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5 Types Of Passive Income YOU Need To Have 

Toby Mathis Esq | Tax Planning & Asset Protection
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Want to create the most efficient passive income stream? In this video, I will introduce you to 5 types of passive income YOU need.
Claim Your FREE 45-minute consultation to receive business planning tips and asset protection. 👉 aba.link/8dv
Passive income is a great way to supplement your income and have some extra money saved up. Furthermore, it is a great way to generate income without working hard. It's also a great way to create extra cash while you continue to work your regular job.
"I wanna get paid as we go along." 8:35
Building wealth is not merely a luxury but a necessity for financial stability and security. In wealth creation, passive income streams occupy a crucial position.
These sources of income, which include investments like rental properties, dividend stocks, royalties, or covered calls, generate earnings with minimal active involvement.
After watching this video, you'll better understand real passive income ideas for your financial future.
Show Notes:
0:00 Intro
1:41 Income
3:43 Rents
4:40 Royalties
5:52 Interest
6:44 Dividends
9:24 STCG
11:09 Overview
11:51 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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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#passiveincome #stocks #realestateinvesting

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9 май 2024

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Комментарии : 268   
@TobyMathis
@TobyMathis 4 месяца назад
Claim Your FREE 45-minute consultation to receive business planning tips and asset protection. 👉 aba.link/8dv
@manjus927
@manjus927 5 месяцев назад
Thanks Toby, for a great video. My favorite income is dividends and rents
@LorelieFriedheim
@LorelieFriedheim 3 месяца назад
This has been the most helpful summary on passive income. It was concise and to the point. Thank you!!
@frankinfante791
@frankinfante791 5 месяцев назад
I’m in all five income sources plus pension income. I retired at 59 and don’t regret a second. My favourite income source is dividends, especially dividends that grow every year. The regret I have is that I didn’t start this strategy when I was very young. Had I started earlier I could have retired at 40.
@mrbeastt4682
@mrbeastt4682 5 месяцев назад
What companies did you invest in?
@nospamman4443
@nospamman4443 5 месяцев назад
when did you start?
@mrbeastt4682
@mrbeastt4682 5 месяцев назад
@nospamman4443 for me I started taking it seriously last year
@nospamman4443
@nospamman4443 5 месяцев назад
@@mrbeastt4682 Good on you dude! I'm about to get into my first short term rental property to help fun my acreage development. I want out of the matrix as early as or before OPs age 😄
@edward679
@edward679 4 месяца назад
I invest in EFC for the monthly dividends.
@Zee06
@Zee06 5 месяцев назад
W2 employee here, with 1099 side income. I also have dividends and interest payments as well. Plus, a few growth stocks that don’t pay dividends, but I can sell eventually and buy more dividend stocks or add to current positions.
@davidbrooks8809
@davidbrooks8809 4 месяца назад
You do know that dividends is not extra money
@springnice8207
@springnice8207 5 месяцев назад
thank you. Rent is my favorite income.
@edlauren9434
@edlauren9434 2 месяца назад
I am an HVAC/Refrigeration contractor. I work pretty much every day,, no weekends or OFFs. Its obvious that I am doing something wrong; I work 12-14 hours everyday, I have customers signing in a waiting line simply because I cannot help everyone... But, I am still pretty much don't have savings for retirement and this contractor's job is the only income I've got. Thank you for your videos. I will turn my head towards passive incomes now. I've got massive experience with rental properties.maintenance and repairs for other people. I guess, it's the time for me to get my own rentals.
@TobyMathis
@TobyMathis 2 месяца назад
Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/taptoby
@raemer1495
@raemer1495 4 месяца назад
im finally getting rich now thanks for this huge advice
@CaseyEberhart
@CaseyEberhart 3 месяца назад
1st time seeing one of your videos and I am hooked! I love the simplicity. I have been an investor in all of these types and sometimes get sucked into shiny objects, *this video has inspired me to adjust my overall portfolio!*
@lovinsmurff24
@lovinsmurff24 5 месяцев назад
Rent is my favorite thank you for the information you are a wonderful person and very much God's send 🙏 I am learning a lot of info coming from you 😊 u are a good professor.
@TobyMathis
@TobyMathis 5 месяцев назад
I'm glad you find the information helpful =)
@bilalprinceali
@bilalprinceali 3 месяца назад
I’m 35 and I just tapped into 4 of these incomes over past 3 years. Feels like I’m the right track. Just need to keep saving and scaling.
@TobyMathis
@TobyMathis 3 месяца назад
Keep up the great work and keep saving and scaling!
@Mr-sweeny
@Mr-sweeny 5 месяцев назад
I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom
@TobyMathis
@TobyMathis 4 месяца назад
Thank you. I appreciate that more than you may realize.
@topsolutionsinc9371
@topsolutionsinc9371 5 месяцев назад
Eight streams into the Ocean 🌊 🔑😎
@maruhdez4783
@maruhdez4783 2 месяца назад
Hi Tobi. Is it a book you recommend to learn how to sell cover calls?
@Celestialkarma
@Celestialkarma 4 месяца назад
Absolutely great input Keep going God bless
@TobyMathis
@TobyMathis 4 месяца назад
Much appreciated
@Mukundpawar44
@Mukundpawar44 4 месяца назад
