10+ Ways To Make $19,000/Month Lifetime Income
Lifetime Income

10+ Ways To Make $19,000/Month Lifetime Income

– In this video, I’m gonna reveal all of my passive income streams from YouTube, photography, music, and more. (upbeat music) First, a couple of things. If you haven’t yet seen my video on how I make $36,000 a year in passive income, check out that video after this one, because I cover the non-YouTube sources in a little bit more depth. Second, let’s again cover exactly what passive income is. It’s simply income generated without having to actively work for it. It will take some time or money or both to get set up and running smoothly. But from there, it shouldn’t really take more than an hour or two a week of your time to maintain. Make sense? Cool. Third, this isn’t a video to flex or anything like that. Instead I think, A, it’s important to see why having so many different income streams is really important when you’re a small business, especially in the creative field. And B, I hope this gives you some ideas on ways that you may be able to branch out and diversify your income stream as well. With that being said, let’s get into it. Oh, and if you wouldn’t mind just hit that thumbs up button like right down there on this video. That would really help this channel out. So first, let’s cover some ways that my wife and I are able to generate passive income outside of YouTube. Now I’ve covered these revenue streams before, so I’ll try to make it quick. The way we first started generating passive income was with stock photography. Since we’re both photographers, it made sense to upload the photos we had just laying around on hard drives and put them to work generating some revenue. We’ve essentially merged our stock portfolios since we’ve gotten married. So Rachel’s account generates the most revenue since that’s mainly where we upload photos to. But with both of our profiles combined,  this generates roughly $492 per month on average. And similarly, we also upload footage we’ve shot to be licensed out for people to use. We really haven’t devoted the time to upload more than two shoots to this platform,  so this is definitely an area we could expand on. So right now, this just accounts for $20 a month. So another source of income for us is the music that I make. I spend a lot of time creating tracks specifically for licensing on a site called Artlist. Since I’ve used that site for like four years as a customer, I know what music works really well for videos. And I also know what there’s a market for. So on Artlist, there isn’t a ton of lofi hip hop music. And since that’s been hugely popular in recent years, that’s what I focused on creating the most. When I’m really in the zone, I can make one track in a day, maybe two. Once I get a collection of five or more songs together, I’ll upload that to Artlist. I’ve also made some Stranger Things style music, some more vlogy Casey Neistat style music, and even a funky disco pop album. Sometimes I make music based on just what I feel like making. Other times I’ll go on Artlist, see what’s popular, see what people are downloading, and see if I can make something in a similar genre. The downside is the site only pays out once a year,  and I should be getting that royalty payment any day now. And with over 40,000 downloads, I’m anticipating a payment of around $24,000, which equates to $2,000 a month. So yes, it does take time to do upfront, but it’s really enjoyable for me. It never feels like work. And once I’m done with it and upload it, I don’t have to do anything else. In terms of promotion, I will link it in the description of our YouTube videos, but the vast majority of the downloads come from people finding it on the site organically. You really don’t need to have a social media audience of any kind to do this. Now in the same vein after I upload it to Artlist, I also upload it to streaming platforms for distribution. I didn’t think streaming revenue would account for much at all, but after my first release got a little traction, maybe from people hearing it in videos and then Shazaming it or whatever, I now have over 1 million streams. And that accounts for roughly $340 per month on average. Now to switch things up, a few years ago I was buying and selling vacant land. And I sold one lot using seller financing where I act as the bank and they pay me a down payment and then monthly installments. I paid $5,000 for this five-acre parcel in Los Angeles County, but in the desert on the other side of the mountains. I ended up selling it just a few days after I bought it for a $500 down payment and $175 monthly installments for 96 months. This comes out to a total of $17,300, which is a $12,300 profit for me. Okay, so I know I’ve covered those passive income streams before. So now let’s move on to passive income from other sources. Now these are more tied to our YouTube channels, mainly Mango Street, which focuses on photography and filmmaking tutorials. Since these sources are tied to YouTube channels, if we decided to stop uploading altogether, these would eventually peter out over time. So it’s not truly 100% passive. It’s passive income that’s reliant on active income. First we have AdSense, which you really could just classify as active income since it is directly tied to us uploading videos. For Mango Street, it’s honestly not a lot for a channel with over 1 million subscribers. It just averages out to about $1,800 per month. If we completely stopped uploading to this channel, it would still generate a few hundred dollars a month. I’m sure. And then eventually it would dry up to something less significant. And the same goes with our two new channels. If these stats remain consistent, this channel earns about $2,400 a month, and Rachel’s fitness channel earns $3,800 per month. Obviously these numbers are subject to change based on views and advertisers’ budgets, but altogether AdSense accounts for about $8,000 per month. Next we have affiliate income. This is something we really don’t spend much time on, and so we probably don’t have it optimized very well. We also don’t like selling to our audience very much, so we’ll put links in the description of the gear we use, but that’s about it. So for Amazon, their commissions are pretty horrible. This accounts for roughly $185 per month for us.  