In this video we're gonna break down how I built seven streams of income in my 20s
and also I want to break down the roadmap of how you can do the same thing and
actually give you a lot shorter roadmap so that you don't have to go through all the struggle and the pain and
Everything that I went through when I first started now the truth is unfortunately most people
Have just one stream of income. They just have the normal day job
So if they don't go to work that day or if they're sick
Or if they get injured or something happens and they don't go into work where they get fired
Then they have zero streams of income. And so if you don't have money saved up you're getting in debt
Extremely quick now back in college. I had learned that the average millionaire has seven different streams of income
So ultimately that was my goal. I was like man if I could have seven streams of income. I could be a millionaire
I've been making some good money, and I probably won't have to worry about money at all at that point
But the truth is I went about it a completely wrong way of thinking about it
so what I did was I went out and I tried to get seven streams of income right out of the gate and I
Was basically just running around with my head cut off right because there was just so many things
I was focusing on I was trying to start all these different businesses
I was trying to throw events and parties and different things of just like trying to make all this money all these different ways
But then it hit me. I learned that the average millionaire that has these seven streams of income
They're not working for their money in all these streams of income. They're having their money
Actually go through and work for them. So that was a complete paradigm shift for me and
Understanding that I need to have my money work for me. But in order to have your money work for you
You actually had to have some money, right?
So what I did was I pulled back and I was like, okay seven streams of income
I need to actually get some focus and focus on just one stream of income
to be able to go through and create a second and then a third and then a fourth and slowly grow to
the seven streams of income which now I finally have
After many years of going through and working at this and some are bigger than others
But it's a start and really with this whole money game. It's not a get-rich-quick type of scheme, right?
It's it's the long you want to go through and secure your financial independence for the long-term. One thing. I like that
Tony Robbins says is people
overestimate what they can do in one year
but they underestimate what they can do in a decade so back to my story and I want to exactly
Recommend doing it the same way
I pulled back from all the seven streams of income and I just had one clear focus
I was starting up a business which if you guys are getting started right now
I would definitely not start out with being entrepreneurial and going start your own business
I'd probably have a steady day job whether it's part-time or full-time
Where you can actually pay the bills and you don't actually have to worry about your monthly
expenses and then you could start something up on the side and
Typically, you can find a day job that not only pays the bills, but you can also learn a valuable skill set
so what I did is I went through and I was like
I'm gonna go all in with this whole digital marketing real estate lead generation thing. And so I went and for the first year I
Struggled I I didn't make very much money. I was maybe making
$1,500 a month on a high-end
but it was at least enough money to actually go through and pay my monthly expenses my bills and then I
Continued to focus on just this one stream of income and although it was like basically creating a job for myself
It was creating a business that I owned which I knew down the road would actually benefit me a lot more
Than if I just had a normal day job
So I went I worked until I was able to get this day job this business that I had created for myself
To a steady income where I didn't really have to worry about my my own personal expenses
now the great thing about starting your own business is there's a lot of different ways that you can actually
Generate income that isn't necessarily just working on the business
so obviously as I mentioned guys my first stream of income was my salary that I was paying myself every single month just so I
Could live so I could survive but because I had started my own business
What I was doing is I was getting the right credit cards to pay for the business
Expenses and those credit cards would have different reward points
where I could cash out those reward points at the end of every single month and
Create another source of income for myself and the cool thing about these credit cards - if you want to go through and use them
For travel there's there's different ways. You can go through and get gift cards get cash back and travel
So there's a lot of different things that you can do
but this is another source of income that I was able to create for myself by starting my own business now a
Third stream of income that I was able to create with this business is I was paying myself a monthly salary
Right, so as pay myself a monthly salary so I could pay for all my personal expenses my rent my food
You know having my family and everything and then I had the credit card rewards
But then at the end of every single year or you could do it quarterly as well
What I would do is pay out dividends from the earnings of the business that year
So instead of paying myself every single month the amount of money that the business made I pay myself a set salary
so I knew what money was coming in and how to actually go through and make money in the business and I was putting all
The money back into the business but with the dividends this was actually creating a third source of income a third stream of income
From this just one business now at this point, I actually had some money that I could make that money work for me
Which was a great thing and I kind of wish I learned this a little bit sooner
But it was around this point. I learned about Roth IRAs, which basically a Roth IRA is an individual retirement account
Where you can put money into this account and this is going to go through and game earn compound interest which is a hundred percent
tax-free and I actually shot another video that I'll link up here about Roth IRAs and how they can go through and benefit you and
You take that money out at 59 and a half and you're able to go through and earn all this
Compound interest and so this is not actually money that I'm going to be seen on a monthly basis or even a yearly basis
But this is an income stream that is making me money so that I can be benefiting from that in my retirement
So at this point I had my monthly salary
I had the credit card reward cash back points that I was getting and I also had dividends that was making money off of
Now at this point I was married and my wife she had a full-time job. Then this is about a year ago
she found out she was pregnant and we were gonna have a baby and my
Main goal is I didn't want her to have to work once she had the baby
I wanted to her to be able to if she wanted to work great
But I also wanted her to be able to stay home with our child so that she wouldn't have to worry about another thing
Now with this thought in mind I was like, okay
I've got to be creative because we've got my personal income and we're very used to having a second income, which is really nice
But what are some creative ways that I can go through and make some extra money?
