How I’ll Build $200,000 in Passive Income This Year
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Today I’m talking ALL about PASSIVE INCOME. The what, the why, the how of passive income. First I’ll cover what passive income is, then I’ll talk about why I’m going to be revealing this on KZread, followed by how I’ve set the goal of $200,000 of passive income and finally, how I’m actually going to create this $200,000 of passive income.
Passive income is a trendy topic--and for good reason. I believe in transparency, and I thought that by sharing my passive income goals and strategy up front with you, and bringing you along on the journey, you will hopefully get some benefit out of it too!
I’ll talk about the standard online passive income streams, such as passive income from affiliate marketing and passive income from youtube, but I’ll also go into a few other streams I’m going to build this year. My goal is that by seeing exactly the thinking process that goes behind this, you’ll get some ideas too and try to build at least 1 passive income stream this year! (which, if you watched my video at the beginning of the year on the financial goals you should have for 2020, I list as 1 of them!)
📖 Read more about this topic:
12 Passive Income Ideas - erika.com/side-hustle/passive...
Understanding Passive Income vs. Earned Income - erika.com/side-hustle/passive...
📌Join 4 million followers on Instagram to see my other money videos: / erikankullberg
NOTE: This description contains some affiliate links, meaning that I may earn a minimal commission if you click through and use these links (at no additional cost to you).
Disclaimer: I am not a financial advisor. Although I am a lawyer by profession, I am not your lawyer and no attorney-client relationship is established with you in any way. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial or legal advice.
Пікірлер: 681
I think it's mean and inaccurate for anyone to say that your previous videos were "slow" or "scripted". They didn't come across that way. *Those people are straight up jealous* xo
@Erika2
4 жыл бұрын
Lissa K that’s such a sweet message-thank you Lissa! Honestly I’m just trying my best to improve each video :) I think it takes time and practice to get better in front of the camera.
@sammylane21
3 жыл бұрын
Or they are uninformed to the fact that A.) There are some people that actually do sound like this naturally or B.) It is scripted and that is not a bad thing because this means this channel is a pro channel that knows a script is essential to have.
@arthurmiller9434
3 жыл бұрын
@Lissa: Agree! And since when is speaking from a script wrong?
Thank you for sharing! This is great stuff!!!
Erika, great job on the new video! Setting goals and making yourself accountable to others is a great way to stay motivated.
@Erika2
4 жыл бұрын
Thank you Hunter!
I just want to say that out of all the KZread videos I’ve seen, this one shows how genuine you are, and your honesty speaks volumes to me. Keep doing you young lady, and I love your content. 👏🏽👏🏽👏🏽
The most honest and well informed youtube, & encouraging advice from anyone thus far I have listen to. Thank you Ms Erica . The best!
It's so awesome that you took the time to listen to follower feedback. I think your personality definitely pops more in this video! Thanks for all the great info!
@TheWittyMermaid
2 жыл бұрын
Yes! I agree! Great job Erika!!
Erika your level of confidence doesn’t match with how incredible you are. 95% of people would kill to be able to do what you do and be in your shoes. I love your videos and hope to see you as confident as a rockstar that you are very soon.
Your new speed is just fine. Typically, (and I am sure most people do this) I set the speed to 1.5x on all videos. It was well paced and felt much more authentic. Well done.
@Erika2
4 жыл бұрын
Jeffry Garew thank you!!! I feel so relieved receiving this from you... I think you’ve probably been watching since video 1 or 2 so it’s great to hear this. Crazy to think we are on video 14 now
@BlackWarrior_PufferFish
2 жыл бұрын
I like 1.25 x
@Index-o1234
2 жыл бұрын
I liked the sincerity in your Video...Never be afraid to fail, The only way we learn in any venture is to learn from your mistakes and make small adjustments as you go. Mission Statements amount to to Comfort level you attain and want to keep when you decide to Retire. Hold tight to your Passion but remember we as Humans also Burn out at times and need a Vacation to Recharge that Passion. If your married....Don't divorce without an agreement, if you have Children set up a Trust for them. If your single enjoy the freedom and independance you have, The solitude and peace of mind that you have at the end of each and everyday and if inclined Invest in a Companion for yourself you look like the Yorkie type...I could be wrong....Looking forwards to your continued success young lady. Looking fowards to this.
