3 Steps To Build A Passive Income Empire
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- Опубліковано 27 чер 2024
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There are 3 steps you need to learn in order to build a passive income empire. In just 3 simple steps, you could be passively earning money to build up your legacy on a whole new level.
Passive income is an excellent way to supplement one's income and create a brighter future with more security.
"You're going to be much better off" 10:23
Toby Mathis, Esq. has spent years of his life generating income through real estate and investing. Along the way, he has picked up the secrets to developing a strong passive income that is sure to make a difference in your financial future.
Watch our video through to the end to learn all these insider secrets needed to get one step ahead of the rest.
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Show Notes:
0:00 Intro
0:10 Assets
2:56 Step #1 70/30 rule
6:39 The 30% rule
13:51 Step #2 Diversify
20:04 Step #3 Managed Money
25:30 Lever your assets
32:59 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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#passiveincome #dividends - Навчання та стиль
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Do you provide consultation for Canadians
I’m just trying my luck with this and it doesn’t look too great for the job so 😊
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
Could you possibly recommend a CFA you've consulted with?
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Having multiple streams of income is a game-changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectations.
It's refreshing to hear someone giving financial advice and including "be a decent human being" as part of that advice.
Thank you so much for your kind words!
Same. He had me at: Give 10% of your income. Thank goodness he said we can also give our time.
😂❤
This should be a mandatory video in high school or college
Never. School is to teach you how to be a W2 earner. Bare bone basics. It's up to YOU to seek and apply wealth building knowledge. That's why there are books...READ.
i thought the same thing, then i read your response, how come they don't teach this to kids ?, my parents never saved any money , so I didn't, I been telling my kids to do it since they were young
@@Dahmer_Jeff this video is bare bone basics as well. The video might be too much for YOU, but it’s all basics.
I wish some body taught me in my 20s😊
@@Dahmer_Jeff exactly. People haven’t figured this out yet? And you put it nicely. School teaches you how to be a slave!
*In my faith, that giving 10% in charity is A PROVEN AND GURANTEED way to increase your wealth 100% GUARANTEED!!.*
I’m not sure how many different people I’ve watched or read to get better at my own financial literacy, but this guy is the absolute most straightforward person I’ve seen. Really great advice for planning. No extra crap.
Thank you, Dan!
Absolutely agree!!
Straight up numbers and facts.
Still. The fluff and stories Robert Kiosaki brought up 20 years ago in Rich Dad, Poor Dad gave the internet catch phrases like "passive income" and the importance of "cash flow".
Quite possibly the 1st guy to coin the phrase "passive income" and clearly define them as royalties, dividends, etc.
With the popularity of YT videos, entrepreneurs found a new way to generate "royalties". Then throw shade on the guy for being non specific on "what to do" or "when to do it".
Pretty much everything in this vid says use cash flow to buy assets. Even has the same definition of "assets" that Kiosaki introduced 20 years ago.
💯 agree on your comment. This is great information!
@@TobyMathis. P😊
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
True but this guy has outdated advice. Everytime I listen to him in an interview my brain cells jump of a bridge.
How do?
@@MaximilianCederholm have you not heard the crazy stuff he says all the time? His call flow stuff is good everything else is garbage
how do you borrow from your stock investments?
RK tells people to do illegal stuff half the time.
I live on $ 2000 a month as a single mother. No child support, so it looks like I'm going to need a few side hustles to do this, but at least now I have a plan. Thank you! 🎉
You can try to get a digital marketing certificate online. It may cost you about 50-100 dollars depends on your learning time. After you get the certificate you can looking for some really good side hustle. $20 to $30 per hour.
Good luck!
then what do you do with it?
From a fellow single mom with no support, you’re doing great by looking up these video. Those who seek, will find.
Opening a high yield savings account or money market account at the minimum both are free and you get compound interest on your own money saved for life
Not only is this great quality content, bu the fact that he is encouraging giving back in some sort of form, makes it exponentially better.
This is Gold🏆 . Something schools will never teach.
Thanks , already have a stock portfolio bringing me cash flow
That’s what UA-cam is for!😂 Seriously, our districts teach finance in elementary, middle, high school. So you should have a discussion with your local board members to change your district’s curriculum.
