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How’s it going everybody this is beat the bush today i’m going to talk about multiple sources of income and how i personally have more than 12 different sources so i’m gonna cover those today but first someone decided to send me this milk tea mug it says wake up drink milk tea share wisdom rinse and repeat now whoever sent this thank you very much there was no name on
The package or anything but i do have milk tea in here my almond milk tea recipe if you guys are interested i’ll leave that video over here now you guys know that my bare-bones minimum is about thirty-six dollars a day this is living in california in the bay area so today in particular is definitely a bare-bones day because number one i did not go vacation anywhere
Number two i did not even drive anywhere i did not buy anything and in fact i rode a bicycle to the post office in order to deliver a package which i am gonna get paid on now thirty-six dollars isn’t all that much in california standards but i probably made all this money before i even woke up now you might go well ok you made enough money why are you making more
Is because i personally am not fully retired yet right now in some of my previous videos you might go ok he’s retired sort of retired kind of not really but for me i personally feel like i am in this semi retirement state the reason why i say i’m semi-retired is because i am not fully retired i still have to work a little bit in order to bring him enough money to
Sustain my burn rate now when are you truly in retirement mode is when you can do anything that you want including things that do not make money so there’s a question of whatever i’m doing right now including this youtube video will i actually be doing this if i have the chance to actually retire if i have enough money to not do youtube at all the question is will
I actually be doing youtube let’s say i won the lottery or something and have way more money than i need will i still be uploading these videos that’s the question to ask and i think you know no matter how honest i am with myself i do not think i can truly answer this i like to think that even if i won the lottery i might still be uploading the videos but i also
Feel like there might be a chance that i might not so i really have to i guess wait until it actually happens and then we would all really find out that if this little experiment where i’m thinking that i’m you know i’m saying that i’m kind of retired if it actually is true because if i actually have all that much money to retire and i’m still doing videos anyway
Then i can just in retrospect kind of look back and go oh yeah i really you know was living the life of retirement without actually being retired oh so it’s kind of like cheating the system a little bit so i know i was gonna talk about multiple sources of income so here we go i’m gonna cover a lot of different sources of income over here ah the first one is home
Appreciation i live in this place i fully own it and as the market chugs along the valuation of the home keeps on increasing although i believe the next year or two it might stay flat or it might even drop a little bit heck it might even drop 20 30 percent or something but you know it’s my place to live in i’m gonna stay here and you know just keep on chugging along
Without paying mortgage payments and stuff so but i still consider the appreciation sort of you know kind of like income because if i were to move i can sell it i can you know rake in all that appreciation at some point in the future or i might be able to move somewhere and then rent this place out which is the option that is more likely the second one is i have
Certain amount of cash in high yield savings account right now most of it is in goldman sachs the 2.25 apy and this is relatively good compared to a lot of other savings accounts you might be able to find better ones out there but usually those ones usually make you jump through hoops they might have like a debit card or something you might have to use that card
30 different times and then you might have to have direct deposit or something so goldman sachs to me is like a really good no strings attached type of thing you just put your money there there’s no and then you know you get your interest of 2.25 so that is a source of one of my multiple streams of income another big one is if you watch some of my previous videos
On california municipal bonds there’s a very special thing about this is because the dividends that you get from this is actually tax-free this is a huge deal i think even at the current pricing you might get about 5% returns on whatever money that you make however there is a principle price risk here because you know when i bought it it kind of went down and then
I kind of went up a little bit so it kind of goes up and down like 10% so you might go wow you know it might fall in price some more but it is what it is and i have a certain amount of that and every single month i get a dividend that is tax-free which does not get added on to the top of my income which is very important because if you’re at the top you know whatever
Marginal rate you are it gets sort of like cut off from the top because if you were to earn dividends from a stock and it gets added on to the top of your income that means that income gets taxed at your marginal rate rather than you know your average rate the fourth source of income is from stock accounts in retirement and non retirement accounts now you might
