9 Passive Income Ideas: How I Make $8,000/Mo WITHOUT Working in 2023

Passive Income Ideas for 2023, is the topic of today’s video because I am going to share exactly how I actually make an extra ~ $8,000 per month.
Book a Tax Services Discovery Call: schedule.lyfetaxes.com/discov...
Use this link to sign up for a Wealthfront Cash Account and we’ll both get +0.50% on the current APY! www.wealthfront.com/c/affilia...
So, today what I am going to do is cover:
- Why I love passive income (and the tax benefits)
- My 6-7 Passive Income Streams
- The Secret to Making Passive Income (that no one talks about)
Timestamps:
Intro (0:00)
What is Passive Income? (1:59)
Tax Treatment of Passive Income (4:24)
Passive Income Idea #1 (6:14)
Passive Income Idea #2 (7:23)
Passive Income Idea #3 (9:15)
Passive Income Idea #4 (11:36)
Passive Income Idea #5 (13:25)
Passive Income Idea #5.5 (15:50)
Passive Income Idea #6 (17:12)
Passive Income Idea #6.5 (19:20)
Passive Income Idea #7 (21:04)
Passive Income Idea #7.5 (23:10)
Major Key! (24:15)
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9 Business ideas that Never Fail (95% SUCCESS RATES): • 9 Business Ideas that ...
How I Became a Millionaire: • How to Become a Millio...
5 Small Business Bank Accounts: • 5 Small Business Bank ...
Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

Пікірлер: 130

  • @LYFEAccounting
    @LYFEAccounting Жыл бұрын

    Thanks for watching! If you want more business content from me, check out my personal channel starting with this video on "Passive Income Business Ideas" kzread.info/dash/bejne/pGapmbiElcnMj9Y.html

  • @trinawalker4007

    @trinawalker4007

    Жыл бұрын

    I'm on that channel too.

  • @brooklyn560
    @brooklyn560 Жыл бұрын

    Was friends with Shawn in High School. I am so happy he and Keran are thriving together out here. Wish y’all the best

  • @amandacnfb
    @amandacnfb Жыл бұрын

    Thanks for being open and honest about things! love the video

  • @princefavio
    @princefavio Жыл бұрын

    I heard you when you said Mailbox Money. Shout out to Nipsey may he continue to Rest In Peace. You puttin us up on much needed game ! Great video bruh.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    💯💯 I picked that up from him! Thanks bro

  • @syebethel
    @syebethel Жыл бұрын

    I appreciate your sharing this! I understand your feelings of vulnerability, but know it's helping entrepreneurial introverts like me 🙈

  • @FrankiSoto
    @FrankiSoto Жыл бұрын

    I have the same motivation technique. I do it with my portfolios. Great content. I greatly appreciate your channel.

  • @shawnjester9439
    @shawnjester9439 Жыл бұрын

    Please make a video on passive income by breaking it down into how it's taxed and written off. Thanks Shawn Jester

  • @angelocarantino4803
    @angelocarantino4803 Жыл бұрын

    I'd love to see that video on how Passive income is taxed. It sounds fascinating c:

  • @boondocks211
    @boondocks211 Жыл бұрын

    Found your channel yesterday. I had to subscribe.. luv the content

  • @valeriejeangrimes6967
    @valeriejeangrimes6967 Жыл бұрын

    Wow, very informative.. thank you. I learned a lot by just listening.. Now I have to go forward..

  • @michelinecaldwell8487
    @michelinecaldwell8487 Жыл бұрын

    Great information glad I'm a sub, I'm already in an etf, would like to expand on REITs one day, I can start a high yield acct, I like the digital products.thx for the info very needed.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Glad you enjoyed it, Micheline! I love Fundrise REITs, super easy.

  • @welcometothehustle404
    @welcometothehustle404 Жыл бұрын

    Great information my brother. Keep it coming 💯💯💯

  • @LoveJoyPeacePower
    @LoveJoyPeacePower Жыл бұрын

    Yes please, detailed video on how passive income is taxed

  • @555sunnyboy
    @555sunnyboy Жыл бұрын

    Outstanding video!

