All right, welcome to another deep dive.
Today, we're diving into the world of passive income.
Okay.
And we're gonna be looking at
a YouTube video by Sarah Finance.
And she claims to make like $30,000 a month passively.
Wow.
So we're gonna look and see if that's actually true.
Yeah.
What she's doing.
Yeah.
And you know, whether or not that's actually realistic.
Yeah, and what we can learn from her too.
Exactly.
Even if we're not all shooting
for that $30,000 a month figure.
Yeah.
And it's interesting because she talks about,
you know, starting young.
And really being driven by wanting to have freedom
and flexibility.
Right.
Not just by, you know, wanting to make a ton of money.
Yeah, that's right.
She really emphasizes that freedom and flexibility.
Yes.
Which I think resonates with a lot of people.
Absolutely.
And I think that's something that a lot of our listeners
are also looking for.
Yeah.
So let's jump right in.
Okay.
Her first strategy is dividend investing.
Which is basically getting paid just for owning shares
of certain companies.
Yeah.
It's like being rewarded for being a part owner.
Yeah.
Sarah mentions earning about $800 per month this way.
Yeah.
And she even name drops a couple of companies
that you'll probably recognize.
TD Bank, Coca-Cola, Johnson & Johnson.
Oh yeah.
So these are companies that are well known
for consistently paying dividends.
Right.
But here's where it gets interesting.
Okay.
Is dividend investing really passive?
Well, once you've bought the stock,
the income is pretty hands off.
Okay.
But there are some important nuances to consider.
The stock market can be volatile.
Yeah.
Meaning the value of your shares can go up and down.
Right.
There's also the risk that a company could decide to reduce
or even stop paying dividends altogether.
So it's not entirely risk free.
Right.
But even with those caveats,
the idea of earning money while you sleep is pretty appealing.
Oh yeah.
And there's another fascinating aspect
to dividend investing.
The magic of compounding.
Ah, yes.
Compounding.
It's one of the most powerful forces in finance.
Essentially, it means earning returns
not just on your original investment,
but also on the accumulated interest or dividends.
Over time, this can create a snowball effect
significantly growing your wealth.
Okay.
I'm starting to see why Sarah calls this
a foundation for passive income.
It might not be a quick win,
but it has the potential for steady long-term income.
Long-term growth.
Right.
Now let's move on to Sarah's next strategy, YouTube,
which she considers semi-passive.
Yeah, the idea here is that once you create a video,
it has the potential to generate income for years to come,
even if you're not actively promoting it.
And Sarah claims to have earned a whopping $24,000
in just 28 days.
Wow.
From her older videos without uploading anything new.
That's pretty impressive.
But as you mentioned earlier,
the semi-passive label is key here.
Exactly.
And the successful YouTube channel requires
a significant upfront investment of time and effort.
It's not just about hitting record
and watching the money roll in.
So what makes certain YouTube content?
Stand out from the crowd
and continue to generate income over time.
Well, what works well is what we call evergreen content.
Topics that remain relevant and valuable to viewers
for years, even decades.
Think tutorials, educational videos, how-to guides,
product reviews that focus on features
that don't change quickly,
or even in-depth explorations of historical events.
So it's not just about chasing trends.
It's about creating something with lasting value.
Exactly.
That makes a lot of sense.
And are there any particular examples of this
that come to mind?
Absolutely.
You see this a lot with channels teaching things
like coding, financial literacy,
or even playing musical instruments.
The fundamentals of these skills don't change drastically.
So those videos continue to attract viewers
who are just starting out.
Okay, that's really interesting.
It's not just about views.
It's about providing real lasting value to people.
But creating that kind of high quality content takes work.
What kind of time commitment are we talking about here?
It varies, of course.
But Sarah is very open about the fact
that she spends hours researching, scripting, filming,
and editing her videos.
And then there's the ongoing work
of engaging with her audience,
responding to comments and promoting her channel.
It's definitely not a get rich quick scheme.
Right, and that's something that potential YouTubers
need to be prepared for.
Yeah.
But it also highlights the potential.
If you're passionate about a topic
and willing to put in the effort,
there's a real opportunity to build something
that generates income for years to come.
Absolutely.