So when she stops working?
we can be prepared we can be set so we don't take a financial hit and honestly guys it was around this time that I
started meeting all these friends of mine that were big
Youtubers and they were telling me about what YouTube had done for their business and how they've gone through and grown
Their YouTube channel and they've mer making money off of YouTube ad revenue and they're making money off of course sales
It was creating all of this business for them and it was all done a hundred percent organic
That means they don't have to spend any money on advertising
and I was like
You know what?
This could maybe be a good route where I could go through and start a YouTube channel
Start making some side income some side money
So that by the time my wife actually has our baby nine months later
I can hopefully be able to replace her income so we don't have to worry about it
So I went through and I started making some youtube videos and I'll be honest those first couple months
I was a little bit of a doubter because you know, I think it was like my third or fourth month
I finally hit a hundred dollars in a month now
I'd already put in a lot of time into creating these videos and at that time I was creating a new video every single day
now
although it only took about
15 to 20 minutes to shoot the video and I usually do it in one take so the editing was that long I
Was still putting time and energy into these videos every single day
Now the cool thing is is that the by the time our son was born I was making over
$3,000 in ad revenue
Just from my YouTube channel. So this is where the fourth stream of income comes in is
YouTube ad revenue from the YouTube channel and from there
I saw like a lot of my friends there making money on YouTube and that's great and that's cool
but they were seeing a lot more money created from the courses that were said they were selling from their
Expertise of what they were an expert in now
I knew I was a I was pretty damn good at Facebook advertised and I knew I was pretty dang good at lead generation
I've been doing it for a few years and I figured you know what I could probably sell a course on what I know what
I've learned from spending over six hundred thousand dollars on Facebook advertising in the last couple of years and break down how to properly
Generate leads and make money and get exposure market your business on Facebook
and so what I did is I went through and I put together a course on how to use Facebook Ads and
also how to build a marketing agency
Just like had done for my real estate business and with our real estate software and so by doing this I was able to create
a six source of income from YouTube
I was able to create the ad revenue money and also the course sales money so that by the time
That our child was born he was born just a month ago. I
Was actually able to go through and match what my wife was earning from her job
So when she quit her job and now that she stays home
Every single day with her son and she's able to go through and do what she wants if she wants to go to work
She can she doesn't have to and she doesn't want to she doesn't have to
but it's been a huge blessing in our lives to be able to go through and have this YouTube presence as personal branding of
the ad revenue
As well as the course sales now because of these six other income streams that I've been able to go through and create
We were able to go and have finally enough money to actually
Invest into real estate. So this is the first year, we've actually gone through and invested in real estate
and
I'm not the type where I like to go through and
Invest money in the real estate and then have a mortgage and then the renter pays off the mortgage and all that stuff
I like it'll be a little bit more safe
So I like to go through and make sure that I've got enough cash to pay for
Whatever we're going through and buying so that we don't really have a monthly mortgage
And if we do, it's very minimal so that if one month, there's not a tenant or there's not something going on
You don't really have to worry about it's not a huge stressor
So this has been our seventh stream of income is real estate, and I'm sure in the future
I'll make some more videos on that and kind of like the ins and outs of how to go through with that
But guys those are the seven streams
So first my salary from the the business the job that I created
second credit card reward points
third the dividends from that business that actually paid out and then we went through and created a Roth IRA for our
Retirement account which is a great place to go through and invest money
You can only put fifty five hundred dollars per year into that account
So it's really not that much but the goal is to max it out every single year earn money on
compound interest and then by the time you're in retirement
You're doing pretty good. And if you start that early enough
You can really see that money compound and it's a huge blessing for you in your life
And then the fifth one is the YouTube ad revenue that I generate from this channel for you guys watching the videos
Which I'm very grateful for you guys watching these videos
I really hope you get a lot out of them if you guys are brand new here to the channel
Feel free to subscribe hit that notification bell then go check out a lot of my other videos
I have a ton of videos on Facebook advertising on Instagram marketing on passive income
And also I created a free passive income checklist
Which really breaks down a lot of these different strategies that I'm telling you in this video
So it's down in the description or down in the comments section
you guys can grab that a hundred percent for free where I dive in a little bit deeper on how you
Can go through and use these same exact strategies to generate passive income in your business now
So that was my fifth is the YouTube ad revenue?
