ONE OF THE MOST SIGNIFICANT TRENDS TO SKYROCKET DURING THE PANDEMIC IS CALLED PASSIVE
INCOME. AND NOW WITH HIGH
INFLATION AND SO MANY OTHER
COSTS, PEOPLE ARE SCRAMBLING
TO MAKE SURE. THAT THEY’RE OK
FINANCIALLY. SO JOINING US
THIS MORNING TO EXPLAIN
PASSIVE INCOME AND HOW YOU CAN
HELP FULLY HOPEFULLY SET
YOURSELF UP FOR SUCCESS WITH
IT. CRISTIAN BARNETT, THE
MANAGING DIRECTOR FOR FIRST
FLORIDA INVESTMENT SERVICES.
GOOD MORNING TO YOU. GOOD
MORNING, SIR. THANK YOU FOR
HAVING ABSOLUTELY ABSOLUTELY.
SO WE HEAR THAT A LOT RIGHT.
YOU GO ON THE INTERNET.
EVERYBODY SAYS PASSIVE INCOME,
PASSIVE INCOME. WELL, THERE’S
NO SUCH THING AS A FREE LUNCH
OR IS NOT, BUT WE CAN MAKE IT
A LITTLE EASIER. THAT IS TRUE.
YEAH. WE TYPICALLY ASSOCIATE
INCOME WITH WHAT WE.
>> WHILE WE’RE AT WORK,
PASSIVE INCOME HAS THE STORY
OF WHAT WE CAN LEARN, WHAT
WE’RE NOT AT SO CHRISTIAN,
WHAT ARE SOME OF THE EASIEST
THINGS THAT THAT OUR VIEWERS
AT HOME OR AT WORK WATCHING
THIS SHOW CAN DO TO MAKE SURE
THAT, YOU KNOW, THEY GET THAT
PAYCHECK AND THEN THEY GET
SOME OTHER MONEY ON THE SIDE.
AND ONE THING I’D POINT OUT IS
AND WE TALK TO OUR MEMBERS AT
FIRST FOR A CREDIT UNION ABOUT
THIS OFTEN IS THAT INCOME IS
OUR BIGGEST ASSET. SO A LOT OF
TIMES WE FROM FINANCIAL
PLANNING STANDPOINT, WE LOOK
AT A HOME OR SOME OTHER
DEPOSIT, THE BE OUR BIGGEST
ASSET, BUT OUR INCOME OR
ABILITY TO EARN INCOME IS OUR
BIGGEST ASSET. SO THERE ARE A
COUPLE DIFFERENT LEVELS ARE
DIFFERENT WAYS WE CAN EARN
THAT TRADITIONALLY WE’VE THE
RENTAL MARKET RENTAL PROPERTY
RENTAL INCOME IS IT HAS BEEN A
TRADITIONAL WAY TO EARN
INCOME. THE NEW AGE OF
AFFILIATE MARKETING HAS BEEN
THE BIGGEST TREND THAT WE’VE
SEEN BEEN MILLIONS OF PEOPLE
THAT HAVE COME ONLINE,
ESPECIALLY SINCE THE PANDEMIC
TURN THAT EXTRA LAYER OF
INCOME, ANOTHER SOURCE OR
ANOTHER SOURCE OF REVENUE, I
SHOULD SAY, OK, SAY YOU DON’T
A LOT OF MONEY TO SPARE. YOU
KNOW, YOU’RE JUST BASICALLY
LIVING PAYCHECK TO PAYCHECK.
LIKE SO MANY PEOPLE ARE. HOW
DO YOU MAXIMIZE WHAT YOU ARE
MAKING IT’S A GREAT QUESTION.