My public school taught me about the basics of economics and investing. But when they “taught” this my primary focus was on quick females (damn hormones). 15 years later I know better now and I am acting accordingly to slowly build generational wealth and be a better person.
He got the information from a book called rich dad poor dad. Go and read it, it change your life .
And when you are successful remember me .
Yes because they want us to be poor. To work all live.
I'm not even going to lie, this was a very solid video. Step by step. Realistic. Solid, safe advice. No fancy steps besides some of the option talk. This strategy will see results. Good job!
Giving was the one aspect I missed for 30 years of growing wealth. It changes EVERYTHING when you do it. It's written into the universe somehow.
I love it!
Thank you
agree
Messenger of Allah (PBUH) said, "Wealth is not diminished by giving (in charity). Allah augments the honour of one who forgives; and one who displays humbleness towards another seeking the pleasure of Allah, Allah exalts him in ranks." [Muslim]
Every high school student should spend 30 minutes listen to this. If they can put this into practice, they will be set for life!
Not wholesaling
I agree.
I’m gonna turn 17 soon, but this guy is solid, I think the idea of letting assets work for things rather than your own time is awesome, time is on my side. Wish more people were more responsible and long term.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
I agree, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
Brother- I 4:55 completely agree about giving. However it is giving because you want to give- that is the payback. Awesome advice- Thank you
Toby - you have made personal and investment finances understandable for the first time for me. Deep gratitude.
This video should be required to watch by everyone in high school and quizzed on before graduation.
Thank you
Toby I’m from London England, about to retire. Made loads of mistakes financially over my life. I know when I see a decent straight talking guy. You are dynamite my friend. Thank you so very very much. I have read books, searched to learn. You just smashed it wide open. Wishing you well Toby, keep doing this, the ordinary slogger guys and girls need you.
If you need some market tips i suggest you get in touch with Laura Grcae Abels
I recommend researching her further on the web, she's well established with over two decades of experience in her line of work.
I really love this explanation on how to properly structure your finances for wealth. Its not get rich quick, but is a gradual process to building wealth!!
This was by far the best and most straight to the point lesson on financial success. I truly appreciate having come across this video. No bu***t, just plain facts and super easy structured. A big thank you, this is public service ❤
Absolutely loved the giving part (it's a big source of personal happiness). Would have never expected to find it in a video about passive income, but absolutely loved it. I specially agree on that point. And the whole video, actually.
That stuck out to me too. I'm an Evangelical Christian, and believe very much in giving. However I listened to Robert Kiyosaki who is not, but he also emphasized how important that was. To me it seems interesting that even in the secular world, they are finding the benefits of giving.
I also loved this message on giving in the context of financial education. Giving’s reward is a promise from Jesus Christ, The Trustworthy One.
I respectfully disagree with you. I'm not against giving but it doesn't have to be money. You can give in other ways such as volunteering at schools, hospitals, etc. I've volunteered for over 23 years in different capacities, it was a source of personal happiness for me. I don't have to give my money away to anybody to make me feel good about myself. Just my personal opinion.
@@c17airborne I don't need it to feel better, either, really not. When I give money to someone who is going through a rough patch, or to help some cause, I actually do it to help those people. I have also volunteered with my time and skills. But one thing to be considered is that people having very heavy/busy activity (in professional and/or family matters), what can't provide with is time, while they can help with money, and that helps, too. Each situation is different, I think both ways help a lot, whether one does one or the other, or both.
But my statement about 'giving' being a great source of happiness was indeed in a *much* wider and deeper sense than just money related, and mostly about the people around you (family, friends, couple, colleagues, neighbors, etc). Most of the time not with money, but time, understanding, advice.. help, in one word, whatever you see that person needs. Sometimes it is just about being kind enough. Producing others' happiness gives in my opinion pure, real happiness, in an exponential growth of it: at the beginning, not noticeable _at all_ , just like when you start going to the gym (so, like that, and mostly everything in life, is a game of patience), but it gets to be a reality when it becomes your way of doing after some months/years. My 2c.
Text for further information on how to make money from bitcoin I made up to $65,750 a day
This free video gave me more value than anything I have purchased. Thank Toby!
Great to hear! Thank you for watching us!
