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Passive Income: My Plan To Retire At 25 On $10,000 Per Month

Published on: December 2 2022 by Sara Finance

Passive Income: My Plan To Retire At 25 On $10,000 Per Month

Passive Income: My Plan To Retire At 25 On $10,000 Per Month

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00:00:00 00:00:04 so i'm currently 20 years old and have a
00:00:01 00:00:06 plan to retire at the age of 25 on 10
00:00:04 00:00:09 000 a month in passive income and that
00:00:06 00:00:11 means i get to make 10 000 every single
00:00:09 00:00:13 month without doing anything at all so i
00:00:11 00:00:15 could literally be chilling on the beach
00:00:13 00:00:16 traveling or doing whatever else i want
00:00:15 00:00:18 and of course i do have a step-by-step
00:00:16 00:00:19 plan that i'm gonna follow to get me to
00:00:18 00:00:21 the point of making ten thousand dollars
00:00:19 00:00:22 every single month in passive income and
00:00:21 00:00:24 so i'm gonna share the plan with you
00:00:22 00:00:25 guys and hopefully you can learn
00:00:24 00:00:27 something and potentially follow it for
00:00:25 00:00:29 yourself
00:00:27 00:00:31 so i have five years left to achieve my
00:00:29 00:00:33 goal of making ten thousand dollars a
00:00:31 00:00:35 month in passive income and retiring and
00:00:33 00:00:37 i tiknically am making passive income
00:00:35 00:00:38 right now every single month but the
00:00:37 00:00:40 thing about this passive income is it
00:00:38 00:00:42 isn't very stable and reliable and so
00:00:40 00:00:43 currently i'm working on five different
00:00:42 00:00:45 ways to make passive income that are
00:00:43 00:00:48 stable and reliable and will last me
00:00:45 00:00:50 forever
00:00:48 00:00:51 so the first way i plan to make passive
00:00:50 00:00:52 income is with real estate and i
00:00:51 00:00:54 honestly think real estate is a number
00:00:52 00:00:56 one investment to make passive income
00:00:54 00:00:57 and to build your wealth i'll be honest
00:00:56 00:00:59 with you i have not met a single
00:00:57 00:01:01 millionaire that says they don't invest
00:00:59 00:01:02 in real estate almost all of them do and
00:01:01 00:01:04 i think about 90 of people became
00:01:02 00:01:06 millionaires just from real estate and
00:01:04 00:01:07 the main reason for this is because with
00:01:06 00:01:09 real estate you get something called
00:01:07 00:01:11 leverage and so basically what this
00:01:09 00:01:12 means is that you can actually borrow
00:01:11 00:01:14 money to buy a property so you don't
00:01:12 00:01:16 even have to use your own money but the
00:01:14 00:01:17 best part is you're still going to be
00:01:16 00:01:19 making money from the property and so
00:01:17 00:01:21 it's basically a cheat code to building
00:01:19 00:01:23 wealth so let me give you an example
00:01:21 00:01:24 let's say you want to buy a 300 000
00:01:23 00:01:26 house then you go to the bank and you
00:01:24 00:01:28 ask for a loan which is basically called
00:01:26 00:01:30 a mortgage then let's say the bank says
00:01:28 00:01:32 you have to pay thirty thousand dollars
00:01:30 00:01:33 up front for the house but then the bank
00:01:32 00:01:36 is going to require you to pay them 1
00:01:33 00:01:37 400 every month to pay off your mortgage
00:01:36 00:01:39 well then what you can do with that
00:01:37 00:01:40 property is you can rent it out to
00:01:39 00:01:42 someone for two thousand dollars a month
00:01:40 00:01:43 and that means that person living in
00:01:42 00:01:45 there is actually paying off your
00:01:43 00:01:47 mortgage and because the mortgage is
00:01:45 00:01:48 only one thousand four hundred dollars
00:01:47 00:01:50 per month but the renter is paying you
00:01:48 00:01:52 two thousand dollars per month that
00:01:50 00:01:54 means you profit seven hundred dollars
00:01:52 00:01:56 every single month which is passive