Now let's talk about what Sarah calls the crown jewel
of her passive income strategies, automated drop shipping.
This one has become increasingly popular in recent years.
Essentially, it's a way to sell products online
without having to handle inventory or shipping yourself.
And Sarah claims to have made a staggering $50,000
in sales last month.
Wow.
With a profit of $18,000.
That's a pretty compelling case for drop shipping,
but how exactly does it work?
You partner with a supplier who stores and ships
the products directly to your customers.
Okay.
You focus on marketing and customer service.
Using a platform like Shopify to create your online store.
So you're essentially connecting buyers and sellers,
taking a cut of the profit
without ever physically touching the product.
That sounds pretty efficient.
But what are some of the challenges involved
in making drop shipping truly passive?
Well, first and foremost,
you need to find reliable suppliers
who offer high quality products and timely shipping.
There are platforms where you can find suppliers,
but vetting them thoroughly is crucial.
Right.
You don't want to be left dealing with customer complaints
because a supplier sent out faulty merchandise
or delayed an order.
Exactly.
Managing customer expectations
is another key aspect of drop shipping.
Even though you're not handling the physical products,
you're still responsible
for ensuring a positive customer experience.
So things like clear communication,
prompt responses to inquiries,
and a smooth returns process are all crucial.
Absolutely.
And then there's the challenge
of standing out in a crowded marketplace.
Drop shipping has become increasingly popular,
so you need to find ways to differentiate yourself
from the competition.
That makes sense.
If everyone is selling the same products
from the same suppliers,
it becomes a race to the bottom on price,
which can hurt everyone involved.
Precisely so, finding a niche, building a strong brand,
and offering excellent customer service
are essential for drop shipping success.
Okay, so it's clear that there's a lot more
to drop shipping than simply setting up a website
and watching the orders roll in.
But the potential for scalability is definitely intriguing.
Absolutely.
And Sarah has taken it a step further
by automating much of her drop shipping business.
She's hired virtual assistants to handle tasks
like order processing, customer service,
and even marketing,
freeing up her time to focus on other ventures.
So it's evolved from semi-passive
to truly passive for her.
That's really impressive.
It highlights the power of leveraging technology
and systems to build a business
that can run without your constant involvement.
Exactly, and that's a theme we'll see repeated
in some of Sarah's other strategies as well.
Well, this is just the beginning of our deep dive
into Sarah finances world of passive income.
We've explored dividends, YouTube,
and drop shipping so far, and we're just getting started.
Welcome back to the deep dive.
Yeah, so before we move on to Sarah's other income streams,
maybe let's just take a moment to reflect
on what we've learned so far.
Yeah, it's been quite a journey already.
We've gone from the steady world of dividend investing
to the dynamic landscape of YouTube
and the entrepreneurial hustle of drop shipping.
It's clear that passive income
isn't a one size fits all concept.
There's so many different approaches
and what works for one person might not work for another.
Exactly, and that's why it's so important
to approach this with an open mind
and a willingness to experiment.
There's no magic formula,
but there are certainly key principles that can guide us.
Yeah, speaking of key principles,
I'm curious to hear your thoughts on some of the common threads
we've seen across these different strategies.
What are some of the big takeaways so far?
Well, one thing that stands out to me
is the importance of diversification.
Sarah doesn't rely on just one source of passive income.
She's built multiple streams,
each with its own risks and rewards.
This creates a more resilient financial foundation.
That makes a lot of sense.
It's like the old adage,
don't put all your eggs in one basket.
If one stream dries up, you've got others to fall back on.
So diversification is key takeaway number one.
What else is jumping out at you?
Another crucial lesson
is the value of leveraging technology and automation.
We saw this with Sarah's YouTube channel,
where her older videos continue to generate income,
even though she's not actively promoting them,
and it's even more evident in her dropshipping business,
which she's largely automated.
Right, she's using tools and systems
to streamline processes and handle tasks
that would otherwise require her constant attention.
Yes, it's about working smarter, not harder.
So diversification and automation.
These are powerful tools for anyone
looking to build passive income streams.
But I think there's another essential ingredient
that often gets overlooked mindset.
Absolutely.
Sarah's journey highlights the importance
of belief persistence and a willingness to experiment.