SO THAT IS THE REALLY THE
BLESSING OF KIND OF THE
DIGITAL AGE. FACT THAT A LOT
OF PEOPLE TAKE WHAT THEY’RE
ALREADY DOING ON THIS ON THEIR
SOCIAL MEDIA PLATFORMS AND
FIND A WAY TO MONETIZE THAT
THROUGH THAT AFFILIATE
MARKETING. SO WORDS HAVING ADS
THAT ARE JUST, YOU KNOW, A
PART OF YOUR SOCIAL MEDIA
PLATFORMS. THERE’S NO BARRIER
TO ENTRY TO THAT. THERE’S
REALLY NO COST IN DOING THAT.
AND SO CERTAINLY ONE THING YOU
WANT TO CALCULATE WHEN
STARTING THIS IS WOULD BE A
COST THAT TIME ASSOCIATE WITH
THAT. BUT THAT’S WHERE PEOPLE
ARE FINDING THE EASIEST WAY TO
EARN ANOTHER LAYER, DIVERSIFY
THEIR INCOME SOURCES. YEAH,
AND WE ALSO WANTED FOR THAT
ADDED LAYER OF PROTECTION
BECAUSE WE WE HAVE SEEN THIS,
ESPECIALLY DURING THE PANDEMIC
JOBS DISAPPEAR. PEOPLE DON’T
NECESSARILY HAVE THAT STEADY
STREAM OF INCOME. SO SO YOU
HAVE THAT BACKUP PLAN IT
WITHOUT A DOUBT AND CERTAINLY
COMING INTO SOME UNCERTAINTY
THAT WE SAYING WITH AN
INFLATION BEING SO HIGH AND
THAT SORT OF THING AND YOU
HEAR THE R WORD THROWN AROUND
A LITTLE THAT THAT IS A CAUSE
FOR CONCERN. SO AGAIN, WHAT WE
HAVE TO SIZE IS THOUGH, THE
MORE LAYERS OF INCOME THAT YOU
HAVE, CERTAINLY THE MORE
DIVERSIFICATION INCOME, THE
BETTER YOU CAN FEEL ABOUT YOUR
FINANCIAL POSITION. THE R WORD
BEING RECESSION TOOK A BIG
THANK YOU. SO IF YOU WERE TO
GO TO A BANK OR A CREDIT
UNION, LIKE FIRST FLORIDA,
WHAT ARE THE QUESTIONS YOU
SHOULD ASK? BECAUSE THERE’S
GOING TO BE SOMEBODY THAT THE
PROBABLY KNOWS A LITTLE BIT
MORE ABOUT WHAT’S MAKING MONEY
AND WHAT’S NOT RIGHT NOW. I
THINK THAT’S CRITICAL. I FIRST
AND FOREMOST, I WOULD
ENCOURAGE ANYONE TO DO THEIR
RESEARCH THE WEB HAS AN
ARSENAL OF INFORMATION ABOUT
PASSIVE INCOME SOURCES.
SECONDLY, I WOULD IF YOU CAN
ASSOCIATE YOURSELF WITH A
MENTOR, SOMEBODY WHO HAS
EXPERIENCE WITH REGARD TO PASS
OF INCOMES ARE IMPORTANT, BUT
CERTAINLY DON’T BE AFRAID TO
GO IN AND SIT DOWN AND TALK TO
A FINANCIAL PROFESSIONAL ABOUT
ALL THE IMPLICATION. CONSIDER
THE RISK THE TAX CUT
CONSEQUENCES, ET CETERA, FROM
DEVELOPING THOSE EXTRA LAYERS
OF INCOME. IT MIGHT JUST BE A
MICRO INVESTMENT, YOU KNOW,
PUTTING A LITTLE HERE AND
THERE JUST SUBMITTING A LITTLE
BIT EXTRA MONTHLY AND IT COULD
GO A LONG WAY. AND IN THE LONG
TERM, CRISTIAN BARNETT FROM
FLORIDA FIRST CREDIT UNION.
THANK YOU SO MUCH FOR YOUR
TIME THIS MORNING. THANK YOU,
SIR. AND GOOD LUCK TO
EVERYBODY AT HOME. WE
CERTAINLY HOPE THAT YOU FIND A
WAY. MAKE A LITTLE MORE MONEY