How I Built 5 Streams Of Income By Age 23 💸 (Each $1,000 to $10,000 a MONTH!)

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so in this video here I'm going to be talking about my five different sources of income and how I was able to build up five sources of income by the age of 23 years old mostly because I don't think this is very common I think most people in their 20s even into their 30s have one source of income and that is the income from their job and then maybe in their 40s or their 50s hopefully sooner but the unfortunate reality is that most people wait until that age to begin exploring different sources of income and that is primarily when people begin to explore earning income through investments but I really didn't follow the traditional model I did up until a certain point and then I said you know what I don't like this old model for a number of different reasons and I started following my own model with making money and building my business and so I want to share with you guys exactly what my sources of income are when I began making them and basically the timeline here of starting off as being somebody with one source of income and moving up to having five different sources of income okay so first of all we're gonna start back in April of 2015 that is around when I graduated college I just turned 20 years old and I got my first source of income that was my first full-time job and I had just that one source of income for a while now I did save a lot of the money I was always always been a relatively frugal person so I saved a lot of money but I was relying on that one source of income which was the income from my job at the time now that is when I read a book called Rich Dad Poor Dad very popular book if you guys have not heard of this book before get a copy check the library maybe you can find it online but I'm gonna link it up down in the description below if you guys want to grab a copy of this book but that is when I learned about working for your money versus letting your money work for you and I said you know what I want to allow my money to work for me and that is when I decided to have a second source of income that is when I made my first investment of $5,000 into the stock market now at the time I actually invested in mutual funds because I hadn't really learned about what mutual funds even were the expenses you were paying the management fees and so down the road I eventually totally took to my that mutual fund and you know invested it myself but that is what I did at the time this was in August of 2015 I opened up a mutual fund with $5,000 and at that point I became somebody who had two sources of income and if you guys are familiar with Robert Kiyosaki I'm sure you've seen the cash flow quadrants as far as being you know an employee a business owner self-employed or an investor so that was when I was both an employee and an investor and this was a very crucial moment for myself because I had finally had two sources of income now was my source of income much not at all I wasn't making very much at all from my investments of an investment of $5,000 I was probably making a couple dollars a month if that but I had become somebody with two sources of income even though that source of income was very minor at the time now after that that is when I read a book called click millionaires another book I'm gonna link up down in the description below and this was all about how people were making money online all these people who became millionaires with the internet with a computer just like this and I just became so fixated on this idea I said you know what if all of these people have done it I'm gonna do the same thing I'm going to hopefully one day become a millionaire online I'm in the process of doing that but I said I'm going to do that too and that is when I decided to start my side hustle this was October of 2016 and my side hustle was a YouTube channel where I was teaching other people about at the time I was talking about fitness I was talking about the stock market and I was talking about personal development I was trying to cover all these different topics at once eventually I narrowed down to just you know personal finance and investing but at the time I was trying to cover all these different topics but October of 2016 is when I started my youtube channel and I was very aggressive with this side hustle I was working on it for probably twenty or thirty hours a week on top of having my 40 hour a week job but at that point in time I had three sources of income now were these huge sources of income absolutely not my job was paying for the bills all of my investments any returns I was making dividends those were reinvested back into my investments and then third of all my side hustle I was making like a couple dollars a month the very first month on YouTube I think I made about three dollars so it was not a lot of money but it was three sources of income at the time and these were income sources that had the potential to grow so moving on from that in June of 2017 I went from having three sources of income to just two sources of income I got rid of my job I got rid of my primary source of income which was crazy at the time but I wanted to go all in with my side household my YouTube channel and that became my full-time gig so in June of 2017 I had just two sources of income which for my investments which I was obviously not living off of or touching and my side hustle so really I had just one source of income that I was living off of now I stayed with those two sources of income for a while until I realized that there was a ceiling to how much money I could earn with having a YouTube channel there's only so many videos that you can make I was churning out content every single day but my earnings were pretty much stagnant and I realized all right I got to figure out another source of income from this YouTube channel and that is when I discovered digital products and basically having an online course so that is when I decided to build an