since its owned by Google, to get a good affiliate list going you might wanna get verified by AdSense as a Creator.
Annual Yield: Unknown, depends as you can compound and combine Ad Revenue per View as they vary per category as well as Affiliate Links and Sponsorships as well as personal investments.
There are hundreds of things you can do, like make a blog, make a podcast or make a startup and develop it but all of them take time, Passive Income takes time to generate a large income and while they take time the key with them is to be consistent and to be as focused as possible.
Before we go, I need to say thank you to all my followers on Medium. Please Like, Share and Follow.
If you liked my content, Check out my blog and other content with all the links are below. Check out my other content, like my Instagram and YouTube, and my other social media.
The link is below. As are all of my social media and so is the pod!
Find me on Instagram and on Twitter and do DM me about questions to talk about and write about in my blogs and videos.
Listen as well to the On Your Own Two Feet Podcast. EP2 will be on other platforms, we’ve got a great interview coming your way, but for now we’ll see you next time.
The On Your Own Two Feet Podcast will be Available where ever you listen to podcasts Episode 2 will drop sometime next week. Please check out my links to get access to all my social media including the podcast and please check the pod out as well as it takes longer than the blogs to make and edit it as well as more man hours than this blog to do as well.
Thank You and see you next week.