An article published by BusinessInsider found that 65% of self made millionaires have 3 sources of income, 45% have 4 sources, and 29% have 5 or more sources of income. That’s a far difference from the person who’s pulling in their entire paycheck from a single job, and this small difference could end up making you a lot of money over your career if you use it to your advantage. Feel free to add me on Snapchat / Instagram: GPStephan
It really comes down to creating value with your time and doing things that lead you to what you want to achieve.
It usually begins like this:
1. Main job - this is your priority
2. Investments - the things you place your money in
3. Side job - what else you can do with your time
Doing this spreads out your risk. You don’t have 100% of your money coming in from one source. If something happens to your main job, you’re out. This allows you something to fall back on. It also allows you to focus on passive sources of income, or income that doesn’t require 100% of your attention, which is money you can make in addition to your main job. If you ever want to scale back or have more free time, this is easier to achieve. It also allows you to better leverage your time.
For me, I have four sources of income:
1. What I earn as a Real estate agent (my main job)
2. Equity gained by buying properties and renovating them
3. Rental properties
4. Stock market income
5. YouTube?
So you can see - main business, investments, and then side job. There’s almost like a trickle-down affect where you have your primary source of income which can be funneled through other avenues to make you even more money, hopefully which require less attention than your main job.
The most successful people I see all have these income streams. Some of them have products they sell, some invest in real estate, some invest in stocks, and some own their own side businesses. It’s less important about what they’re doing, and more important to realize that this is one of the best things to do.
So what can you do? Figure out what you want - do you want something that’s entirely passive? Do you want something that’ll make you more where you’re actively involved in? How much time do you have to dedicate to this? What do you like doing? There are also plenty of other passive income sources, like affiliate marketing, writing e-books, building apps, YouTube, website ad revenue, p2p lending…
I’m a believer that more and more opportunity is shifting to online and mobile, so anything you can setup online will likely do well long term. I also like businesses that don’t require 100% of your attention where you can leverage your time for something that works around the clock, so I’d highly recommend doing more research into these types of opportunities.
Overall, there are huge advantages to setting yourself up with multiple income streams. It generally makes you more money, spreads out your risk, and allows you to diversify. Thanks for watching!
For business inquiries, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
It really comes down to creating value with your time and doing things that lead you to what you want to achieve.
It usually begins like this:
1. Main job - this is your priority
2. Investments - the things you place your money in
3. Side job - what else you can do with your time
Doing this spreads out your risk. You don’t have 100% of your money coming in from one source. If something happens to your main job, you’re out. This allows you something to fall back on. It also allows you to focus on passive sources of income, or income that doesn’t require 100% of your attention, which is money you can make in addition to your main job. If you ever want to scale back or have more free time, this is easier to achieve. It also allows you to better leverage your time.
For me, I have four sources of income:
1. What I earn as a Real estate agent (my main job)
2. Equity gained by buying properties and renovating them
3. Rental properties
4. Stock market income
5. YouTube?
So you can see - main business, investments, and then side job. There’s almost like a trickle-down affect where you have your primary source of income which can be funneled through other avenues to make you even more money, hopefully which require less attention than your main job.
The most successful people I see all have these income streams. Some of them have products they sell, some invest in real estate, some invest in stocks, and some own their own side businesses. It’s less important about what they’re doing, and more important to realize that this is one of the best things to do.
So what can you do? Figure out what you want - do you want something that’s entirely passive? Do you want something that’ll make you more where you’re actively involved in? How much time do you have to dedicate to this? What do you like doing? There are also plenty of other passive income sources, like affiliate marketing, writing e-books, building apps, YouTube, website ad revenue, p2p lending…
I’m a believer that more and more opportunity is shifting to online and mobile, so anything you can setup online will likely do well long term. I also like businesses that don’t require 100% of your attention where you can leverage your time for something that works around the clock, so I’d highly recommend doing more research into these types of opportunities.
Overall, there are huge advantages to setting yourself up with multiple income streams. It generally makes you more money, spreads out your risk, and allows you to diversify. Thanks for watching!
For business inquiries, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Hey Graham! How does it feel looking at this video now? Lol
Best thanks !
Lol minimum wage huh
The algorithm pushing these videos to me.
Amazing to see where you’re at, and what you’re doing.
Super inspiring!
This aged well
“SunCor Financial MPI review” "
I have 10 different income streams and I’m still not a millionaire. Wtf Graham!
You got me in the habit of hitting like right when I click on one of your videos. Good job!
here in 2020,
now he makes 60% of his income from youtube.
congrats on the success, truly inspirational.
I'm so happy that i can finally embrace financial freedom. And only Carlos kingston made it possible, I actually earned my salary within a couple of days. I never believed i could gain so much in Binary Options trade. Mr Att Carlos_1uptrades on instagram is the right one to help you get financial freedom goto him for assistance.
It’s so awesome to see your growth and progression from this video to your current videos.
I buy investment property full time, i invest in mutual and index funds and a few single stocks, and work as a real estate agent on the side as well as a financial coach
says youtube only pays 12$/hr in 2017… if he only knew what was coming
Am i the only one noticing that he is making his voice deeper?
Watching this in 2020 – great achievement to get to 2.04 million subs.
I'm learning a whole lot from you Graham ❤
Go get a job
Rent seekers.
This is really good advice. I'm looking into a side hustle job right now. I currently work 3 nights per week (12 hour shifts) ,so I have some time for one. I have also been saving money so I can invest after I have enough of money for rainy day and other saved up. I don't pay rent so I save a lot
Crazy how in this video you mentioned YouTube is (at the time of the recording), a minimum wage “job” for you yet a few months ago you made 100k+ off youtube alone. Way to grind. I’m proud of your accomplishments Graham 👍
Watching in 2019
YouTube isn't just for minimum wage anymore, eh Graham
Congratulations on your success
dog
"I make probably make minimum wage on YouTube" … Hahaha, not anymore buddy. Working my way through your videos and loving the content.
I love the dog in the background as much as I love your videos. OK, this one I love the most because of your dog. I have deep going DEEEEEEEEEEEEEP and digging into the archives, man! I can't believe this was almost 2 years ago! WOW. REAL now. Just as REAL in 2017!
How much passive income does your dog make? Freeloader! Just kidding, I’m sure he’s/she’s the main breadwinner. Bet that’s your real secret. 💰💰💰🐩
=] well done G. Getting you better analytics.
You tube 'question mark' lol 🙂 what a difference 2 years can make…eh Graham?? 🙂
Good job, blowing up your you tube side gig 🙂 $100,000/mo! 🙂