  • @PastorJulian
    @PastorJulian Жыл бұрын

    Great info, especially the last one

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Saved the best for last!

  • @brucebrowder825
    @brucebrowder825 Жыл бұрын

    Thank you so much for this informational video bruh...

  • @JaeAR20
    @JaeAR20 Жыл бұрын

    Yes we need a video on that !

  • @villanuevaruth21
    @villanuevaruth2111 ай бұрын

    Thank you, Blessing to and the hard work.

  • @OG_SOUND_
    @OG_SOUND_ Жыл бұрын

    Great video man!

  • @lseh4720
    @lseh47203 ай бұрын

    I wish I had seen something like this when I was in high school. Now 40 years later, I’m appreciating your contact even though I know the stuff already. I just like watching you keep up the good work.

  • @robfogleman3732
    @robfogleman3732 Жыл бұрын

    Great job as usual

  • @tigerboyz2505
    @tigerboyz2505 Жыл бұрын

    @5:14 the video and audio are out of sync. looks and sounds like the audio continues but the video restarts

  • @JP-wn4jn
    @JP-wn4jn Жыл бұрын

    Yes make a video series on passive income taxes

  • @katepowlus7549
    @katepowlus7549 Жыл бұрын

    thanks for this video! so great

  • @marionwright2773
    @marionwright2773 Жыл бұрын

    This was a great video. I like that you were candid about the barriers to entry and/or certain challenges to particular ideas. So you came across as, not only knowledgeable, but super authentic and trustworthy. Keep creating!

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    I really appreciate the comment, Marion! As I said, I felt very vulnerable making this video, but I felt like it was a good message to put out. Glad you liked it

  • @travay6328
    @travay6328 Жыл бұрын

    Love this 💌

  • @valeriesaltus9417
    @valeriesaltus9417 Жыл бұрын

    Awesome information. Thank you so much😀

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    So nice of you

  • @trinawalker4007
    @trinawalker4007 Жыл бұрын

    Thank you for all of the information you gave us about the passive income. This has truly helped me out I am subscribed to your channel and to your other channel as well

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Yes you are always tuned in, thanks Trina!

  • @theriseoftheunknownnheros4070
    @theriseoftheunknownnheros4070 Жыл бұрын

    great info

  • @chic90skid
    @chic90skid Жыл бұрын

    omg love it thankyou

  • @Jayandnat
    @Jayandnat Жыл бұрын

    yes to how passive income is taxed! we need it!!

  • @online82witness
    @online82witness Жыл бұрын

    Thank you! 🙏😌

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Thanks for watching, Angel 💯

  • @debrabailey1747
    @debrabailey1747 Жыл бұрын

    Thanks for information

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Thanks for watching!

  • @thecadillac6158
    @thecadillac6158 Жыл бұрын

    Thank you!

  • @Poohbify
    @Poohbify Жыл бұрын

    I can't handle this right now. I'm a bit overwhelmed. I want to get started.

  • @ML-dq2hq
    @ML-dq2hq Жыл бұрын

    This was great! Thank you!

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    You're so welcome!

  • @makemoneyonline4350
    @makemoneyonline4350 Жыл бұрын

    Fantastic video 💵💸💵💰💰💰

  • @dbest4755
    @dbest4755 Жыл бұрын

    Thanks much for info

  • @thebiggeneraloflyfe
    @thebiggeneraloflyfe Жыл бұрын

    Awesome Information

  • @jeffdorris5321
    @jeffdorris5321 Жыл бұрын

    Nice work

  • @jayjones2840
    @jayjones2840 Жыл бұрын

    👏🏽 very well done sir.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Appreciate it, Jay!

  • @Tylone_Johnson
    @Tylone_Johnson Жыл бұрын

    Great video 🔥

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Thanks 🔥

  • @tigerrx7
    @tigerrx7 Жыл бұрын

    Now you’re getting 3.3% on Ally. Well done

  • @JT-ob2cg
    @JT-ob2cg Жыл бұрын

    Go ahead and make that next video bro

  • @lovesimba2366
    @lovesimba23669 ай бұрын

    you are great

  • @jeffselchow5719
    @jeffselchow5719 Жыл бұрын

    Subscribed to New Channel.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Awesome! Thanks, Jeff!

