In April of 2021, yours truly was featured in yet another article by Business Insider titled “3 Millionaires Say They Earn the Most Passive Income From 3 Sources”. In this post, I will break down what passive income looks like for me in addition to what the other two millionaires have to say about the subject.
The article states that my way of earning $750,000 of passive income in 2020 was through affiliate marketing. I would like to clarify this stat. Currently, I work about 1 hour a day on my affiliate marketing business. I can do this thanks to a feature called programmatic ad budgeting. Essentially, I am an affiliate for over 400 different companies which means I am running over 400 different ads right now. I use various platforms like Instagram, Facebook, Google, and YouTube. If the user clicks on one of my ads and does not buy, the programmatic ad budgeting system retargets the user with another ad. This allows me to spend less time in my ads dashboard and more time living life.
The other tool that allows me to make passive income is outsourcing. Outsourcing is simply assigning part of your work to somebody else. When you work with so many brands, people are always needing documents and information regarding payments, applications, etc. I retired and hired my dad to manage all of the relationships between the affiliate companies and I. He keeps track of accounts receivable and responds to all affiliate-related emails. I also have a team of virtual assistants from the Philippines and a blogger based in Iowa. All of these people help me manage ads, create content, and promote affiliate offers.
I just recently started following Sharon because of this article. She makes her passive income from rental real estate. Sharon started with just 1 unit and today has 13. Business Insider notes her net worth is 1.1 million. Not bad for 30 years old!
Jeremy earns his passive income through Target Date Funds. He started by building an online advertising website for rental…