Im fortunate enough to be 20 years old and still living at home. This enables me to save about 80% of what I make a year (about $24,000 aud). With the 80% I save I invest 60% into the stock market (mainly index funds) and use the other 20% to pay off my student loans. I want to get into property by the time I’m 25 so my goal is to sell some of my shares and put a deposit on a house soon.
Great goal and Idea, however rather than selling your stocks I recommend reducing your stock allocation from the 60% to 40% - 45% and put the 10%-15% into a high yield savings account averaging 3%-4% to start a real estate investing fund. Selling your stocks should be a last minute resort because the Dividends you are/will be receiving from your Index funds will really start to compound after your 5 year mark. Selling would reduce that great nest AND you could leverage that nest to purchase more Index fund shares during a big downturn. Lastly when you purchase a home using an FHA loan it only requires 3%-5% down payment + fees & fees.
Keep Up the good work young man.
@@WealthyBrainYT I've changed my strategy a bit since I wrote my last comment. Im still saving 80% of my income, 50% of it goes into stocks and I just save the other 30%. The last 20% I use to pay my daily expenses. I've decided not to manually pay my student loans, here in Australia we get interest free government loans which are automatically paid off proportionate to your salary. My money will go a lot further in stocks than it would paying off my loans. I also don't really see a point in buying a house, would rather rent and put the money I'm saving from a mortgage into stocks.
Wow this is gold, thank you so much ! I was recently blessed with a job that pays me six figures and I can honestly live with half of my salary so for the first time ever I have the opportunity to truly invest and accumulate wealth, I blew a lot of money on expensive cars when I was younger but I wasn’t ready for this kind of wisdom and maturity back then, today I’m 41 and I’m more ready than ever, the universe works in mysterious ways and everything happens at the right time, thank you again and god bless you all!
You're advice about giving is 100% correct. Doors will open that will blow your mind and people will begin to ask "why is that guy so darn lucky"?!😇💯
I am only a few minutes into your presentation and I had to comment that I love your ethos about giving/donating if not money then time and skills. This opens up so many amazing opportunities and friendships. Not bible thumping but to paraphrase- seek ye first the kingdom of God (good?) and all these things shall be added onto you. Practically every faith system in the world echoes this sentiment. B blessed! xxx
Toby, you bring so much light to the world of investing and money management. I love the way you break it all down into manageable chunks. This is my 3rd time watching this video and I glean something new each time. Love the content!
Thank you!
@@TobyMathis 😘🥰😍LOVE THIS Video & Love You Toby For Doing THIS Video📸 This Is Awesome👍 AMAN Aman AMAN Aman 🙏🙃🌹 I've Been Tell Some People That WE Need To Have a Group & Each One Learn A Piece of Financial Literacy & WE Come Together In a Show&Tell•Manor....!!!! EACH•One•TEACH•One Working TOGETHER In-Order Too Overcome Like•Minded People Achieving Financial FREEDOM ‼️‼️‼️❣️❣️❣️ WOW 😳 a Beautiful Thing!!!!
Sir Toby, I'm Going To Share This😘🥰😍 Thanks Dearly❣️
This was very inspiring. Gets straight into the point right from the start about assets and liabilities. Also, I've never seen in any videos of this kind suggest "giving". I did it as a younger (and poorer) self, but my obsession with money gradually led me to neglect it. Thank you for reminding me.
Love" live within your means" too many people confuse wants vs needs. I have only bought a new car once. I am proud to drive a used car knowing I am putting my money into assets instead a car payments . Great video.
Thanks Toby ,great info and so informative.
Liquid gold! Where have you been all of my life? Thank you Toby for sharing this knowledge!! ❤
Although many roads lead to Rome, one's gotta be the fastest route; for being the most actionable route for me, this tutorial just presented itself as my fastest route and I have you Monsieur Mathis to thank for "eating one and teaching one". Hopefully I'm able to reference this video within 2 to 3 years to give credit to whom credit is due. Wish me luck and thanks again!
I LOVE what you said about charity/being of service to others. I feel like few people in your field would underline that so pointedly, kudos to you.
I listen and watch TONS of investment advice videos on UA-cam. This was great! The leverage advice is something new to me. Instant sub here!! Thank you Toby
My father was serious about this except we lived off of a quarter of his pay. 😅 He was full of wisdom and despite passing away very young my mother has never had to work a day in her life due to how he invested. I'm so grateful for everything he taught me. This is great advice. I share advice I learned from my father and what my life experiences have taught me. Thank you for sharing your knowledge. It's a shame this isn't taught in school.