Hi! Okay a few things: for email updates you can click here erikakullberg.activehosted.com/f/7 What do you think about my plans? Any tips/strategies you can share with me? This will be my first year self-employed! Also this video was terrifying to post but now it's out in the public!
@CuriosityUnchained
4 жыл бұрын
Erika Kullberg: Lawyer's Finance Tips Absolutely awsome video Erika. You will definitely make it big if you continue like this. You must’ve put an enormous amount of work into this video. It paid off 👍
@CuriosityUnchained
4 жыл бұрын
You have nothing to be embarrased about. You’re doing unbelievably well 😁
@Erika2
4 жыл бұрын
Curiosity Unchained thank you for saying that!! I think you’re going to do great things with your channel too!
@CuriosityUnchained
4 жыл бұрын
Erika Kullberg: Lawyer's Finance Tips I have one tip or maybe I should say a humble suggestion. Maybe one day we could do some kind of collab
@Erika2
4 жыл бұрын
Curiosity Unchained that’s a fantastic idea!! I’m trying to hold off on collabs right now since I’m getting a handle on things still, but would love to take you up on the offer in the future!
🙌🙌Great video! Love how organized this was - especially with the table and the specific goals you have. Look forward to seeing how you progress w/ each of them! Especially interested in the eBook route.
Great job, Erika! This was an excellent video with wonderful content and value… plus A+ for putting yourself out there and having the courage and vulnerability to just do it! I think you being authentically you is what shines, even outshines the content… so that says a lot. Luv the ending with your snack reward lol Keep up the good work! 👏🏽👏🏽
Wow I love how someone is FINALLLYYYY calling these KZreadrs out about their passive income and drop-shopping jobs. Well done 👍🏾👍🏾👍🏾👍🏾
@Erika2
4 жыл бұрын
Haha, I'm glad you liked the video!
@deboman81
4 жыл бұрын
Erika Kullberg: Finance, Investing, Passive Income no doubt!!!!!
Excellent video Erika, you were even better off-script. I think you should continue like this and you will make it big. Looking forward to following your jorney
@Erika2
4 жыл бұрын
jerrydahlgren74 thank you Jerry!! I’m happy to hear that! Thank you for taking the time to watch and for following me on this 😃
I recently discovered you on KZread. Thank you for sharing your advice! It's definitely really helpful for people who aren't too sure about ways to create passive income (including myself) and how to plan to reach your goals. By the way, don't worry about the script too much. I think you did great by being your natural self on camera
thanks for doing this erika! inspiring, please make more like this bc I love following your journey
Love the vulnerability and transparency here!!! Never seen it broken out into this much detail- thanks for sharing
@Erika2
4 жыл бұрын
Thank you!
Yes not scripted feels right to the viewer. It feels naturally and relatable. Love the fact that your starting from 0 and showing us the possibly. Visuals are always better thank you!
"Clear" advised me too... enjoying the channel !!!
*LOVE LOVE LOVE this! Super gutsy of you to do this! You earned a subscriber because of your courage! Can't wait to see you succeed!*
@Erika2
4 жыл бұрын
The Skeptical Investor with Jay Lopez oh wow! Thank you so much for this comment!!! And thanks for the encouragement!
@theskepticalinvestorwithja8303
4 жыл бұрын
@@Erika2 looking forward to seeing everything unfold! :)
I love it. I hope you reach all your goals and I think by being vulnerable you reach more people. You’re real and that’s important. Keep off script. You did just perfect
I love videos about passive income almost as much as I love passive income itself! Awesome video, Erika!
@Erika2
4 жыл бұрын
Thank you Ross!
Hi Erika, you are the first KZreadr that I have seen giving great pointers for someone interested to start a channel. Thank you so much for sharing such valuable information. And with the legal background that you have I'm sure you will be hitting over 100K followers. Keep the good work.
You’re super smart...and you’re making me smarter!!! Stay vulnerable. And don’t limit yourself. Excited I found your channel 🥂 let me go and click your 🛎
Hi Erika - Great videos! I would love to hear you sharing tips on creating "templatized" and "resellable" services (legal template in your case). I think it is super interesting!!
