Thread by @AliAbdaal

I earn ~$27k per week through passive income 💸

So that means I don’t have to do anything, right? Not exactly.

Here’s how I got started 👇

WARNING: ‘Get rich quick’ schemes don’t exist.

It’s taken me 8+ years to make this much 🪙

Just food for thought.

1 - Investing in stocks + shares 📈

This is one of the easiest ways to generate passive income, but it does rely on:

💵 The amount of savings you have

🧠 Smart investing

Let’s say you invest $1000 into the S&P 500 → your money will be invested across the top 500 companies in the US.

It’s as easy as signing up to a stockbroker 🤷

I’ve been investing for the last few years - it’s taken almost none of my time to maintain.

2 - Starting a YouTube channel

So this one’s easy to get started 👉 grab your iPhone, click ‘record’ and upload.

And to make money on YouTube, it takes... 🥁🥁🥁

Consistency. But... 👇

...it takes time. You need at least 1k subscribers and 4k hrs of watch-time to earn money on YouTube ⏱️

For me that was ~6 months of regular posting. For lots of people, it’ll take 1-2 yrs minimum.

Yup, this one takes time to maintain and do well 🤷

3 - Starting a podcast 🎙️

Easy to start, but hard to grow (unless you’ve got a YouTube channel with a built-in audience 🙋)

If you go down this route, your money will come mainly through sponsorships.

If you’re 500 per episode (2,000ish a month) and up you’ll have an easier time getting sponsored - but this totally depends on your niche and how much competition you have.

You can also make money through ad space, affiliate links, or a community Patreon.

4 - Affiliate marketer roles 💬

Basically, this involves selling other people’s products for a percentage of the profits.

It’s doable, and definitely easier if you’ve got a pre-existing audience.

5 - Selling a digital product 🤝

Maybe you’re writing an e-book or creating an app 👉 the trick here is to make sure you’re constantly providing value.

Once your product is created, it’s pretty hands-off.

For example: @Traf made $100k in six days selling icons for iOS 14 🤯

@traf 6 - Selling a course 🎓

This is where content creation skills and providing valuable content are IMPORTANT.

The bulk of my passive income comes from courses (like my ones on @skillshare)

You roughly need ~28 students a month to make this one worthwhile.

@traf @skillshare 7 - Building a membership community 👩‍👩‍👦

You’re on YouTube? Great. Advertising things like a Patreon account or paid memberships can be a great way to earn extra income.

It’s easy to start, but you’ve got to consistently provide extra value for your viewers 👀

@traf @skillshare 8 - Automating a business 🤖

You’re probably noticing a common theme here - this one is also very much VALUE based.

@traf @skillshare Let’s say you’ve started an online business selling handbags 👉 the aim is to eventually outsource a lot of the tasks so the business can run itself with minimal input from you.

@traf @skillshare 9 - Building an app/site/software 🖥️

This probably has the highest barrier for accessibility - because you need a strong idea first - but it can definitely be lucrative.

There's upfront work involved: you need to solve a common problem and build something that works.

@traf @skillshare If you’re interested in running a YouTube channel as a way to passively earn more 💰

Check out my Part-Time YouTube Academy course: go.aliabdaal.com/ptya-twitter😃