You father sounds like a very wise man. I appreciate you sharing. We need more like him. Sounds like his wisdom is being spread by his daughter though:-) Keep it up.
Thank you so much@@TobyMathis
I just wanted to commend you and thank you. As a 55yo I have heard the value /importance of giving presented every time in regards to financial planning or budgeting. Some times as an afterthought and others as the central point.
And I agree with that all day as life continues to prove we get what we put out. Yet, giving is so low on my priority list it has zero weight with no room for future expansion due to the long line of things ahead of that I believe are under funded.
You made the topic important by allocating time to it. More than most. You pointed out how resources can be assigned in a few ways to so as to include everyone, while showing empathy even if nothing is being allocated currently to giving, then invested extra time in highlighting the multiple benefits.
Thank you for that. You managed to make a crack in the foundation I’ve built and been reinforcing for decades large enough for me to realize it’s futile to restore it. My only option is to replace it.
Great advice, thank you 🙏🏽
Thank you for this simple rules!!
God bless you brother thank you
Awsome video. Thank you!
You are 100% right about the power of giving.
im going to follow this STARTS TODAY!!!! TY
Great content Straight forward and no extra crap loved it
I have never seen such a great explanation, with concrete examples, of how to build passive income. Thank you Toby, a wholehearted thank you, and big thumbs-up, of course.
Mr. Mathis, this was excellent information. I appreciate the insight. Please keep it coming!
This is the most succinct explanation of developing a wealth portfolio I have heard. I have been watching others on the platform and they say the same thing but this right here "bestest", clearest, easiest to understand and implement. Thank you 🙂 👍🏾
What a wonderful explanation of 10% giving. I just vaguely knew that giving brings blessing. Your words once again encourage me to give.
I am a complete novice to all this investment stuff, and I understood almost everything. Thank you!
Great wisdom! Thank you not only for excellent tax advice and also great life lessons!❤
Thank you for watching!
Thank you sir- you are helping me so much!!!❤
This is awesome. 50 y/o and started doing everything you had recommended about 20 yrs ago. Very true about generosity and charitable giving. Also have 5 types on income plus...Cash flow business. Great work/Great advice. Twenties in school and training until 33y/o, lived off ramen, mac and cheese for 10 yrs. Started at 33 yo - zero net worth. Now near 8 figures.
Congratulations on your results.
What are 5 types of income you recommend?
If you only watch one investment video, this is it!
Love it Toby! One thing I do instead of managed money is I look at well-performing mutual funds or ETFs and steal their ideas for good stock picks. Also, as a news junkie, I get ideas just from watching news stories, not necessarily financial news. I'd like to get involved in other asset classes but I'm not an accredited investor (yet).
Thanks for the principle of financial management
This is the best wealth planning video I’ve seen thanks.
Best video on this topic I’ve ever seen. Thank you for sharing your wisdom freely!
Thanks a lot, I've always wanted to give back but didn't know how to because of my financial situation. When you said give back with your time, it got me thinking and then I ended up doing some research. Here in Alabama, you can "adopt a mile" where you keep the mile on a highway/county road free of litter/trash. It's something that always stood out to me (I've seen others doing it), so I'm going to give it a shot 👍
Your advise is sage...better than most.
Thanks. May God bless you.
Finally, an amazing video with great values and lessons. This matches everything my mentors and parents taught me plus a bunch more. Thank you for the video 👏
Don't know where to start but really appreciate the information on your videos. You put the information out there so the go getters can have access to it. Strong wk💪
You are a great instructor Mr. Toby.
I’ve been looking into investing for a couple of months now. I came across you and I am excited now!! You explanation and guidance is what my soul was searching for! Thank you! I have subscribed and will be watching your channel. I am also sharing this video in particular.
Good stuff man thanks
Wonderful video!! So happy I found this channel!
Thank you very much!!! Great knowledge!!!! And information!!!
You sir are MUCH appreciated. Blessings be with you. 🥂
Same to you!
Massive thanks to you Mr 🙏🙏
Great video. Thanks Toby!