Great video! Thank you so much for sharing your challenge with us. I know I am not the only one who feel encouraged through you!
@Erika2
4 жыл бұрын
Thank you!
Recently discovered your channel and so glad I did. Thanks for sharing your journey and goals with us. I’m excited to watch more of your videos.
Love the energy Erika, the world needs more positive go getters like you👊
Read at a pace that you are comfortable with. 💕 I just discovered your channel and I love it!
I love how you shared this video and in it you literally manifested so much more in your life. I teared up when you celebrated 1K subscribers, now look at you - THRIVING!!!!
Finished watching! You are amazing! Just a thought on the goal setting... I like a 2 tiered approach. A "promise" which the amount you are promising to yourself you are going to make or a by when, and the "Go For" you're going to make this your stretch goal that you are always 100% focused on (the $200K). So excited to be a part of the journey! I'll be tuning in!
@Erika2
4 жыл бұрын
I love this!! That's such a good idea. Thank you for watching and sharing this approach!
You actually weren’t speaking fast. You were speaking at a good pace and clearly✅
@Erika2
3 жыл бұрын
Thanks Brian!
AHHH I love that i stumbled upon this Erika, thanks for your vulnerability and wow look at you right now - getting to that amazing goal! Excited to continue seeing your progress :)
Great video very inspiring motivating I am also building the passive income in a love the concept so thank you for this I know it takes time I know it takes discipline I know it takes perseverance and I know it takes the willingness to climb to the top of the mountain so here we go to 2020 Thank you Erica best of the best to you also
I absolutely loved that video. Off-script is the way to go for you. I think you are amazing and I want more videos like this pleeaaaaase!
@Erika2
4 жыл бұрын
Thank you!!!! OK :) :) I will deliver more videos like this in the future. Makes me happy to read.
I love your videos. You have been such an inspiration to me. I have actually changed my lifestyle after watching a random video of yours that popped up in KZread suggested vids. Thank you and stay beautiful! You are making your grandpa so proud
love the vulnerability! thank you so much for sharing, fully inspired
Just finding you Erika. I like you. You seem real, up front, honest. You are vulnerable and so cool about it...so transparent. I love it. I know nothing about finances but knew I needed to start becoming somewhat educated about it for me and my future. At 60, it's never too late. Thank you for helping simplify it to a person like me and being very clear. I am a new fan. You go girl! P.S. What I LOVE the most is that you want to help people and not corporations who care more about $ and not PEOPLE. Thank you.
Erika, you are refreshing! Haven't seen anyone like you on KZread...and that is a good thing. Don't let anyone discourage you. I am just getting started, so you are inspiring. Thank you and keep up the great work.
@Erika2
4 жыл бұрын
THANK YOU!! You have no idea how amazing it feels to get a comment like this. Thank you thank you thank you!
This is brave and a unique approach! It’s showing honesty and integrity.
Wow, Erika really good information. Saw you on Think Media Podcast Video and was impressed. I always have trouble taking financial advice from people who haven't actually paid off things and who are debt-free or totally in control of there money! Thank you for putting yourself out there and making these videos. I am still nervous when making mine but I am determined to be a value in my niche. I will be following you and tuning in.
Great job! Keep going girl!! I will be watching and cheering you on!!
This video probably covered your goals all by itself. 😆 with it growing your channel exponentially and all the awesome next videos you created after this! I’m definitely subscribed! Thanks Erika!
Great content, would love to see an update on the status! Best of vibes to you!
Great job putting your goals out there. I love your positive and warm energy. I will come check on your videos. As a little KZreadr I can learn from what you are offering. You got this girl.
@Erika2
3 жыл бұрын
Thank you so much!
Very interesting, and I will definitely follow your journey. Thanks for sharing!
@Erika2
4 жыл бұрын
Emma Ella Show thank you so much!! I’m really happy to hear that!
This video is great and has given me a lot of ideas. Thanks for your courage to go out there and be open with your followers. Cheers!
Loved it either way. I loved the previous light, airy and zen background better though. I’ll be watching your progress
@Erika2
4 жыл бұрын
JOY of RVing thanks for following along!! I loved the previous background but all of the light made it too difficult to film-I was basically limited to 2 hours where the light is just right for the camera :(. This one is nice since it’s all artificial lighting so I can film anytime I want. I think I filmed the end of this video at 1am 😂
Wow, awesome video. Thanks for being open and vulnerable - and brave. Nice flow in your talk, really nice effects, and inspiring content! Especially now that I'm considering starting a business. I've subscribed and hope to follow along for updates. Best of luck! Go for it!