online course sell my own online course and in August of 2017 I launched my course and that is when again I moved on to having three sources of income number one being my investments number two my YouTube channel and the number three the revenue coming from the sale of my digital products so August of 2017 I was back to having three sources of income now after that I didn't change my income sources for over a year up until June of 2018 I had just these three sources of income I made a purchase I purchased an Instagram account called investing simple and this also came with a blog so I consider this to be its own source of income I linked I basically lump the blog and I lumped the Instagram account together into one category and this is now a fourth income source that really has nothing to do with the other three other than the fact that it's related to investing what I like about investing simple is that it's a totally different platform so if I woke up tomorrow and my youtube-channel vanished or all of a sudden nobody was watching my videos I would just jump over and go full-time with this blog and I would go full-time with the Instagram account and if you guys want to follow me on that Instagram account it's down below and the blog is just investing simple da blog I would love to have you guys check it out there's a lot of good resources over there but anyways that was my fourth source of income and then in July one month later that is when I figured out what my fifth source of income would be and that was affiliate Commission affiliate commission from my blog and also from YouTube videos that I've done reviewing investing accounts out there now I did make a small amount of affiliate Commission in the past from Amazon affiliate links but it was such a small amount of money that I didn't really count it as a major income source but that was my fifth source of income there when I decided to explore the Avenue of making money through affiliate links and affiliate marketing and that was as recently as July of 2018 and I am proud to say now that other than the investing side all of these other income sources are making me over a thousand dollars a month some of them over ten thousand dollars per month but the investing is more of a long-term thing there and obviously I'm not living off up or drawing from those accounts I'm putting money into those accounts and down the road that's gonna be the money that I live off of earning enough passive income from your money that you really don't have to do much every day that's kind of the goal but all these other income sources are $1,000 a month or more some of them over $10,000 per month but there are three key lessons that I want you guys to take away from this sure it's cool I guess that I have five sources of income but at the end of the day who really gives us about me and what I'm doing all that matters is what you're doing are you still relying on one source of income are you still relying on maybe two sources of income you really have to start looking at this in deciding is this something I want to do myself the first point I want to make here is that the average millionaire has seven sources of income they are not relying on one source of income and if you are relying on one source of income which is your job if you lost your job tomorrow all the sudden you're making no money and so I would not recommend relying on one source of in it's not like it used to be for your parents where you know you would get a job and you'd work that job for 30 or 40 years nowadays people are changing careers all the time people are getting laid off there aren't really as many unions and so there aren't as many of these jobs that are secure and when you look at these people out there that are relying on one source of income from their job that is more risk than I would be willing to take so just remember the average millionaire has seven sources of income the second thing I want to point out here is that each one of these sources of income I built them one at a time so people hear this that's the average millionaire has seven sources of income and then they automatically think I need seven sources of income and they try building all of these income sources at once and you can't do that you have to build each one slowly build it over time build a quality source of income and then move on to the next one you can't do this all at once do not attempt to do that it's just not going to work out for you and then the third and final thing I want to mention here is that you're going to need to replace these income sources as needed there's not many things out there that you can just start start making money and it's never going to stop it's not like a spigot that you just turn it on you're gonna have some income sources dry up entirely and you're gonna have to explore different ways of making money and there were a number of things that I tried that I actually failed with up until this point I tried selling merchandise on my channel that was one example people weren't really interested in merchandise and so it was a it was an income source I was trying but it just didn't work so I had to try something else and maybe at some point in time nobody's gonna buy my digital products or maybe the YouTube revenue dries up you're just gonna have to develop a different source of income but the main thing that you guys should see here is that I am not relying on any one source of income or any one platform and if you are somebody who is an entrepreneur or basically anybody out there you should be diversified across multiple income streams and not relying on just one but anyways guys those are my five sources of income this is how I was able to build five income sources by age 23 I am NOT special literally anybody in the world can do this so I encourage you guys to try it out but thank you guys so much for watching this video let me know what you think down in the comment section below and I will see you in the next 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