Go this is not really dividends or anything so this is more in the form of stock appreciation think of the appreciation in your stock account kind of like a long-term thing you can’t go okay did it go up this month you know so you have to look at it in terms of averages over a long period of time in terms of how much you actually can take out of that account on
Top of this i just talked about running to the post office to drop off some items i actually did this on my bike so these seller accounts it’s very important for everyone to be acquainted with this so that we can essentially take all the material goods that you have and liquidate them yourself when you do it yourself you get a lot more money back then if you know
You’re doing trade-ins or something so you do your own thing take your own pictures get good at taking you know photo studio quality pictures and stuff these include ebay you can sell on amazon’s but i think amazon these days are a lot more strict in terms of used goods if you have new goods then it’s great on amazon but if you’re gonna sell use stuff try going
For apps like clothes 5 let go i recently started using facebook marketplace and it worked out pretty well usually with these online selling things people like to globe all you so you really you know need to kind of get a feel for the market and just not let people muscle you in into something lower than the actual value of the thing that you’re selling and on top
Of this there’s also craigslist all of these multiple sources of income is so far not part of my youtube income so now i’m gonna talk more about youtube related income streams that goes to show that having a youtube channel is really great of course not everyone is able to make a successful one but everyone should be able to start one and work on it and then make
It grow bigger and bigger you just need more and more time depending on how successful you are into goreng something where it actually gives you enough back that is significant enough to mean something i would say most youtube channels have amazon affiliates where if there’s a certain product that is sold on amazon they link it in the video description down in the
Video description below and then when you click it it recognizes that it’s from that channel and then it credits whoever made that link with a certain percentage for amazon affiliate links it ranges i don’t know like three to ten percent even so you can look for something like average yeah three five percent or something depending on what you buy exactly amazon
Also owns audible so sometimes when you see me talk about oh yeah you know and audible is gonna give you a free book and stuff and it’s just a free trial you don’t even have to pay anything for it even if you use that link and get a free book you are helping out the channel which then becomes another income stream for myself you try this out you listen to it you
Actually use it you can even keep it and even if you cancel it i get credit for you know you clicking through that link viii income source is sometimes i would work with different brands and sometimes if i were to push their products and if you were to go click through and purchase it through their website through amazon through whichever thing you know it’s like
Sometimes selling a good or service and if you click through and use it then what happens is they note that there’s some tag in the link and then they go ok the referral came from beat the bush youtube channel and then they go they tally it and then later on you know at the end of the month they go ok you have 10 referrals okay every single referral you get $5
Or something and then they add it up and then they go ok here’s a payout and then you know they pay you so sometimes you go well this is great and all because you have a really big channel the bigger a channel the more referrals that you’re gonna get if you have a channel that is 1 million subscribers 10 million subscribers then you know just referring one single
Thing i assume that those really big channels might get like ten thousand dollars just from one referral some of these bigger channels you know they can refer a car okay and they might even get a full car just from doing just one single video so this is how ridiculous it is the bigger that you are the more those referrals are worked you might go well beat the
Bush i am not a big youtube channel so therefore you know this might not apply to me this is where it’s important that if you’re starting out your youtube channel you can’t just go this is not what i am today but it could be something that you are tomorrow maybe two three years down the line so if you start off something small you can grow it to something much
Bigger later on so you can’t discount that you know you know for myself i can’t go oh yeah i wish i have you know a car every single time i do a video no it’s something smaller than that but then you know i has a potential to get something bigger another source of income for me is also video licensing sometimes if you make viral videos okay you know i have some
Of them and companies would come to me and go hey can we license this video so that we can use it on certain tv channel so i think one of my gift-wrap videos or something sometimes people would come and they go oh can we use it on this news channel whatever website or something and then you arrange how much licensing fee you want to charge you need to look at what
