My 19 sources of income at age 34

Key Concepts

Multiple income streams, active income, passive income, semi-passive income, entrepreneurship, digital products, brand deals, UGC (User Generated Content), affiliate marketing, Airbnb, Google AdSense, credit card points/miles, high yield savings accounts, T-bills/bonds, cryptocurrency (Bitcoin), stock market investments (dividends, growth stocks), diversification, financial advisor.

Language Trip (Startup)

• Main Topic: The speaker's startup, Language Trip, received investment from 500 Startups.
• Key Points:
  • Currently not taking distributions from the company.
  • Focus is on growing revenue and reducing costs to improve the P&L for a potential acquisition in 1-2 years.
  • Running a business is described as hard, unpredictable, and unstable, but also the "best thing in the world" due to the learning opportunities.
• Specific Details: Making $0 right now.

Digital Products

• Main Topic: Selling digital products, including PDFs, workbooks, pre-recorded courses, and one-on-one consultations.
• Key Points:
  • Started creating content 10 years ago (December 2014), focusing on standardized tests.
  • Has amassed over 17 million followers.
  • Digital products are sold passively through ads and email marketing.
• Specific Details:
  • Generates over $10,000 per month.
  • One-on-one consultations bring in approximately $4,000 per month.
  • 21% of revenue comes directly from email marketing.
• Examples:
  • PDFs and workbooks on topics like starting a YouTube channel, going viral on Reels, and building a team.
  • Courses on UGC and building a personal brand.

Omnisend Sponsorship

• Main Topic: Promotion of Omnisend, an email marketing platform.
• Key Points:
  • Omnisend is presented as an affordable, user-friendly, and powerful communication tool for e-commerce businesses.
  • Offers email marketing, SMS, popup forms, web push notifications, and segmentation in one space.
• Specific Details:
  • Affordable pricing with a free plan and scalable pricing as the business grows.
  • 24/7 customer support, even on the free plan, with an average response time of less than 3 minutes.
  • Intuitive platform with no steep learning curve.
• Example: Creating an email for a new UGC course using Omnisend.
• Quote: "No emails, no sales."
• Offer: Use code SVGO30 to get 30% off your first three months.

Brand Deals

• Main Topic: Earning income through brand deals and collaborations.
• Key Points:
  • Generates over $30,000 per month from brand deals.
  • Potential for growth is seen as high due to the amount of content being created.
  • The number of followers needed to secure brand deals depends on the niche.
• Specific Details:
  • Started getting brand deals with 30,000 followers on a business-specific channel.
  • Lifestyle creators typically need more subscribers.

UGC (User Generated Content)

• Main Topic: Creating content for companies in exchange for payment.
• Key Points:
  • Companies send products, and the creator makes a video showcasing the product.
  • Requires high-quality video production with good lighting, script, and professional setup.
  • Plans to grow this income stream in the coming year.
• Specific Details:
  • Earned $10,000 to $20,000 per deal, with four deals this year (approximately $4,000 per month).
  • Payment varies depending on the industry, with tech and AI companies paying more than fashion and makeup brands.
  • Platforms like Collabstr pay from $300 to $700 per video.

Public Speaking

• Main Topic: Earning income through speaking engagements at companies and conferences.
• Key Points:
  • Average gig pays $3,000 to $5,000.
  • Limited due to travel constraints related to having small children.
  • Sometimes done for free if the conference is large and covers travel expenses.

Instagram Reels Bonuses

• Main Topic: Receiving bonuses from Instagram for posting Reels.
• Key Points:
  • Inconsistent income stream, dependent on the virality of the Reels.
• Specific Details:
  • Averages around $300 per month.

Selling Items on eBay

• Main Topic: Selling old clothes, furniture, and other items on eBay and at consignment stores.
• Key Points:
  • A way to declutter and earn some cash.
• Specific Details:
  • Consignment stores like Crossroads and Filmore & 5th pay $20 to $100 per item (typically $50-$60).

Affiliate Marketing

• Main Topic: Earning commissions by promoting products and services through affiliate links.
• Key Points:
  • Links are placed in video descriptions and other content.
  • Commissions range from $0.05 to $40 per signup.
• Specific Details:
  • Generates $300 to $500 per month.
• Examples:
  • Coinbase affiliate link.
  • Links to AI apps.

Airbnb

• Main Topic: Owning and managing an Airbnb property.
• Key Points:
  • Made over $50,000 in less than six months, but all revenue went to expenses (mortgage, cleaning, etc.).
  • Currently losing money but expected to be cash flow positive in two years.
  • Still requires active involvement in furnishing, filming, and managing finances.

Google AdSense

• Main Topic: Earning revenue from YouTube ads.
• Key Points:
  • This channel generates $5,000 to $6,000 per month.
  • Total income from three channels is $13,000 to $15,000 per month.
  • Revenue is used to pay the team (editors, producers, payment managers).

Credit Card Points/Miles

• Main Topic: Using credit card points to pay for flights.
• Key Points:
  • Used points to book four transatlantic business class flights for the family.
• Specific Details:
  • Equivalent to $16,000 if paid in cash (approximately $1,200 per month).
  • Recommends researching the best credit cards, such as American Express and Chase cards.

High Yield Savings Accounts

• Main Topic: Utilizing high yield savings accounts for cash storage.
• Key Points:
  • Recommends digital banks like Sofi, Ally Bank, and Marcus by Goldman Sachs.
• Specific Details:
  • Pays around 4%, which is better than traditional banks.
  • CDs can be used for corporate accounts.
  • Generated approximately $11,000 this year.

T-Bills/Bonds

• Main Topic: Investing in T-bills and bonds.
• Key Points:
  • Pay around 7%.
• Specific Details:
  • Investment limit of $10,000 per person.

Cryptocurrency (Bitcoin)

• Main Topic: Investing in Bitcoin.
• Key Points:
  • Started buying Bitcoin in 2016 and stopped when it hit $67,000.
  • Plans to start buying again next year through automated monthly investments.
  • Considers Bitcoin a risky investment due to emotional trading tendencies.
• Specific Details:
  • Crypto returns brought in over $5,000 monthly this year.
  • Uses Coinbase for buying and transfers to a Ledger for security.

Stock Market Investments

• Main Topic: Investing in the stock market through two portfolios.
• Key Points:
  • One portfolio is managed by a financial advisor and generates dividends.
  • The other portfolio is self-managed and invests in growth stocks.
• Specific Details:
  • The managed portfolio brought in over $3,000 monthly in dividends.
  • The self-managed portfolio made $3,600 every month.
• Examples:
  • Investments in Google, Formula 1 stocks, and Nvidia.

Conclusion/Synthesis

The speaker details 19 income streams, categorized as active, semi-passive, and passive. Active income streams involve direct effort and time, while passive income streams require minimal ongoing work. The speaker emphasizes the importance of diversification and building multiple income streams for financial security. They also highlight the significance of investing, both in traditional assets like stocks and bonds, and in emerging assets like cryptocurrency. The speaker's journey from an immigrant with limited resources to a successful entrepreneur making over $100,000 a month serves as an inspiration for viewers to explore different income-generating opportunities and take control of their financial future. The speaker's goal is to reach $40 million in savings.