My 12 Sources of Income at Age 30

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Income Stream #1 – 1:44
Income Stream #2 – 2:36
Income Stream #3 – 3:36
Income Stream #4 – 4:47
Income Stream #5 – 6:37
Income Stream #6 – 8:47
Income Stream #7 – 9:43
Income Stream #8 – 10:51
Income Stream #9 – 11:23
Income Stream #10 – 11:54
Income Stream #11 – 12:08
Income Stream #12 – 12:51

In this video, I’m talking about the 12 different streams of income that I’ve built. A little over a year ago, 10 of these didn’t exist, so if I can grow 10 income streams in a year starting from $0, I’m certain you can as well. Hopefully this will give you some inspiration for how you can start building and creating different income streams. Some are passive and some are active income streams. I think it’s important to have a combination.

▽MY MENTIONS FROM THE VIDEO▽
➤ The number 1 software that I’ve used to grow my online business (creates the checkout page, handles payment, delivery – all-in-one). Best business purchase of the past year:

For all 3 below, 🍎Use 🍎Coupon Code 12STREAMS
1. Legal Bundle (3 legal documents to protect your business):
2. Trademark Bundle (register your trademark):
3. Grow & Scale on YouTube with my online course, Mastering YouTube:

Learn how to grow a profitable YouTube channel. In this course, I cover step-by-step how I went from 0 subscribers to over 70,000 subscribers and 4 million views and making over $100,000 on YouTube in under a year. From setup, to time-saving hacks, to making money on YouTube, to getting featured in media, this course has you covered:

If you just want to learn more about YouTube, you can download my Free Guide on how I grew my YouTube channel:

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Download my FREE Legal Guide on how to legally protect your business:
Or Download my FREE Trademark Guide on how to legally protect your brand:

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➤ OTHER RESOURCES
📧 For other resources, check out my website
https://www.erikakullberg.com/resources

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About ME:
Hello! My name is Erika Kullberg. I’m a lawyer by profession, but my passion is personal finance. After I graduated, I had over $200,000 of student debt, so I made it my mission to dive into everything personal finance-related, so I could equip myself with the tools to pay off the student loans as quickly as possible. I ended up paying them off in under 2 years, and now it’s my passion project to share with you all of the strategies I’ve used to pay off my student loans, increase my net worth, credit card hack (travel on points), invest, house hack (invest in real estate), build passive income streams, and more. I hope you’ll join me on the channel!

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Guide to Legally Protecting Your Business
https://plugandlaw.com/legal-guide

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.

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Hey everyone it's erica and in this Video i'm going to tell you about the Different Income streams that i've built up and in January of last year 10 of these didn't even exist they were At zero dollars Non-existent so i'm going to walk you Through each of them so you can Hopefully start getting ideas for how You can build up different income Streams as well because i used to have This mentality that the most stable way To go about life Was to work really hard at your job and Climb up this corporate ladder And that's the path i was on i was Working as a corporate lawyer at this Law firm But now i see that that's actually Pretty risky first of all It's active income which means that the Amount of money you make Is directly tied to the number of hours You put in There's nothing passive about it the Moment you decide to quit or are Fired that income stream stops you're Also trading your time for Money and it took a really hard lesson For me to actually Realize that i don't want to spend my Entire life Constantly making that trade-off and

That sacrifice But also you're putting all of your eggs Into one basket You hear the stat about how the average Millionaire has seven different income Streams If you have seven different income Streams and one of them stops You're still protected because you have Those six others that can keep you Afloat But if you're putting all of your eggs Into one basket That's risky if something happens to it And another thing that i've realized From this experience of building up Multiple income streams in a year Is that if you focus on making some of These income streams Passive then as soon as one is on Autopilot It gives you time now to go focus on Continuing to build More because the ones on autopilot are Continuing to bring in money for you Okay so let's start off with income Stream number one which is youtube ad Revenue A year ago as you can see i was making Zero dollars from youtube ad revenue the Way this one works is you create a Youtube channel and upload videos Then once you get to a thousand Subscribers and 4 000 hours of watch

Time You can start making money from the ads That are playing on your channel Now the advertisers pay youtube to show Ads on your channel And youtube gives you as the video Creator 55 of that money and it keeps 45 The playback-based cpm number you see is How much advertisers are paying for Every thousand views on your channel and The rpm is what you as the creator Are actually keeping so compared to the Zero dollars that i was at last year Now on an exceptional streak it can mean That i'm making over a thousand dollars A day from youtube the next income Stream is something called affiliate Marketing And a year and a half ago i had no idea What that meant it sounded just like a Scam to me But now that i know what affiliate Marketing is it just means that you're Promoting another company's Products or services and you may get a Commission Or some sort of compensation for doing So an easy example is an investing app That i use called weeble You'll sometimes see me at the end of my Videos say and also if you want two free Stocks One invited up to fourteen hundred