  • @jacksonalouidor8342
    @jacksonalouidor8342 Жыл бұрын

    Are you also doing semi truck taxes?

  • @jdpark351
    @jdpark351 Жыл бұрын

    Thx Sean your info is very valuable and straight to the point!

  • @Art_Van_Delay
    @Art_Van_Delay Жыл бұрын

    Skip to 6:50 if you want to save time. You're welcome.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    All timestamps are always in my descriptions as well!

  • @grouponful
    @grouponful Жыл бұрын

    Tmobile checking account is 4%interest on the first 3k! 1.5%interest on anything after💰💰💰

  • @communitycookingchannel498
    @communitycookingchannel498 Жыл бұрын

    I love your video I have a llc but have no money to start up

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Thanks! What is your business about?

  • @communitycookingchannel498

    @communitycookingchannel498

    Жыл бұрын

    It’s a All general convenience store I think with the LLC license I can sell everything Make my biggest problem is I do not know how to find loans are hard to find grants

  • @communitycookingchannel498

    @communitycookingchannel498

    Жыл бұрын

    I have a lot of super great ideas like a laundry mat I know how to get the equipment but I do not know how to get the loan I have great experience in cooking but I do not know how to get the loan I have a great experience in Rent-A-Car service but I do not know how to get the loan

  • @LAKatwoman
    @LAKatwoman Жыл бұрын

    This was very helpful to me, Sean! I feel encouraged. I subscribed to ur new channel as well.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Thank you thank you! Glad you enjoyed it :)

  • @trinitytrancitions
    @trinitytrancitions9 ай бұрын

    I want to learn more about passive and income

  • @richardly-lee
    @richardly-lee Жыл бұрын

    Passive income requires sweat equity. Thanks for sharing.

  • @120paj
    @120paj Жыл бұрын

    Question what can be applied or useful to international persons from the video?

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    I don’t think any of these ideas are limited to the US other than the rules around how passive income is taxed

  • @120paj

    @120paj

    Жыл бұрын

    @@LYFEAccounting thank you for responding. Where can I review a trusted NFT website ? Any suggestions ?

  • @officiallakhara1516
    @officiallakhara1516 Жыл бұрын

    LOVE FROM INDIA

  • @HarryElston
    @HarryElston Жыл бұрын

    Nearly always you're on the money, Sean, but this time I think you missed it with the Crypto and NFTs which are like virtual Beanie Babies!

  • @musicalprodigy1
    @musicalprodigy1 Жыл бұрын

    I want the intro music

  • @jasonwayne9424
    @jasonwayne9424 Жыл бұрын

    Why not sofi? It pays 2%

  • @ZeroDarkTrader
    @ZeroDarkTrader Жыл бұрын

    Needed this 🙏🏿

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    💯

  • @GLDad717
    @GLDad7175 ай бұрын

    How’d you calculate $100/mo with .5 APY - is that with a $25,000 balance…?

  • @ivyplants
    @ivyplants Жыл бұрын

    Yes to passive income tax

  • @philipparker9893
    @philipparker9893 Жыл бұрын

    I am seeking some investment guidance. It seems like I am never able to identify trends, options always go against me, and I can't utilize scanners efficiently. I am looking for a simple reproducible passive income strategy that supplements my income and eventually replace my wage income.

  • @stricklandpilman2123

    @stricklandpilman2123

    Жыл бұрын

    Investment needs intensive research, charting, and then to understand theta decay on options etc. so much to explain my friend. Hiring a coach maybe the correct route for you. But it’s all over the web just not in order.

  • @philipparker9893

    @philipparker9893

    Жыл бұрын

    @@stricklandpilman2123

  • @stricklandpilman2123

    @stricklandpilman2123

    Жыл бұрын

    @@philipparker9893 There are good names out there, people that have shown consistency. Like Karen Marie Emma, she's currently my coach. Lookup the name , you can reach her through her home page.

  • @justingregory2965

    @justingregory2965

    Жыл бұрын

    @@stricklandpilman2123 I read many testimonies of her good strategy, she's good no doubt.