The six is the course sales that I'm able to make from building the YouTube channel
And then the seventh is real estate now if you guys go and look at all these different income streams
You can see that there's really only two core focuses
I've got in my business right this pain the salary the dividends the credit card rewards and
Even kind of you could throw the Roth IRA into that and then you've got the YouTube channel
Which is another source and you get into ad revenue and the course sales
So if you're smart about it, and you really position things the right way
you don't have to be doing seven different things and you can have your money working for you like in real estate or in a
Roth IRA or any of these other investments funds we're going through and investing into stocks or something like that
So just a quick recap guys if you guys are watching this and you're like well Jason
How do I go through and get started of creating my income streams my multiple income streams?
Well, the first thing that I would do is make sure that I wouldn't start out with absolutely zero job
I want to start out completely from scratch. I would get a day job so that you can actually pay your monthly expenses
And you just don't even have to worry about that
Okay, the the peace of mind that comes with just having knowing that you're gonna be able to pay your monthly expenses
You can't exchange that for anything?
So make sure you get that day job ideally a job that is gonna get teach you a skill set that you can leverage
For some type of entrepreneurial space whether that's in real estate in digital marketing or something else
That's really gonna benefit you and it
something that you're interested in then from there once you have this day job once you have something secure in your off hours and the
evenings on the weekends
you actually have a lot more time than you think to go through and
Learn a skill set if you don't have one already or if you have a great skill set that you're an expert on
Start a YouTube channel go through and start these personal branding videos and brand yourself as the expert
In whatever
you're the expert in now don't go through and
Become a fake expert actually know what you're talking about know what you're doing or else you're not really gonna gain any traction
so if you're not an expert quite yet and
Anything that what I would do is I would go through and gain a skill set whether that's in facebook advertising
Start in an Amazon store a Shopify store and real estate
Whatever. It might be go become an expert really learn that craft for a couple of years and then come over and start a YouTube
Channel start creating that personal brand getting that organic grow that organic following and then don't right out the gate
Don't start a course and selling a course just because you see all these other people making so much money selling courses
Alright what you want to do?
So you want to start making YouTube videos and you want to see?
What your audience actually wants from you what they actually want to learn and then from there
you can figure out what they want to learn what they'd like a course to be about and
Then you can go through and create a course selling your expertise
Now the thing that I love about a you too channel is that you can really create it about whatever you want
So if you're an expert in Star Wars or Star Trek or basketball or whatever it is
You can actually go through and monetize that so when you're starting a youtube channel
You want to think about what you absolutely love what you're passionate about and what you can be talking about every single day
Okay
So you're gonna have your day job you're gonna go through and you're gonna become an expert in some type of side
Entrepreneurial business or if you're already an expert start a YouTube channel or a blog or something to be able to start creating that personal
Brand then from there. You'll be able to create a course. So that'll be at least three streams of income right there from there
You'll also have probably enough money to invest into a Roth IRA
That'd be your fourth stream of income
and then as you go through and you slowly build this you'll be able to
invest into other things like stocks or real estate and if you've started your own business you can use
The right business credit cards to beginning cash back on all of your business expenses
So once again guys if you guys want my passive income checklist where I break this down all a little bit more for you guys
Go down in the description or the comments and grab that also if you guys are brand new here
Be sure to subscribe the channel also hit that notification bell
We launched new videos every single week on how to generate more leads make more money and grow your business
And also if you guys found this video helpful, go ahead. Give it a thumbs up also comment down below
We'd love to hear what you guys have done to go through and create multiple streams of income
Create passive income for you in your life
And with that said thanks so much for watching guys, and I will see you in the next video