00:01:54 00:01:58 income and on top of that the best part
00:01:56 00:02:00 is your house is expected to increase in
00:01:58 00:02:02 value every single year in just the last
00:02:00 00:02:04 year houses have gone up so much some
00:02:02 00:02:05 houses even doubled in value so let's
00:02:04 00:02:06 just say that your three hundred
00:02:05 00:02:08 thousand dollar house is now worth five
00:02:06 00:02:10 hundred thousand dollars in a couple
00:02:08 00:02:11 years then at that point what you can
00:02:10 00:02:13 actually do is pull cash out of that
00:02:11 00:02:14 house and what you can do is go to the
00:02:13 00:02:16 bank and they can kind of give you an
00:02:14 00:02:17 option to do that there's a couple ways
00:02:16 00:02:19 you could do this like getting a home
00:02:17 00:02:21 equity line of credit or doing a cash
00:02:19 00:02:22 out refinance but the point anyway is
00:02:21 00:02:24 that since you can get money out of the
00:02:22 00:02:26 house what you can do with that money is
00:02:24 00:02:28 then go buy more properties and then you
00:02:26 00:02:30 can continue doing this process over and
00:02:28 00:02:32 over again and then with time you can
00:02:30 00:02:34 have a couple of properties all paid off
00:02:32 00:02:35 making you passive income every single
00:02:34 00:02:37 month and i know there's probably a lot
00:02:35 00:02:38 of people watching this saying i have no
00:02:37 00:02:40 money to buy a house but there are some
00:02:38 00:02:42 options for you so if you live in the
00:02:40 00:02:44 united states you can actually take out
00:02:42 00:02:46 something called an fha loan which means
00:02:44 00:02:47 that you can put a very very small down
00:02:46 00:02:49 payment to buy a house if you live in
00:02:47 00:02:50 canada there's a first time home buyers
00:02:49 00:02:52 option or anywhere else in the world
00:02:50 00:02:53 there's always something for you to do
00:02:52 00:02:55 to get your first home and so it makes
00:02:53 00:02:57 the process a lot easier but anyways now
00:02:55 00:02:59 i just want to get into my plan and what
00:02:57 00:03:01 i'm gonna do with real estate so every
00:02:59 00:03:03 single year i hope to buy at least one
00:03:01 00:03:04 to two rental properties and so in five
00:03:03 00:03:06 years i should have around eight
00:03:04 00:03:07 properties as for how much passive
00:03:06 00:03:09 income those eight properties are going
00:03:07 00:03:10 to make me it really depends on several
00:03:09 00:03:13 factors so let's say the eight
00:03:10 00:03:14 properties i get pay me 300 a month in
00:03:13 00:03:16 profit after paying down the mortgage
00:03:14 00:03:19 and expenses that means that every month
00:03:16 00:03:20 i'm making around 2 400 in passive
00:03:19 00:03:22 income and so that's why i love real
00:03:20 00:03:26 estate and it's also a very stable
00:03:22 00:03:27 investment compared to anything else
00:03:26 00:03:29 the next way i plan to make passive
00:03:27 00:03:32 income is with crypto and i actually had
00:03:29 00:03:34 zero dollars of crypto back in december
00:03:32 00:03:35 of 2020 and now i have over a hundred
00:03:34 00:03:37 thousand dollars in crypto and i
00:03:35 00:03:39 followed a very simple strategy to make
00:03:37 00:03:40 this money that i'm going to be sharing
00:03:39 00:03:42 with you guys but before i share the
00:03:40 00:03:44 strategy i just want to go over what
00:03:42 00:03:46 crypto is for anyone who doesn't know so
00:03:44 00:03:47 you've probably heard people tok about
00:03:46 00:03:49 bitcoin and ethereum which are the most
00:03:47 00:03:51 popular cryptos but honestly the
00:03:49 00:03:53 simplest way i can explain crypto is
00:03:51 00:03:55 that it's basically a digital currency
00:03:53 00:03:56 that you can use to buy stuff and a lot
00:03:55 00:03:58 of people do believe that eventually
00:03:56 00:04:00 crypto is going to replace money and
