Making $27K in passive income per week
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Ali Abdaal reveals his secrets for us to copy
Passive income is money generated from sources that don’t require active ongoing involvement. Unlike active income, passive income is not directly correlated with your time. Passive income is not free or easy income, and it often requires work, especially at the beginning. But once established passive income continues to generate revenue, after the initial lift. For example, writing a book requires a tremendous amount of time and labor, but once that book is written, it can be sold over and over, indefinitely, to generate passive income.
Generating passive income is an important part of gaining financial freedom. Some argue that it is the most important element of wealth Warren Buffet says, that “if you don’t find a way to make money work for you while you sleep, you will work until you die.” Millionaire mentor and coach T. Harv Eker says that you only become financially free when your passive income exceeds your expenses.” — T. Harv Eker
So let’s learn from someone who has successfully created multiple abundant streams of passive income. Ali Abdaal is a trained medical doctor turned full-time Youtuber. At the time of this writing, Abdaal has 2.81M followers on his YouTube channel, but surprisingly most of his passive income comes from other sources. Here is what he does:
- Stocks: he has been investing in an S&P index fund for approximately 7 years and now has a portfolio worth $350K. At roughly10% return, he earns $682/week from his stock portfolio.
- YouTube Channel: it took him 6 months and 52 videos to become monetized. The average person takes 12 months and 90 videos. After monetization, the average revenue per 1000 videos is $2. Currently, he makes $3K/week.
- Podcast: he and his brother have a weekly podcast, which he started after having a successful youtube channel. The average podcast solicits between $20 and $30 per ad, depending on the number of listeners. Currently, that makes $625/week.
