How I Make 200k a year w/ 6 Streams of Passive Income at 28 years old | Entrepreneur Money 2022

Jaz introduces her method for making a six-figure income without a traditional job. She highlights that she has narrowed down her income streams from eight or nine to six, aiming to reduce them further. She emphasizes the mindset of 'doing less to get more' and prioritizing quality over quantity. Jaz also proudly states that 90% of her income is passive, built over years, allowing her financial freedom at 28.

Jaz explains that with multiple income streams, keeping track of money is crucial. She created a custom spreadsheet designed for individuals with diverse income sources and spending categories. This spreadsheet helps her manage finances efficiently, especially during tax season, and is available for download.

Teachable, an online platform for selling courses, is Jaz's highest-earning income stream. She advocates for creating digital products like courses as a powerful way to generate passive income and wealth. She explains that people are willing to pay for structured learning from experts to avoid trial and error, even if free information is available. Her single course, priced competitively, makes up the bulk of her monthly income.

YouTube's Google AdSense is Jaz's second-highest income source. She advises that the amount earned depends on the video category, with personal finance and health/fitness generating the most revenue due to higher advertiser bids. She notes that her AdSense income increased significantly after she started creating personal finance content, regardless of channel branding, as advertisers bid on individual video topics.

Jaz engages in various types of trading, including day, swing, and scalping, primarily in Forex and stocks. While she reinvests most of her trading profits into stocks, she considers it an income source because she could withdraw the money if needed. Her Forex course (on Teachable) teaches others how to trade. She acknowledges the current stock market downturn but remains optimistic about long-term growth.

Discord serves as Jaz's fourth income stream. She runs a paid Discord community as an extension of her Forex course, offering students direct access to her, a trading community, and Q&A sessions for an additional monthly fee. She likens it to Patreon or paid Facebook groups, generating income based on membership numbers.

Affiliate marketing is Jaz's fifth income stream. She partners with numerous companies, including Amazon, Magic Links, and Teachable, earning a percentage when someone makes a purchase through her unique links. She highlights its passive nature and the ability to promote products she genuinely uses and enjoys.

Jaz explains why she avoids sponsorships, prioritizing 'peace over profits.' She values her autonomy as an entrepreneur and dislikes external control over her content and schedule. Therefore, sponsorships generate zero income for her. Her sixth and least profitable income stream is Instagram Reels bonuses, which offer monetary compensation for video views. Despite a viral reel, the earnings are significantly lower compared to YouTube, leading her to prioritize platforms that offer a better return on her time and effort, ultimately choosing YouTube as her 'home' platform.