Building successful passive income streams
takes time effort and a certain level of resilience.
It's not about getting rich quickly.
It's about setting goals, taking action
and staying committed, even when faced with challenges.
It sounds like it's as much about personal growth
as it is about financial gain.
Precisely, it's about adopting a growth mindset,
embracing lifelong learning
and constantly seeking ways to improve and adapt.
It's about taking ownership of your financial future
and creating a life that aligns
with your values and aspirations.
I love that perspective.
It's about more than just the money.
It's about personal fulfillment
and creating a life that you truly love.
Exactly, and that's what makes this conversation
so exciting.
Passive income isn't just about making money.
It's about unlocking possibilities
and creating a future
where you have more control over your time, energy
and resources.
Okay, so we've got diversification, automation
and mindset.
These are powerful principles that can guide us
on our passive income journeys.
Now let's dive back into Sarah's strategies.
She's got two more income streams to share
and they offer some fascinating insights
into leveraging your existing assets and online presence.
I'm all ears.
What's next on our deep dive?
Well, let's talk about affiliate marketing.
It's a strategy that's becoming increasingly popular,
especially in the world of online content creation.
I've heard of affiliate marketing,
but I'm not entirely sure how it works.
Can you break it down for us?
Essentially, it's about getting paid
to promote other people's products or services.
You partner with a company,
share their products with your audience
and earn a commission on any sales
that result from your referral.
So you're kind of like a brand ambassador or influencer.
But instead of getting paid directly by the company,
you earn money based on your results.
Exactly, it's a performance based model,
which can be very appealing to both parties involved.
And how much is Sarah earning from affiliate marketing?
She claims to be making around $10,000 per month
from this strategy alone.
And what's interesting is that she's not limiting herself
to one particular niche or industry.
She's partnered with a diverse range of companies.
From financial services to travel brands.
That's a smart approach.
It diversifies her income within this particular stream.
Exactly, and it also allows her to tap into
different segments of her audience,
promoting products and services
that are genuinely relevant to their interests.
So she's not just pushing products
for the sake of making a commission.
She's carefully selecting partnerships
that align with her values and her audience's needs.
That's a really important point.
Absolutely.
Authenticity is key in affiliate marketing.
People can spot a phony a mile away.
If you're not genuinely enthusiastic
about the products you're promoting,
it will show and you'll lose credibility with your audience.
So it's not just about finding any product to promote.
It's about finding products that you genuinely believe in.
And that you think would be valuable to your audience.
It's about building trust and relationships.
Precisely, and that's where the real power
of affiliate marketing lies.
It's not just a way to make money.
It's a way to connect with your audience
on a deeper level.
And provide them with valuable recommendations.
That's a great perspective.
It's about adding value, not just making a sale.
Now, I'm curious to know how Sarah
is actually incorporating affiliate marketing
into her content.
Okay.
Is she just blatantly plugging products in every video?
Not at all. She's very strategic about it.
Sometimes she'll create dedicated videos
reviewing products or services she's partnered with.
Other times she'll subtly weave affiliate links
into her existing content,
providing relevant resources or recommendations
that naturally fit the topic at hand.
She even mentioned giving away free stock
through an affiliate link.
Yeah.
That's a pretty cool way to entice people to click
and potentially earn her a commission.
Exactly. And it's a great example
of how she's finding creative ways
to incorporate affiliate marketing into her content
without being overly pushy or salesy.
It sounds like there's a lot of potential
in affiliate marketing.
But I imagine it takes some effort to get started.
Definitely you need to build an audience,
establish trust and find the right partners.
But the beauty of it is that it can be scaled and automated
once you've set up your systems.
You can continue to earn commissions passively
even while you sleep.
Okay. So we've got diversification automation mindset
and now affiliate marketing.
These are all valuable pieces of the passive income puzzle.
But before we wrap up this deep dive,
Sarah has one more strategy to share.
And it's one that highlights the power
of leveraging your existing assets.
I'm intrigued.
Tell me more.
This final strategy is all about renting out your car.
Oh wow.
On a platform like Turro.
I've heard of Turro.
But I never thought of it as a passive income stream.
How exactly does it work?
It's pretty straightforward.
Okay.
You list your car on the platform,
set your availability and pricing,
and then Turro connects you with people
who are looking to rent a car in your area.