00:03:58 00:04:01 it's also an investment as well so for
00:04:00 00:04:03 example let's say you put a hundred
00:04:01 00:04:04 dollars in bitcoin today or maybe in
00:04:03 00:04:06 five years from now that hundred dollars
00:04:04 00:04:08 could be worth a thousand dollars and
00:04:06 00:04:10 there's tons of different crypto aside
00:04:08 00:04:11 from bitcoin and ethereum but those are
00:04:10 00:04:13 just the most popular ones but anyways
00:04:11 00:04:15 now i want to get into my strategy of
00:04:13 00:04:18 how i make money with crypto so honestly
00:04:15 00:04:20 all i do is be consistent that's it so
00:04:18 00:04:21 what i do every month is i put aside two
00:04:20 00:04:23 thousand dollars and i put a thousand
00:04:21 00:04:25 dollars in bitcoin then i put a thousand
00:04:23 00:04:27 dollars in ethereum and i know it sounds
00:04:25 00:04:29 too good to be true but that's literally
00:04:27 00:04:30 all i do for the most part it's passive
00:04:29 00:04:32 income so all you have to do is invest a
00:04:30 00:04:34 certain amount of money every month into
00:04:32 00:04:37 crypto it doesn't matter how much money
00:04:34 00:04:38 could be 20 50 whatever you can afford
00:04:37 00:04:40 just make sure you stik to the plan and
00:04:38 00:04:42 of course the most important part before
00:04:40 00:04:44 you even buy any crypto it's obviously
00:04:42 00:04:45 do your research on it make sure you
00:04:44 00:04:47 believe in it if you don't think crypto
00:04:45 00:04:49 is going to be part of the future then i
00:04:47 00:04:51 probably wouldn't invest in now remember
00:04:49 00:04:52 this is all my own opinion but if you do
00:04:51 00:04:54 actually want to start investing in
00:04:52 00:04:56 crypto yourself what you can do is click
00:04:54 00:04:57 the link in the description of the video
00:04:56 00:04:59 where it says crypto then you can sign
00:04:57 00:05:01 up there and get a free 10 worth of
00:04:59 00:05:03 crypto and you're actually going to use
00:05:01 00:05:04 the app that i use which is coinbase but
00:05:03 00:05:06 honestly the best way to make money with
00:05:04 00:05:08 crypto is just to buy when the prices go
00:05:06 00:05:10 down so when it crashes that's when i
00:05:08 00:05:12 take advantage and i buy a lot and so
00:05:10 00:05:13 for that reason i'm able to triple my
00:05:12 00:05:16 investment and i believe that if i
00:05:13 00:05:17 invest consistently in crypto today my
00:05:16 00:05:19 hundred thousand dollars is gonna be
00:05:17 00:05:21 worth over five hundred thousand dollars
00:05:19 00:05:23 in the future now obviously this is my
00:05:21 00:05:24 opinion and it is a guest so you can't
00:05:23 00:05:26 take this too seriously but that's what
00:05:24 00:05:27 i believe because i believe in crypto
00:05:26 00:05:29 and i think it's gonna be a big part of
00:05:27 00:05:31 the future and if crypto does increase
00:05:29 00:05:32 every year at a seven percent return
00:05:31 00:05:34 with inflation then i'll be able to take
00:05:32 00:05:36 out about ten thousand dollars every
00:05:34 00:05:37 year which is passive income so i can
00:05:36 00:05:39 use that ten thousand dollars for
00:05:37 00:05:42 whatever i want again it's gonna help me
00:05:39 00:05:44 retire early
00:05:42 00:05:45 but anyways moving on now my next plan
00:05:44 00:05:47 to make passive income is with drop
00:05:45 00:05:48 shipping and for anyone who's new to
00:05:47 00:05:50 drop shipping it's basically just
00:05:48 00:05:52 creating your own online business and
00:05:50 00:05:54 selling any product you want now i tok
00:05:52 00:05:55 about drop shipping all the time on this
00:05:54 00:05:57 channel but there is a way to make
00:05:55 00:05:58 passive income with it which i haven't
00:05:57 00:06:00 really toked about so usually when you
00:05:58 00:06:01 start any business it's a lot of work