@Erika2
4 жыл бұрын
Ingmar Berg Mikkelsen hi Ingmar, thank you for such a nice and encouraging comment! I really appreciate it. I’m excited that you’re considering starting a business too-keep me updated please! I’ll be rooting for you as well!
Love this video! Also love the new background!!
@Erika2
4 жыл бұрын
Jason Biring thanks Jason! Yay, I’m glad you like it! Much nicer for me to film with this background since I don’t have to depend on the sunlight :)
Awesome video topic! Will be interesting to see you achieve this 😊 Best of luck Erika!
@Erika2
4 жыл бұрын
Investing Engineered thanks! I appreciate it!
Erika I stumbled across this video and watched it completely, you've definitely come a long way since this was published. I found your passive income strategy very well planned and from looking at your numbers I can see that you reached some goals on scheduled time. Congrats! I am going back to watch all your content I won't comment on most but you'll know that I'm on it.👏👏👍💪
@Erika2
4 жыл бұрын
You're awesome!
Great video Erika. You are definitely getting more comfortable in front of the camera! Keep working hard!
@Erika2
4 жыл бұрын
Wow, thank you Brad! I really appreciate that!
Wow you're amazing the fact that you are doing this,taking us step by step the detail and thought and patience
Girl I live you! Just know that there's so much power in being volunerable! You are literally the best youtuber I know!
@Erika2
2 жыл бұрын
Awww thank you Karina!!
Kudos on the big goal!! and totally a vulnerable move so totally cheering you on!
Thank you foe this video! I have some planning to do :)
Thank you for your honesty. The revenues point you made was great! No One tells ppl that. 90k subs now! Way to stick with it!!
Thanks for posting this. Really liking all of the videos you have been making and posting. Very much a refresher from the "standard" personal finance schools of thought. I'm also a bit inspired by the fact that you are a licensed attorney and want to use your skills to make a difference and that you paid off your loans from law school. I wish one day to go to law school, but my $50k a year job with the $35k undergrad debt (I paid off ~$10k in credit cards and recently just finished paying off the car which was around $33k once all was said and done - both within 2.5 years of finishing school) on top of ever increasing living expenses in California just some how makes me shy away from being a broke student again. You setting your goal of having an online legal business in addition to my current job as a paralegal offers me some brainstorming thoughts though as to how I would come out of Law School on top. But getting there and getting through it is a different matter... Thanks again!
@Erika2
4 жыл бұрын
Hi Nathaniel, This comment was really nice to read. I can completely understand how discouraging it must be to be tied down by the undergrad debt, and how you wouldn't necessarily want to go back to the broke student life once again. Law school is definitely something I recommend REALLY thinking about before pursuing. Many people (myself included) go to law school without really thinking about the gravity of what $200k of debt means. You should definitely pursue some passive income streams now! I wish I had started earlier. There are SO MANY ways that you can get creative and build up multiple streams of income, without really investing much upfront (just time). Hopefully future passive income updates will give you ideas too :)
Love this video!!! Thanks for sharing a clear and honest path. I’m hooked! I can’t wait to see what you accomplish.
Just found your channel. All great info! Look forward to more.
You’re doing great - I just found your channel & it’s really inspiring!! Thank you!
Thank you so much, I didn't know anything about money,investment etc... you have work so harde to be were you are today and to teach us what youv learned
Thank you Erika! New subscriber here and I love love your insights. Also, yes love the new speed. Learning a lot from you!
Yes, continue to share with us for passive income! ❤ your channel!
Thank you for being so open about your plans! Publishing them here definitely adds some accountability to your agenda and I'm excited to see how you'll be doing.
@Erika2
4 жыл бұрын
Michelle L. Thank you Michelle! I think it’ll definitely keep me accountable!
Love this! Thank you for being brave, you're doing great! 😊😊
@Erika2
4 жыл бұрын
Awww, thank you!! I appreciate you!
This gave me so much inspiration... Thank you kindly
You are amazing. Keep it going full force, and don't give up.
