#215 - 10 passive income streams in under 10 mins

I think it's much better to approach these business models as active. So you can delete the word passive out of your vocabulary. The simplest way if you want to do it, it's the most effective passive income stream ever is dividends from index funds or stocks. You buy a piece of real estate and rent comes into your bank account from the tenant. If you get a property manager to look after it, it's fairly passive. Network marketing,

I've been able to build passive income out of this. It starts off as active income, you actively have to build it, it's not that easy. Podcast, this is also semi-passive because... I'm Lloyd James Ross, seven-figure investor and entrepreneur, and I've helped thousands of business owners and professionals turn financial stress into success. If you're stuck in old money habits, overwhelmed by investing, or unsure where

to start, This is for you. I'll give you the mindset and strategies to take control, grow your wealth and achieve financial freedom. It's time to make your money work for you. But this is 10 passive income streams starting from number one, the easiest, the most effective passive income stream ever. is dividends from index funds or stocks. This is absolutely passive. You can buy an

index fund and you can literally be paid consistently from dividends from the fund without lifting a finger. It is the most passive income you will ever get in your life. How do I know? Because I have it and it takes the least amount of effort from me. It's the easiest to start and the easiest to manage. So it gets double green light. That's the best. Second,

real estate. You buy a piece of real estate and rent comes into your bank account from the tenant, and if you get a property manager to look after it, it's fairly passive. But it doesn't mean you do nothing, because you still have to do some paperwork with the property manager to actually manage that, get your tax savings, talk to your accountants, there's stuff to do. It's not totally passive, but of course it's hard to get into because real estate is expensive. So hard to start, Pretty

easy to manage. Number three, bonds. Up there with stocks is arguably the greatest and simplest passive income available to you. This would also include a term deposit, because it's kind of like a bond. Bonds are where you lend money, and you get an interest rate back. So if you buy a 30-year bond, a 30-year coupon rate will come to you. Twice a year, you'll get paid passive income. Problem with that is it's fully taxable, and you have to understand how to buy bonds. You

can easily buy bonds. Go to Google. Type in how to buy treasury bonds. You better go to the treasury department and buy them directly. Pretty straightforward. Pretty easy. Easy to start. Easy to manage. All right? It's up there with stocks. Next passive income stream, a book. Book will give you passive income from royalties, particularly if it's published. If it's self-published, you can get people buying it on

Amazon. It's actually, now with AI, quite easy to write a book, and it's also quite easy to manage once you upload it to Kindle KDP Publishing. So it's actually a really simple way to get passive income. The only problem with it is, I don't know how much you'll make, because you have a lot of people buying books to make it, so it's a lot harder in terms of how much money you can

make. But it depends on the quality of the book. Just quickly, if you're ready to take control of your finances but feel stuck, on where to start, I have a solution. My book, Money Buys Happiness simplifies investing and wealth building with practical steps to help you achieve financial peace. Get your copy via the link in the show notes and let's get your money working for you. Now back to the episode. Next one, network marketing. I've

been able to build passive income out of this. It starts off as active income. You actively have to build it. It's not that easy. Then you have to get residual recurring income from it, and eventually you can get passive income. If we didn't touch it now, we'd still get income coming to us, so it's very passive, but it doesn't start out that way. Very easy to start, harder to build to the point where you can actually take your foot off it. YouTube,

if this is not fully passive, this is semi-passive. How does it become semi-passive? Because YouTube is dictated by content. You have to actively do it. So like, actually doing stuff, building content. That's not automatic, so it's not fully passive. You can use AI to do that, but you still have to ideate the videos, do the AI, and upload it, so it's actually not fully passive. Although, when you start getting paid from YouTube, it's pretty good, but it will always be active from you. Number

seven, courses. People think they can just buy, build a course, Print money on demand. No, it's not fully passive because you have to send ad traffic to it. So you have to do content on social media or somewhere else to find traffic to it, unless you can get the traffic for free from somewhere like Google search. If you're in the highest ranks and people are going there automatically, then the SEO is pretty passive,

which means you are developing passive income. But to get organic traffic at that scale onto your course would take a monumental effort, but still possible. Number eight, podcast. This is also semi-passive because you have to always create content to actually put onto your podcast to actually get the results from it. If you put your podcast onto some sort of, I think Apple podcast has now like paid subscription services, you can get paid for your episodes. But again, you have to ideate

and create the content that's so valuable that people continue to pay. even when you don't work anymore. And I don't think that's possible, because they will be looking for the next thing. Otherwise, I'll cancel the subscription. So that's semi. Number nine, laundromat. How do I know this one? Because I own one. And with a laundromat, it's semi-passive.

Why? Because you need someone to clean it, you need someone to manage it. I'm gonna get a great business partnership with that, and my business partner manages it, runs it, and we're, you know, and so there's, it's not all passive. You have to look after it. It's an asset, okay? And then of course, number 10, I've got a buddy of mine who does this. He's got about 20, 30, 40 vending

machines. It's not fully passive. It is semi-passive, because once the vending machine is stocked and looked after, it will produce income to you, but you have to buy it, look after it, maintain it, and stock it, and that is not passive, unless you find a staff member to do it for you. It takes a lot of the heat out of it, but again, you have to manage the person to manage the thing. So the last half of these are semi-passive, but the first few I mentioned can

be fully passive. I think it's much better to approach these business models as active. So if you can delete the word passive out of your vocabulary, the simplest way if you want to do it is to buy an index fund, get dividend income. That's definitely passive and

it's the easiest and simplest. It's easy to start, easy to manage. That is the absolute most purest form of passive income. The rest of them, you'll do a lot better if you approach them with an active mentality and an active effort. Okay, so active effort at the start, passive later. Go and attack those. There's the 10. I think we did under 10 minutes. Which one are you building now? Which one are you most interested in? Leave it in the comments below so I can come and

have a chat with you about it. And of course, hit the subscribe button and go and check out the next video. Thanks for listening to Money Grows on Trees. If you enjoyed the episode, leave a five-star review on Apple Podcasts and Spotify and subscribe to us on YouTube so you never miss an episode. And if you're serious about building wealth, make sure to check out the links in the show notes and follow me on all social media platforms, at LloydJamesRoss for