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

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

startTime	durationTime	text
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