It used to be that you could get a job, work for 30 years, retire and live a decent life.
Today, that path has gone out the window for almost everyone. Pensions are almost non-existent, and job stability has cratered.
Simply put, the average worker isn’t incentivized enough to stick it out. And even if they do, they could get rug pulled in a layoff.
So if your ultimate goal is to start a side hustle that allows you to replace the income from your job with passive income, this is the video for you.
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Watch below, or keep on reading to learn more!
Ryan runs a successful YouTube channel focused on money and investing, which he started in 2016. He also owns a portfolio of digital business, all earning passive recurring revenues.
Now, Ryan teaches others how to create additional income streams.
So I’ve been making videos on my channel for over 6 years now.
And if you asked me if starting a YouTube channel was a good idea, during almost all of those years, I would’ve said no.
And that’s because YouTube was largely a platform that rewarded you for what you did in the past, such as building a massive subscriber or content-base. However, there was a clear shift in the algorithm that took place in mid-2022.
In my case, the portfolio of videos I created over the last half-decade was slowly declining in viewership each month. This was a trend across almost all of YouTube Finance.
However, a select few channels were doing significantly better than anyone else - and these were the high production quality creators. This shift in the algorithm has allowed an entire new wave of creators to have a rapid rise to fame - similar to mine in 2016 when there was no competition.
So how can you join the bandwagon during this disruptive time on YouTube?
I’m gonna give you a run-down of the entire process for a high quality video today.
But there’s one final crucial component, and that is music and sound effects.
What separates a good video from a bad one is usually exactly this.
Back in December, I started using Epidemic Sound to source high-quality audio tracks and sound effects for my videos.
And I did this to differentiate myself from others in my niche.
It was also important that I didn’t receive any copyright strikes, or use the same generic YouTube audio library tracks like everyone else.
So the very last step of my editing process - and my personal favorite - is sourcing my music and sound effects from Epidemic Sound.
So everyone knows that ATMs are the ultimate passive income hustle.
You can buy a machine for under $4,000 used and start printing money. All you have to do is fill it back up with cash.
However, there’s one major hurdle faced with this business, and that’s finding places to put machines. This led me to thinking about whether or not it was possible to buy an existing ATM business.
I did some research, and that answer is a Yes. I found a site ATMBrokerage.com that sells both ATM Machines and ATM Routes. These Routes are the businesses for sale - or clusters of fully operational machines in a given location.
The crazy thing is, some of these are offered pretty cheap. Here’s a listing in Southern Washington for a 3 ATM Route.
The ask price is $21,000 and the machines did $700 in average monthly profit in 2022.
Over the course of a year, that’s a total profit of $8,400 - or a cash on cash return of 40%.
Then, you could reinvest those into other Routes for sale in your area, or simply buy more machines and grow your existing ATM Route.
This next idea sounds a lot harder than it is, but it involves learning a process that you can help others with for a fee.
And while you’ll start out doing the service yourself, you can document procedures and hire this out easily.
So what are examples of this type of business? Well I’ve run into three of them firsthand here in South Florida:
So find a niche service to offer, learn and document the process and get started.
This next side hustle involves using a combination of Google Auto Suggestions and Google Trends to find ideas for digital templates you can sell on Etsy.
Everyone is familiar with the digital goods business now, but very few people know how to find low competition ideas:
I did this myself, so if you wanna take action on this idea, consider the following templates:
And if you end up finding a category that is too Broad, such as Discord templates, you can do additional searches around that such as “discord templates for” generating these results:
From here, you can jump over to Google Trends to see what the traffic looks like for this trend over time.
Apps are one of the holy grails out there for earning passive income. The problem being is that it’s unbelievably expensive to launch your own app today.
According to Velvetech, app development costs range from $10,000 to $500,000 - just to get started.
But similar to the ATM idea, what if you could simply buy an app that’s already making money? Surprisingly, you can buy a cash flowing app for a lot less than the cost of developing one from scratch.
Over on Flippa, I found a few app listings that seemed rather intriguing to me.
And before you go out and buy an app, you should learn how the industry works and what goes into maintaining an app.
In order to quit your job, what you need to do is replace your income.
It’s difficult to do this solely relying on investments like stocks, but far easier with a side hustle or business.
So if you have a lot of time on your hands, get started with building a passive income side hustle that will eventually replace your income in a few years.
For the 1% who are ready to take their side hustle journey a bit more seriously, I wrote a book about side hustles.
It covers all phases of the side hustle journey, and you get access to a members only discord where you can ask me questions along the way.
And you can grab a copy in person at most Barnes and Noble stores across the United states, or it’s right on Amazon.
So grab a copy today and let’s get started on your side hustle journey together!