Dollars you can sign up for weeble using My link in the description below Weeble gives me a customized link called My affiliate link So they can track exactly how many People are signing up for their app Through my link And then i put that link in the Description of my youtube video And if you sign up for weeble through my Link you get your two free stocks but Then also I'm going to get a free stock so that's How affiliate marketing works You find products or services that you Like and if they have an affiliate Program then you can start making money From promoting them Income stream number three is Sponsorships this is where a company Pays me a certain amount To mention them in my youtube videos Usually it's just about 45 seconds of The video with sponsorships and Affiliate marketing You have to be extremely selective about The companies that you align yourself With Because that reflects on you so even Though i get a couple offers a week for Sponsored videos I turn down the majority of them since i Only want to work with companies that i Really trust and believe in my mentality

Is that i only have one reputation It takes decades to build but just a few Seconds to destroy So i'm never going to compromise that Reputation for a quick buck And just to give you a sense of how much Sponsorships on youtube pay It really depends on what niche you're In for youtube I talk about personal finance on this Channel so advertisers are usually Willing to pay more My first sponsored video that i did on This channel was more than Five thousand dollars but less than ten Thousand dollars I love being transparent with you on This channel but i also love not getting Sued which is why When there are contracts in place that Say i can't reveal exact numbers i'm Just going to And give you you know rough estimates so That you can get a sense Income stream number four is a digital Product and the thing i really like About digital products Is that it takes time to create them but Then it requires Very little maintenance and is pretty Much passive The digital product that i sell is part Of my legal tech company plug-in law And the goal with plug-in law is to make

The legal things Simple and accessible for small business Owners and entrepreneurs Who maybe can't afford an expensive Lawyer so without boring you too much With the legal stuff Every business owner with a website Needs certain legal documents on their Website like a privacy policy To legally protect themselves and comply With laws But the problem is the free ones you see Out there aren't really great And paying a lawyer to draft these Documents for you Can cost thousands of dollars so my Digital product solves that gap And has all three legal documents that You need packaged into one So as a customer you download them Follow the instructions to fill in the Templates With things like your website name and Then your set and what's amazing about Digital products Is you can automate everything unlike Physical products where you have to Worry about things like Shipping and handling i use one software To create the checkout page And then accept the payments and then Automatically deliver the digital Products to the customer and if you are Thinking about selling products or

Services online I highly recommend getting the software It was my best Business purchase of the past year and I'll go ahead and leave that link for You below Apart from the occasional customer Service inquiry and then making sure That the templates are up to date These are pretty much as passive as you Can get Some other ideas for digital products Are ebooks Or selling spreadsheets like a budgeting Spreadsheet Or other templates like email templates Or resume or Cover letter templates my fifth income Stream is a productized service I think of a productized service as a Hybrid between a product that you can Just pick up off the shelf And a service where someone's actually Performing something for you As you probably know service based Products are great because they're the Easiest to start Even as a teenager you can start to sell A service Like lawn mowing or editing youtube Videos But they're limited because they aren't Scalable products are Harder to start but they can scale a

Productized service then Is this middle ground where you're Ultimately providing a service But it's packaged up as a product Offering because you're performing that Same thing Over and over again and if you can Automate it enough to where the Execution and delivery of it Is systematized and seamless you can Actually take yourself Out of the equation and have it serve as Almost a passive income stream So some examples are we'll mow your lawn Twice a month Or we'll edit an unlimited number of Youtube videos per month or we'll manage Your social media and create one Instagram post a day for you And those are the package services then You actually build a team to fulfill Those services So that's the idea behind a productized Service mine's called the trademark Bundle And it's part of my legal company Plug-in law so it's a Package service to register your Trademark in the u.s A trademark is a word or phrase or logo That helps consumers to identify the Source of a product or service Easy examples are the word starbucks or The phrase

Just do it or this green mermaid logo With the trademark bundle I've built it so that the customer gives Us information about their trademark Then we handle all the paperwork for Them so that they can register a Trademark And all we need from them is a virtual Signature i've streamlined the process And i've built a team around it So that i can take myself out of the Equation and i still get to accomplish My mission of Trying to just make the legal things More accessible because a lawyer will Charge thousands of dollars to register Your trademark But we've just made that into this Productized service that's Much more accessible my sixth income Stream is an online course I started hearing a lot of people say That they wanted to learn how i started On youtube How i went viral how i got these Sponsorship deals and got into media So i decided to package it all up into This course that's called Mastering youtube the thing i really Like about courses is that Everyone has a skill that they can teach And for courses You put time and energy into creating That course