The industry standard is or something like that and it depends on how much they want it so it’s up to negotiation this is kind of like a residual income because i already made the video all i have to do is negotiate how much to charge for so it’s kind of like a book deal when you write a book you know you already did it and then years down the line you’re still
Collecting you know bits of royalty from it another one is i wore this t-shirt just to show you guys this is my channel t-shirt it has a honey badger on it it says infinite vacation ever since i introduced this t-shirt maybe about a year ago i forget how long it’s been people have been buying this t-shirt on and off i don’t push it too hard but i’m gonna push it
Today some people when they watch my channel and they see in the video description that there’s a link to buy a t-shirt think oh this is ridiculous this is like going against what you say because your video says oh be frugal and stuff don’t buy this don’t buy that but hey look buy my t-shirt the deal here is anytime someone points this out in the comments i have
To respond to this like i think it musta came up like 200 times because i read most of the comments and every single time someone points us out yes i can spend the time to explain it it’ll take me a whole paragraph long to explain it but retyping this 200 times is a little bit too much so i’m gonna respond to this here i don’t want everyone to buy this t-shirt
I do not want people that do not have the money to to buy this t-shirt i do not want people that have too much clothes too many t-shirts to buy this t-shirt even what i feel like it’s a good opportunity to buy this t-shirt would be in a situation where if you watch a lot of my videos and somehow you get a lot of value from it maybe you change the way that you
Perceive consumerism maybe you save thousands of dollars or something then i would actually recommend buying this t-shirt if you actually like this design okay anyhow the last source of income i want to cover is patreon my patreon is actually not doing very well i don’t push it all that much because you know i don’t see a need for it there are still some patreon
Who support my channel through whatever reason that they have to do it and i greatly appreciate it i have to say that whoever supported me on patreon all of this is noted within the patreon thing your names are there there’s emails and stuff even if you cancelled the subscription i still have a record of how long you’ve contributed a patreon and when you did it
I’ll just have to say right now that this is noted i’m gonna remember this forever basically so that’s all i have to say and i highly appreciate those people that choose to support me this is out of their own good will this means so much more to me because i’m not shoving it down people’s throat every single video here they eat sort of like found my patreon somehow
Because you know it’s like kind of towards the bottom on the video description and then they go i want to support this creator and then they went and did it so this means all that much more to me lastly these are things that i do not currently do i might do in the future but you know i’m kind of lazy to write a book therefore i might not have a book in the future
A lot of people have asked me to write a book on frugality okay how to save money maybe there’s like a whole book many many different chapters on how to do so i don’t know i feel like i can give away the same thing on youtube youtube is free you can watch a video do i don’t really need to put it all in a book format so that you can buy it i don’t know let me
Know in the comments down below if this is something that you’re interested in do you really want to pay money to so so that it’s sort of like combined together more concisely or something so that you know i need to write a book and then you actually have to pay for it or do you prefer for free because you know most of the content i have ever created any kind of
Meaningful stuff i’ve already put on youtube it might be spread across like nine hundred videos but it is there then you also have rentals i know there’s like real estate people out there that like to have a lot of little rentals and then they have to you know rent it out and then in turn they get like a certain cut of it there’s also all this recurring income
Let me just say that this is not something for me i just look at landlords and i just look at oh my gosh they have to get called they have to fix their broken water heater and you they have all these issues yes you might be able to give it to a management company and i did a few number calculations for renting out this place and i feel like wow you know if i rent
This out and then i go rent some other one single bedroom place and then i take out the management fees and stuff i’m gonna end up not earning all that much money so why not just pay a little bit more and then stay in this big place all to myself which is you know preferable and it’s comfortable for me and then for are you engineers out there there’s also patent
Licensing if you’re enterprising enough or creative enough then yeah you can go and create something you can go patent it and then you can go licensee it up thank you for watching this video don’t forget to check out my i don’t know if i have amazon affiliate links down below i didn’t share a product today but there is this t-shirt through bonfire i’ll leave it
Down in the video description below don’t forget to give me a like push that subscribe button and ring that bell icon thanks for watching if you listened quietly you might be able to hear the rain you hear that anyway it’s raining right now
Transcribed from video
My 12 Sources of Income By BeatTheBush