They handle the booking process insurance
and payment processing,
making it a very hassle-free experience for car owners.
So it's like Airbnb for cars, that's brilliant.
And how much does Sarah estimate she can earn from this?
She's projecting around $200 to $300 per month.
Not a bad side hustle at all.
Especially if you're not using your car every day.
Exactly.
It's a great way to turn an underutilized asset
into a source of passive income.
And it's truly passive in the sense
that you don't need to do anything
once you've listed your car on the platform.
But I imagine there's some risks involved as well.
Of course, there's always the potential
for accidents or damage to your vehicle.
Right.
But Turro offers insurance coverage
to protect car owners.
And they have a thorough vetting process for renters.
So it's not entirely risk-free?
Yeah.
But it seems like they've taken steps
to mitigate those risks.
Exactly.
And for many people,
the potential rewards outweigh the risks.
Well, this has been an incredibly insightful exploration
of Sarah Finance's five passive income strategies.
We've covered a lot of ground in this deep dive
into Sarah Finance's world of passive income.
From dividend investing to YouTube dropshipping,
affiliate marketing, and even renting out her car.
Right.
It's clear that there were so many paths you can take.
And what's so inspiring about Sarah's story
is that she doesn't come from a wealthy background
or have any special connections.
She's built this all through hard work research
and a willingness to learn and adapt.
It's a great reminder that passive income
isn't just for the elite or the tech savvy.
It's accessible to anyone who's willing to put in the effort
and develop the right mindset.
Absolutely.
And that's what I hope our listeners
take away from this deep dive.
It's not about copying Sarah's exact strategies,
but rather understanding the underlying principles
and applying them to your own unique circumstances.
It's about finding what resonates with you,
what aligns with your skills and passions.
And speaking of that, I'm curious,
out of all the strategies we've discussed today,
which one stood out to you the most?
That's a great question.
I think for me, it's the combination of YouTube
and affiliate marketing that really sparked my interest.
The idea of creating valuable content
that can generate income for years to come,
while also recommending products and services
that I genuinely believe in is very appealing.
I can see why that would be a compelling combination.
It leverages both your creativity
and your ability to connect with an audience.
What about you?
Which strategy resonated most with you?
You know, I was really intrigued by the dropshipping model.
Okay.
It's fascinating how you can essentially create a business
without having to handle inventory or shipping.
And the potential for scalability is really exciting.
Yes, dropshipping definitely has its advantages.
And with the right approach,
it could be a very lucrative passive income stream.
But I think it's important to remember
that it's not a get rich quick scheme.
There's a lot of work involved in setting up
and running a successful dropshipping business.
That's true for any passive income strategy.
There's always an upfront investment of time effort
and often money.
But I think that's what makes it so rewarding.
You're building something that has the potential
to generate income for years to come,
even while you sleep.
Exactly.
And it's not just about the financial rewards.
It's about the freedom and flexibility
that comes with having multiple income streams.
It's about creating a life
where you're not tied to a nine to five job
and where you have more control over your time
and your future.
So for our listeners who are feeling inspired
and ready to take action,
what's the first step?
Where should they begin?
I'd say the most important thing is
to start with self reflection.
Okay.
Take some time to think about your skills,
your passions, your resources and your goals.
What are you good at?
What do you enjoy doing?
What problems can you solve for others?
That's great advice.
It's about starting from a place of authenticity
and building something that aligns with your values
and your vision for the future.
Exactly.
And once you have a clearer sense
of your strengths and interests,
start exploring the different passive
into models out there.
Okay.
Read books, listen to podcasts and webinars,
connect with other entrepreneurs
and don't be afraid to experiment.
So it's about taking action learning as you go
and being willing to adapt
and adjust your approach along the way.
Precisely.
Remember, building sustainable passive income streams
takes time and effort.
There will be challenges, there will be setbacks,
but the rewards are well worth the journey.
This has been an incredibly insightful deep dive
into the world of passive income.
I hope our listeners are feeling informed, inspired
and ready to start creating their own paths
to financial freedom and a more fulfilling life.
And remember, we're always here
to support you on your journey.
Keep learning, keep exploring
and never stop believing in the power of possibility.