But then it's pretty much passive and The only thing you actually have to Worry about Is how to bring more attention more Traffic to your course And i got super lucky and business Insider just did an article on my course And the advice i gave for anyone Thinking about doing a course Is to pre-sell it before you even create The course See if there's any demand for it i Pre-sold my course for about a month Before i Even created it just to make sure that It was actually something People wanted my seventh income stream Is being a lawyer Because i spent two hundred thousand Dollars going to law school so i feel Like i have to make use of it somehow Last year my focus was entirely on Building passive income so because of That I turned down active income passive Income again just means that you're Putting either money or Time up front to reap the benefits down The road So that you can actually make money in Your sleep and active income Is what most of us are used to my legal Practice is active income I have an hourly rate and i work for one

Hour as your lawyer And i make that certain dollar amount For my legal practice i'm just doing a Few things that i'm actually Very passionate about and then the rest Of it i'm turning down The first is that i represent a few Youtubers that have millions of Subscribers And i help them to negotiate Sponsorships and these deals And actually get what they're worth the Second is representing Startups that i really believe in and Want to help and the third Is i also occasionally do some trademark Related things The reason i turn down most of the Requests i get from my legal practice Is because it's not scalable and it's Not passive And i want to spend most of my time Building up those Passive and scalable things income Stream number eight is Dividend income a dividend is basically Where a company is distributing Some of its earnings to shareholders if You invest in these dividend-paying Companies Then you buy shares of the companies but Then It's pretty passive from there you'll Start getting those dividends

That you can then reinvest or use and if You don't want the hassle of choosing Individual dividend-paying companies to Invest in You can take a look at some etfs like This one where you're essentially Getting exposure to a bunch of different Companies Income stream number nine is white Labeling which is when a company removes Their branding and Logo and uses branding requested by the Purchaser An example that you'll probably be Familiar with is at walmart if you go to Walmart you're going to see All sorts of products under the great Value brand That's white labeling i've created a Product where purchasers buy it from me But then they want to put their own logo On it so i make A set dollar amount or percentage for Every one sold But it doesn't have my branding on it 10th income stream is rental income Besides dividend income this is the only One that existed before January of last year everything else is A completely new income stream Which just shows you that if you want to You can definitely build up multiple Income streams Income stream number 11 is speaking

Engagements With this a company or conference will Ask me to come speak about a certain Topic like Personal finance or youtube or Entrepreneurship And they pay me a set amount to be there And to speak i get really nervous Speaking i have Terrible stage fright and when i was Younger and it was worse I would essentially just black out while Talking and my mouth would be moving but My brain didn't comprehend So i would walk off stage and have no Clue what i just said But this is a skill that i'd like to Improve and i do like that speaking Allows me to hopefully have More of an impact on people so i'm Trying my best to get better Plus i'm getting paid for it so i have To be somewhat decent Income stream number 12 is angel Investing Angel investing is where you as an Individual Are giving a certain amount of money Maybe 10 000 Or 100 000 to a startup in exchange for Equity A piece of their company and the hope is That the value of that company will grow And eventually there's going to be a way

For you to get your money back plus More angel investing is considered Pretty risky because the chances of a Startup that you're investing in Becoming the next uber or airbnb Are pretty slim but it's something i've Gotten into over the past Year and i'm being strategic about Putting my money into companies that i Really believe in So hopefully in five to seven years some Of these companies will get acquired Or have some sort of exit and then i'll Get the payout or the money could just Go to zero so this is extremely high Risk And related to this income stream i'm Also doing equity deals Where i occasionally help some companies Out in exchange for equity So i hope you now have tons of ideas for How you can start creating multiple Income streams for 10 of these i was at Zero dollars in january of last year and I did this video because i wanted to Show you what's possible and i've Realized especially with making money Online There is no cap when i was in a Traditional job in corporate law There was a clearly defined cap but Online Everything is yours for the taking and It's about how creative you can be

How much you can put yourself out there How you can surround yourself with the Right people And probably equally important how hard You can work Without seeing results because a lot of These income streams You're not going to see results right Away it's about planting the seeds now So that you can reap the benefits later If you want to check out any of the Things that i mentioned Including the software that i use to run The online businesses I'll leave all of those links for you Below in the description And while you're there be sure to grab Your two free stocks and smash the like Button Thanks so much for watching You