  • @philipparker9893

    @philipparker9893

    Жыл бұрын

    @@stricklandpilman2123 Thanks for the recommendation, she must be very good at what she does, her name is the first thing that pops up on the br0wser. She seems really solid and i have sent her a mail already hopefully she replies soon enough.

  • @DylanScott-xi2qj
    @DylanScott-xi2qjАй бұрын

    High yield saving accounts are at 4-5% rn

  • @demetriows1207
    @demetriows1207 Жыл бұрын

    I'm curious what steps or strategies you have to maintain quality of services of the passive business. You earned yourself a subscriber for your other account, appreciate the openness and emphasis on the need to invest in oneself and business before splurging.

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    That's a great thought! What do you think about a video on "How to Manage a Passive Business" ?

  • @demetriows1207

    @demetriows1207

    Жыл бұрын

    @@LYFEAccounting that can work... my business is a heavy person service business and I've been having trouble finding quality people that aren't busy so perhaps a "networking to find potential partners/trusted employees" as well hah

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    @@demetriows1207 Marketing and Hiring will forever be the challenge for service-based companies. I have started to rely more heavily on personality testing because some tests will reveal traits like "integrity" and "work ethic" but hmm, I like it, I'll consider making a video like this on my personal channel

  • @josiahthornton9125
    @josiahthornton91256 ай бұрын

    Make the video bro!

  • @tobysantistevan3667
    @tobysantistevan3667 Жыл бұрын

    Do the video!

  • @sbdjrbr6559
    @sbdjrbr6559 Жыл бұрын

    New apps out now on every platform tell a friend repost

  • @NOLA_Apparel504
    @NOLA_Apparel504 Жыл бұрын

    💯

  • @ismaelromero6185
    @ismaelromero6185 Жыл бұрын

    Already 4:30 min into the vid and not once is he saying how bruh

  • @ruel.e.i.
    @ruel.e.i. Жыл бұрын

    THIS🧠

  • @tomhawk8240
    @tomhawk8240 Жыл бұрын

    HAHAHAHAHAHAHAHA please

  • @marymoore4697
    @marymoore4697 Жыл бұрын

    Omg!!! 💎 💎 💎

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Thanks Mary!

  • @kadrian03
    @kadrian03 Жыл бұрын

    I would love a video on how active income is taxed

  • @LYFEAccounting

    @LYFEAccounting

    Жыл бұрын

    Noted! Thanks Latasha!

  • @jamesscott1687
    @jamesscott1687 Жыл бұрын

    Even with the economic fluctuation, and the downfall of some vital crypt0’s I'm so excited I've been earning $45,000 from my $10,000 investment everyday 10days.

  • @flosamson6776

    @flosamson6776

    Жыл бұрын

    🤔🤔🤔🤔

  • @jordanmick3435

    @jordanmick3435

    Жыл бұрын

    I get successful every week with the guidance of my BROKER and since contacting my BROKER, Georgina C Weigel , I have gained a lot with small losses, her trading strategy is top-notch.

  • @Art_Van_Delay
    @Art_Van_Delay Жыл бұрын

    Dude, 2 minutes and you still haven't talked about the reason I clicked your video!

  • @Inakamo
    @Inakamo18 күн бұрын

    Lie

  • @josephineshina8196
    @josephineshina8196 Жыл бұрын

    Despite the economic downturn I'm so happy to be receiving my profits of 56,200 from my investment of $7,500 every 14 days

  • @cutesparkle3228

    @cutesparkle3228

    Жыл бұрын

    Thus must be an investment with Mr Margaret.

  • @peterthomas..

    @peterthomas..

    Жыл бұрын

    My first trade on his signals earned me profits about 38,765.usd since then he has never failed to deliver to trades and make consistent profits for me

  • @a.k5675

    @a.k5675

    Жыл бұрын

    Yes Margaret is a good Broker I see he has really made a name for himself on here

  • @elvisjames8351

    @elvisjames8351

    Жыл бұрын

    He taught me how to navigate the trade market and earn for myself till date. He is good at what he does I give him that

  • @jennyclara4159

    @jennyclara4159

    Жыл бұрын

    How do I connect with this broker please?? I've lost enough trading on my own