This is an awesome video! I'm just getting started but THANK YOU for helping people see that Revenue is not NET!!! That always drives me crazy when people tout their revenue figures and never disclose their net!
@Erika2
4 жыл бұрын
Super important distinction for sure. I'm so glad you like the video!
Hi Erika, you can't not please everybody. I am grateful you are giving us this informatin out your good heart, from the botton of my heart Thank you very much.
Good luck. I hope you reach your goals this year. If things don't go quite as expected, then perhaps you'll become a stronger person for it when you come out on the other end.
@Erika2
4 жыл бұрын
Keddie thank you so much! Exactly-I love that mentality! Either way it’ll be a win!
You’re awesome, great guidance and info, congrats on being vulnerable!
@Erika2
4 жыл бұрын
You're awesome too! Thank you!
I never comment on videos, but I think this is an amazing video! Looking forward to seeing your progress on this journey. Stay off-script!
@Erika2
4 жыл бұрын
Rupam Bhar WOW I really really appreciate you taking the time to comment-I feel honored! Thanks also for the encouragement!
@rupambhar7051
4 жыл бұрын
Erika Kullberg: Lawyer's Finance Tips Thank You! The reason why I commented is because I watch personal finance videos all the time and have never seen anyone do a behind the scenes with lessons learned in real time about passive income. This is an amazing idea and will help educate a lot of people! And as a fellow attorney, good look on building up your online legal business. I know you’ll do great!
@Erika2
4 жыл бұрын
Rupam Bhar it’s awesome to meet a fellow attorney! I’m really excited about your comment because this is exactly why I wanted to do this. For my ego, it would’ve been much easier to wait until I’ve had some success and say “this is how I made X in passive income”, but I just think it’s not as valuable as really seeing the process from 0. What kind of law do you practice?
@rupambhar7051
4 жыл бұрын
Erika Kullberg: Lawyer's Finance Tips I am a Patent Attorney. I like my job, but I am always looking at ways to increase my passive income beyond the traditional methods (stocks, real estate, etc.)
@Erika2
4 жыл бұрын
@@rupambhar7051 Amazing! I interned at Verizon in law school and spent some time doing their patent stuff--LOTS of respect for what you do, as it was way over my head, haha. I love that you're actually looking to increase your passive income! I rarely hear lawyers talk about passive income to be honest.
Excellent video!! You gained immediate credibility when you mentioned survivorship bias. While this is the first (and only) video of yours I have watched, I think the speed and going off script was perfect. Acknowledging the vulnerability at the end was refreshing to hear. I hope your endeavors succeed and at the very least this proves a great learning opportunity.
@Erika2
4 жыл бұрын
Donald Trainer hi Donald, thank you so much for the wonderful comment! I’m really glad you enjoyed it! I completely agree with you-at the very least it’ll be a learning opportunity. 😊
Hola Erica. Just listened to Tubetalk and heard about your work. Such an inspiration you are and such a lovely laugh you have. I'll be sure to follow your channel. Saludos desde Dinamarca.
thank you SO MUCH!! please keep this videos!
Awesome job, Erika, you are such an inspiration to many, keep up the GREAT work!!! I am sure you will surpass ALL your goals.
Thanks Erika, love your videos. Keep up the good work.
I love this! Toss the scripts and trust your inner voice! It takes courage to put your plan out there knowing that it all won't go perfectly. It will be fun to watch! Thank you for taking us on this journey! The best teachers encourage and inspire. You do that well. That inspirational aspect is lacking in so much of the 'financial education' that is available in schools. I love that you want to connect your passion to your business. That will help you through the tough times and missteps. One caution: So many mission statements are little more than PR Department generated BS. They are filled with grand words of 'sustainability' and 'inclusiveness' etc. Often they are just buzzwords that sound great but it really has nothing to do with the everyday operation of the business. A mission statement that is a true reflection of your actual day to day work and goals is genius. It is and should be the 'why' behind the what. This will be fun to watch!