I know plenty of smaller channels probably outearn us in this department, but our channel really doesn’t place a big emphasis on gear. And we don’t really give people a call to action to click on gear in our description very often, unlike this channel where I often suggest you sign up for Webull and get four free stocks when you deposit $100. And speaking of that, I haven’t really been promoting Webull long enough to extrapolate any meaningful data of how much revenue it generates, but it’s not yet very significant. Now, in terms of other affiliates, there’s really not much to report. Our biggest one other than Amazon is the music licensing site Artlist, which accounts for about $100 per month. So altogether, our affiliate commissions are about $333 per month. Next up we have Mango Street merch. This is merch that we had designed and printed and we have Rachel’s mom fulfill all the orders. And once again, we don’t promote it too much. We don’t sell a crazy amount of it or anything like that. So it just accounts for about $121 per month. Moving right along, we offer two online photography courses. One is on wedding photography and the other is on creative product photography through SkillShare. Our course through SkillShare is classified as a SkillShare Original, meaning they reached out to us. They helped produce the course. And so we have a different payout structure with them. But altogether, these courses bring in  about $3,000 per month in revenue. I am planning on doing a music production course on SkillShare without involving them directly so I can see what kind of revenue the average teacher could earn on the platform. So stay tuned for that, as I’ll be showing you how I go about creating the course and then how much revenue it ends up generating. Next we have a couple of other digital products, the first one being our LUT collections. In case you aren’t familiar, LUTs are essentially filters that you put over your video footage to help it achieve a certain look. Like here’s a shot without a LUT. And now here it is with one of our LUTs on it. We have two LUT collections. One’s an older collection that we sell on our site for $25. And the other one is one we developed with our friends at Gamut and those sell for $95. We have a revenue share with them, and it’s quite literally mailbox money since they send us a check in the mail every month. Together, these LUTs account for about $586 per month. It’s one of those things we don’t mention a lot, but we do link them in our descriptions since we use them in all of our videos. Finally, we have our biggest source of passive income, Lightroom presets. If you aren’t a photographer, you might not be familiar with them, but it’s essentially the same exact settings we use to edit our photos. So straight out of camera, it would look like this. And then you apply a preset, and then it essentially color grades it the same way that we would. So basically if you like the way that we edit our photos, you can get the same exact color grade on your photos with these presets. We are really careful to make sure that our presets are as good as they possibly can be. And we spend a lot of time working on them, instead of just pumping out half-baked products just to generate some money. And the fact that we actually use them on all of our photos says a lot. So we generally just release one collection a year. But they do sell well, which is crucial to our business because as you’ve seen, AdSense does not pay us very much. We do over $50,000 a year in preset sales, which generates over $4,000 a month. Our YouTube channel certainly is one of the driving factors leading to these preset sales. But we also have run Instagram ads in the past, and it’s something where we can always pay someone to handle the ads for us. And we can have a pretty hands-off income stream from those preset sales until that customer pool gets tapped out. So altogether, these sources bring in over $19,000 a month. Of course, the large majority of these sources does rely on us uploading pretty consistently to YouTube. So they’re not truly passive income, but rather ways to add passive recurring revenue to an active business. One other thing I want to cover is a followup to this video where I made trending t-shirt designs to sell on Redbubble. At the time of this recording, I’ve sold $645 in passive income, but since it was based on an internet trend, I don’t expect those sales to continue. I am working on several different projects right now for this channel, but if there’s something specific that you want to see me do, leave me a comment below and let me know what that is and I’ll do my best to make it happen. I’m also gonna be working on a series where I try to generate passive income without needing a specific skillset. So make sure you’re subscribed and hit that notification bell so you’ll know when I post. Thank you so much for watching. I’ll see you guys in the next one. Bye. (upbeat music)

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