Thank you Randy for staying true to your people, all politicians envy you for your good hearted braveness!
Thank you very much for this wonderful information, Toby. Blessings.
You are exceptionally brilliant. Thanks for sharing what we have been looking for during our entire professional career.
Thank you for sharing your gold mind. Merry Christmas .
I just showed this video to my daughter(16 years old) she’ll learn about how to manage her money.
Awesome! Hope she picks up some useful tips.
@@TobyMathis thank you 🙏
LOVE THIS!! All of this makes sense. Thank you so much🙏
Thank you so much for watching!
Thank you Toby, I learned more here than in four years of college finance classes 😃
Great lesson. Thank you. Blessings
You are right about the REITS stocks. They are even better in terms of paying the dividends as the REITS are obligated to pay out 90% of their profits as dividends secured by law, while the normal aristocrat stocks can cut off in some phases. What do you think about the Tax Liens Certificates as an alternative to REITS investing?
Toby, how do you feel about syndications?
This was outstanding! Thank you. You have a new subscriber.
Amaizing information. Toby, thank you so much 🙏
Love you’re content on this video Toby, very thorough and informative. Thank you, you do an amazing job!
Glad you enjoyed it! Thank you for watching our content!
Your so cool... thanks
You are a great educator, I'm a big fan. Thanks for what you do !!
Agree...
Its all about investing.. but wisely...
So check out..
Roulette session goku
Awesome video thank you Toby!
Looking forward to get more of this type of education.👌👌
Learn Next Level Passive Income Strategies Through Real Estate & Stock Investing. Register for our next Infinity Investing Workshop for FREE 👉👉 inf.link/fb0592
Why would u tell people to go to robinhood to invest
They literally took capitalism from people and help Rob Americans
I will be back after fixing my whats app, typed one wrong number.
Good afternoon sir 💋💋😍😍💋🙏🏼🙏🏼🙏🙏🇺🇸🇺🇸❤️🇺🇸🥰🥰🥰🥰🥰,
How are you my love 😘😘😘😘😘😘, happy Christmas to you too 🥰🥰🥰🥰
Okay sir,it person man, phone number
Excellent video. This is exactly what I've done. I would also add that interest cost of debt on the securities is tax deductible and is a write-off. I would also add High Cash Value growth from life insurance policies as a foundational asset.
So VERY INTERESTING!!! Thank you, Toby 😀😘🖖🏼
Thank you for reminding me this again. Continue inspiring us human being till we have a decent life. Kudos
God bless you in the mighty name of Yeshua Toby.
watched this video 2 times now and I will watch this one again, like a religion, this is a way of life, that I need to keep reminding myself of. Thank you and I have already recommend your video to others!
Hi Abbi, thank you for watching our content!
Thank you! very valuable information!!!
Excellent advice. Thank you.
Glad you enjoyed it! We hope you consider subscribing to the channel.
Toby what an absolutely FANTASTIC video. Thank you for sharing your valuable knowledge and for capturing such a crucial part of finances- GIVING BACK. Thank you Toby.
Glad you enjoyed it! Thank you for watching our content!
Great content! I had been keeping a disproportionate amount in my businesses. You capital allocation and tax strategies are just the kind of content I enjoy consuming. Going to trim some of my growth stocks for a higher allocation of dividend aristocrats and REITs. Sadly, just this year starting to get into private allocations, etc. Thanks for the excellent content and keep it up!
Thank you for watching!
Great content
Thanks for the great video. A lot of stuff I'm already doing but I learned a few things too. Much appreciated
You are the man. Right On. Excellent job. You are real person.
My wife and I did 70/30....only think we did different was the 10% was our spending cash for misc stuff...20% went to debt/investments. Its worked amazing to get us outta debt.
Great stuff Toby! I agree with you plan. However bee very careful off you let someone else manager your money- most mangers and companies can't beat the index. Real estate is good over the Long term. I use leverage alot but you must be responsible about it. Don't overleverage then lose you're job or get sick then everything crumbles. I leverage a small percentage of my net worth so I could pay it off anytime. Writing a covered call guarantees you will get paid and at worse get bought out but I'm not likely to do if I think the stock will appreciate significantly-you get some cash but then get called out and lose your stock when it runs...