00:06:00 00:06:03 and you're actually doing most of it
00:06:01 00:06:05 yourself but once your business grows
00:06:03 00:06:07 and becomes more established that's when
00:06:05 00:06:09 you can actually hire people to help you
00:06:07 00:06:10 out and eventually with time if you hire
00:06:09 00:06:12 the right people those people can take
00:06:10 00:06:14 care of the whole business for you
00:06:12 00:06:15 without you even being present for
00:06:14 00:06:17 example let's take a look at amazon
00:06:15 00:06:19 which is a billion dollar company and
00:06:17 00:06:20 the founder jeff bezos doesn't actually
00:06:19 00:06:22 have to be there for the company to run
00:06:20 00:06:24 so if he wants he can retire tomorrow
00:06:22 00:06:26 and the company will run smoothly since
00:06:24 00:06:27 it's so big and established so
00:06:26 00:06:29 tiknically all you have to do is think
00:06:27 00:06:31 smarter and just build a team that can
00:06:29 00:06:32 do everything for you and i actually had
00:06:31 00:06:34 a drop shipping business before that was
00:06:32 00:06:36 completely passive income and i wasn't
00:06:34 00:06:37 doing any of the work and if i wanted to
00:06:36 00:06:39 i could have kept that business forever
00:06:37 00:06:40 and it would have made me passive income
00:06:39 00:06:42 but i actually decided to sell the
00:06:40 00:06:43 business for six figures and i never
00:06:42 00:06:45 toked about this on the channel because
00:06:43 00:06:46 i did agree with the buyer that i would
00:06:45 00:06:47 keep everything private but honestly
00:06:46 00:06:49 suddenly the business was the right
00:06:47 00:06:51 decision for me and thinking about the
00:06:49 00:06:53 future i'm going to aim to make at least
00:06:51 00:06:54 four thousand dollars every single month
00:06:53 00:06:56 in passive income for my drop shipping
00:06:54 00:06:58 business and it's definitely possible to
00:06:56 00:06:59 make four thousand dollars or even more
00:06:58 00:07:01 with this business model and if you are
00:06:59 00:07:03 wondering exactly how i build multiple
00:07:01 00:07:04 successful dropshipping businesses they
00:07:03 00:07:06 make me over thirty thousand dollars
00:07:04 00:07:07 every single month i do have a drop
00:07:06 00:07:10 shipping course that teaches you my
00:07:07 00:07:11 exact step-by-step strategy so if you
00:07:10 00:07:15 want to check that out the link for it
00:07:11 00:07:16 is in the description of this video
00:07:15 00:07:18 now moving on the next way i plan to
00:07:16 00:07:21 make passive income is with an airbnb
00:07:18 00:07:23 property now an airbnb property is very
00:07:21 00:07:26 similar to a rental property except with
00:07:23 00:07:27 airbnb it focuses on shorter stays like
00:07:26 00:07:29 one to five days so it's great for
00:07:27 00:07:31 anyone who's looking to go on a vacation
00:07:29 00:07:33 and because you do stay for a short time
00:07:31 00:07:34 and it is for like vacation purposes
00:07:33 00:07:36 most of the time you can't charge a lot
00:07:34 00:07:38 more money for example if you have an
00:07:36 00:07:40 airbnb property near disney world that
00:07:38 00:07:41 can make you a lot of money definitely
00:07:40 00:07:43 over a hundred thousand dollars a year
00:07:41 00:07:45 and that's mainly because it's in a good
00:07:43 00:07:47 area and it's booked off 99 of the time
00:07:45 00:07:49 and so if you find the right property in
00:07:47 00:07:51 the perfect location you can also make a
00:07:49 00:07:53 lot of money from airbnb now as for my
00:07:51 00:07:55 plan i'm definitely more interested in
00:07:53 00:07:57 rental properties but i do also plan to
00:07:55 00:07:59 get one airbnb property but i want to be
00:07:57 00:08:01 a luxury one i'm planning to have it
00:07:59 00:08:02 really close to the beach that way it's
00:08:01 00:08:04 always booked up and so i want to find