@Erika2
4 жыл бұрын
I'm seriously so grateful for this comment. Reread three times. It's definitely scary putting a plan out there like this--my ego and self-esteem would've much rather preferred sharing successes after the fact, haha. That's a really good point you bring up about mission statement. I feel like I should've called it "passion statement" or something but that probably would've sounded cheesy. Anyways, thanks so much for the lovely comment! I seriously live for the comment section. It just drives me to continue to make videos and step more and more out of my comfort zone for each video. So thank you!
Came from the ThinkMedia podcast where you talked about how you got to 3 million views in 8 months. New subscriber! Good luck on your journey to $200K in passive income!
Thank you for these videos. I lost my "higher" paying job last year due to Covid downsizing and had to take one that is a 50% cut in salary. I was trying to think of ways to supplement my income along the lines of a second job, part time, delivering pizza, anything and you've given me some excellent ideas to run with. Please be well and keep them coming.
@Erika2
3 жыл бұрын
Thank you Rob! Sorry to hear about your salary cut. I'm going to be making more videos related to making more income - from what I've learned in the past year. Hopefully you'll find them helpful.
Thank y'all so much dearest 🌹 Y'all such an inspiration 🥰 Appreciate y'all from the bottom of my heart 💖 Be Blissful Eternally 🙏👼🌈
Love your plan! Looking forward to following along.
@Erika2
4 жыл бұрын
Thank you Tony! Appreciate it! Just posted my very first update a few hours ago - it's titled "Took a 99% Pay Cut for This Dream Job".
I genuinely love your vulnerability approach!! I am huge fan of this way of being! Thank you being you! High five
Thank you for the videos and having the courage to follow your passion.
I love the transparency!!
I love your content- because you are trying it !
wow, that would be absolutely amazing!! You definitely deserve so many more subscribers. Hopefully, you'll be incredibly successful with this journey and maybe even make more.
love your channel!! best part that attracts me is the pure transparency! thanks for sharing the process!
Girl I love your channel! This channel is a hidden gem on KZread
@Erika2
4 жыл бұрын
Thank you so much!!
great video erika you are talking just fine either way love you!
Quite encouraging Ericka !
U R doing great Erika with great info !
Im so thankful for seeing this video. I am about to start my own business but have no idea what to do. I was thinking about an amazon pba business. I dont know. But thank you for this information Erika. Hopefully you will keep us updated and teach us what youre learning along the way👍
@Erika2
4 жыл бұрын
Thank you! I'll try to do an update soon and give you tips!
@christawnprinceofnjbtbtv8070
4 жыл бұрын
@@Erika2 Thank You. I really need it! 👍
I have seen thousands of KZread videos and have done several hundred myself. I am super impressed with your content, character, and charm. Your personality is a breath of fresh air! You are a natural at this and I'm looking forward to following your channel.
@Erika2
3 жыл бұрын
This made my day! Thank you!
Hi, Brian sends his regards. He was spot on. Great channel!
@Erika2
4 жыл бұрын
I'm so excited to have you!
You did well speaking....and being someone that use to talk to hundreds of people at a time, I promise it will get easier by the day. That is very aggressive passive income streams but you’re right...big target/little target 🎯 Congrats on that 1k 👍🏻.
@Erika2
4 жыл бұрын
Wow that means a lot!!! I'm sure as with everything, the more I practice it'll hopefully get easier. What kind of public speaking did you/do you do? Do you ever get nerves? Haha, yes super aggressive goals but I figured better than shooting short :P
@chuck5555
4 жыл бұрын
Erika Kullberg: Lawyer's Finance Tips Leadership instructor, Drill Instructor and senior enlisted in the Marines. Lots of public speaking and scrutiny 🤦🏻♂️ Anyway, interested to watch your channel, the information you give and to watch you grow 💪🏻👍🏻
@Erika2
4 жыл бұрын
Chuck 555 those are really tough gigs I would never be able to do! Much respect for you. I would be far too nervous. Thank you! I hope this year will be a great learning experience for me and I feel excited to have this opportunity through KZread to document it 😊😄
I’m excited for your updates. I really wanna build passive income that allows me to work from anywhere in the world but I don’t know how to
@Erika2
4 жыл бұрын
Yay! Hopefully you'll get some ideas from my videos. Next Tuesday I'll be doing a passive income update :)
I think you are doing a fantastic job. Keep up the great work!
Thank you so much Erika for the info.
@Erika2
4 жыл бұрын
Thank you Edwin!