00:08:02 00:08:06 an airbnb property that can make me over
00:08:04 00:08:07 a hundred thousand dollars every year in
00:08:06 00:08:09 revenue but of course there's gonna be
00:08:07 00:08:11 expenses with the property like mortgage
00:08:09 00:08:13 bills and other stuff so i'll be lucky
00:08:11 00:08:16 to make at least 2 000 a month in profit
00:08:13 00:08:18 from the airbnb property
00:08:16 00:08:20 now moving on the next way i plan to
00:08:18 00:08:22 make passive income to retire early is
00:08:20 00:08:23 with the stok market now there's tons
00:08:22 00:08:24 of ways you can make money with the
00:08:23 00:08:26 stok market but i'll go over what i'm
00:08:24 00:08:28 most interested in and that for me is
00:08:26 00:08:29 called dividend stoks a lot of you
00:08:28 00:08:31 already know what this is and i have
00:08:29 00:08:33 toked about it on the channel examples
00:08:31 00:08:34 of a dividend stok could be apple or
00:08:33 00:08:36 coca-cola and investing in dividend
00:08:34 00:08:38 stoks means that you basically invest
00:08:36 00:08:40 in a company that pays you a certain
00:08:38 00:08:42 percentage every year for example if you
00:08:40 00:08:44 buy inbridge stok at fifty dollars and
00:08:42 00:08:46 pays a six percent dividend you then get
00:08:44 00:08:48 paid six percent of whatever you invest
00:08:46 00:08:49 in the company every single year and i
00:08:48 00:08:51 love dividend stoks and invested in
00:08:49 00:08:53 them for a very long time and i did make
00:08:51 00:08:54 a youtube video on how making over a
00:08:53 00:08:56 thousand dollars a month with dividends
00:08:54 00:08:57 so you can check that out if you haven't
00:08:56 00:08:59 already but i will say my strategy for
00:08:57 00:09:01 investing in dividend stoks is very
00:08:59 00:09:03 simple all i do is set aside a certain
00:09:01 00:09:04 amount of money every month to invest
00:09:03 00:09:06 you should always be consistent with how
00:09:04 00:09:08 much you invest every month i say 250
00:09:06 00:09:10 dollars is a good amount to start with
00:09:08 00:09:11 and whenever i paid out a dividend i
00:09:10 00:09:13 actually invested back into the company
00:09:11 00:09:14 that way i actually end up making more
00:09:13 00:09:15 money long term so since i'm making
00:09:14 00:09:17 around a thousand dollars a month in
00:09:15 00:09:20 dividends right now if i continue to
00:09:17 00:09:21 invest monthly at least 250 a month then
00:09:20 00:09:23 in five years from now i can expect to
00:09:21 00:09:24 make at least two thousand dollars a
00:09:23 00:09:26 month in dividends and of course the
00:09:24 00:09:28 stok price does tend to increase every
00:09:26 00:09:30 single year and so that's also a way i'm
00:09:28 00:09:31 gonna make passive income but i think
00:09:30 00:09:33 dividends are very rewarding and i
00:09:31 00:09:34 definitely recommend you look into them
00:09:33 00:09:36 so i just shared with you guys the five
00:09:34 00:09:38 ways i'm gonna make passive income to
00:09:36 00:09:40 get to the point of making ten thousand
00:09:38 00:09:42 dollars a month by the time i'm 25 and
00:09:40 00:09:43 of course then i can retire if i want
00:09:42 00:09:45 but it is important for me to mention
00:09:43 00:09:47 that retiring doesn't mean i'm just
00:09:45 00:09:48 gonna sit on a beach and do nothing i'm
00:09:47 00:09:50 probably gonna be still doing things
00:09:48 00:09:51 like building businesses and also doing
00:09:50 00:09:53 this youtube channel because i actually
00:09:51 00:09:54 do enjoy that stuff but remember
00:09:53 00:09:55 retirement is different for everyone so
00:09:54 00:09:57 if you just want to sleep on a beach all
00:09:55 00:09:59 day then you can do that and i wish you
00:09:57 00:10:03 the best of luck with your future plans
00:09:59 00:10:03 and i'll see you in my next video
00:10:06 00:10:08 you

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