Your video is really interesting and very helpful. I really liked the content. Please make video on Dividend Aristocrat stocks. This is Mukund Pawar from Mumbai,India. Thank you! Toby Mathis for such a wonderful video.
@TobyMathis
@TobyMathis 4 месяца назад
Noted
@found_treasures831
@found_treasures831 3 месяца назад
Dividends, particularly from undervalued REIT's.
@jasminehu64
@jasminehu64 5 месяцев назад
Rents, royalties, interest,dividends,short term tax gain
@topsolutionsinc9371
@topsolutionsinc9371 5 месяцев назад
Toby you kick ass brother; Thank you.
@TobyMathis
@TobyMathis 5 месяцев назад
thanks for the support!
@Chiefkahuna2
@Chiefkahuna2 5 месяцев назад
My favorite is: finding a small cap stock, that has no institutional investors. But has a formed base. And fluctuates 5-10% a day. And before it breaks out, I start buying it at a low. And wait 2-3 days. And when it goes up to it's normal high, I sell it.
@andrewashkar4854
@andrewashkar4854 5 месяцев назад
Toby, I recently was sworn into the Massachusetts bar. I loved learning about tax in law school, but sadly never took estates. Now, I'm starting out as a solo estate and tax planning attorney, and I find your videos so informative! Thank you so much for producing such cogent and concise videos! I'll certainly share with colleagues
@TobyMathis
@TobyMathis 5 месяцев назад
Congrats on joining the profession. Best of luck as you build your practice. My experience is that the more you give the more you receive:-) Be a giver and you will do awesome.
@dasfahrer8187
@dasfahrer8187 2 месяца назад
Great info (albeit very quiet).
@greekbarrios
@greekbarrios 5 месяцев назад
I like to have SCHD. 20% of each ROTH IRA Portfolio. Yield: 3.75%60% SPY20% Various Income Funds, PFF, ILTB, TLT.......What are more interesting buys to grow and safeguard $300k for 6 years? Real estate or maybe Gold
@blaquopaque
@blaquopaque 5 месяцев назад
in my opinion, I think you're better off discussing with a proper advisor to help create a basket of securities in order to achieve growth with your capital if you're thinking long term
@LisaJean777
@LisaJean777 4 месяца назад
I know you cater to a certain financial group, but I am in a different financial group and would like to utilize your strategies and information. My question is, how can I begin to create wealth being low income and 67 years old? I have accounting background but was a single mom. Now I am trying to build something for myself and something to leave my children and grandchildren. Any advice, videos on this, or direction? Thank you so much for all I am learning from you!
@TobyMathis
@TobyMathis 4 месяца назад
I recommend joining our free Infinity Investing Workshop, where we cover various strategies tailored to different financial backgrounds. It's an excellent opportunity to explore avenues for wealth creation and receive personalized advice from our experts. Visit: inf.link/g5x
@terrancepinkney777
@terrancepinkney777 5 месяцев назад
I have future plans for rental income but right now I have W-2, dividend and residual income from a past business.
@TobyMathis
@TobyMathis 5 месяцев назад
That's great that you have multiple streams of income. Best of luck with your future investments.
@ErikaMoonOfficiel
@ErikaMoonOfficiel Месяц назад
I did very well in what we call "swing trading" for 2023 but i was not educated on taxes, and i got bad surprises for my taxes 2023 that i am currently filling. I am looking for to incorporate this week. I am a 1099 with my other business, never thought that you coud incorporate trading. Thank you for the "Ah Ah" i am looking for to learn more and more from you :)
@davesteffensmeier8536
@davesteffensmeier8536 Месяц назад
Thanks for sharing the secrets of the rich from your experience.
@willmallory9085
@willmallory9085 5 месяцев назад
Excellent video Brother
@TobyMathis
@TobyMathis 5 месяцев назад
Many many thanks!
@asphaltandtacos
@asphaltandtacos 4 месяца назад
Dividend stocks, interest and real estate are great cash flow assets. Real estate does require more capital which may not be suitable for some investors. I am looking at JEPI for monthly income and would like to hear your thoughts on that fund.
@TobyMathis
@TobyMathis 4 месяца назад
I wish nothing but great success on your investing journey!
@counterleo
@counterleo 4 месяца назад
There is fractional real estate. For as low as $50 you can buy shares in LLCs that own fully managed rental properties and pay rent as dividends.
@community1854
@community1854 5 месяцев назад
Amazing..
@ddubsr5886
@ddubsr5886 5 месяцев назад
Please do a more comprehensive guide on selling covered calls for a novice.
@OkieSilverDude
@OkieSilverDude 4 месяца назад
You are blowing my mind dude. I've been buying dividend aristocrats lately. I think the next step is setting up structures for the next moves. Interesting stuff. My side hustle has outgrown my day job. Legal cannabis industry. I'll probably reach out in coming weeks. thanks.
@TobyMathis
@TobyMathis 4 месяца назад
I'm thrilled to hear that you've been finding value in my videos. It sounds like you're making some smart investment moves with dividend aristocrats.
@chrislandreman8537
@chrislandreman8537 2 месяца назад
Thanks! Great video. I have a few questions. First, I am 47 I work the government and I have a pension as well as deferred comp account (Roth) I was also in the military and get money from my service each month. I have been investing for 15 years so I have a decent amount. My question is since I have all of this built, would you suggest I just continue with the deferred comp and pension or add a reit etc? Since I have a decent amount close to 100,000 in my deferred comp would you suggest I just stick with what I'm doing since it's already built and build on the 100 or start over with something like a reit? I put 600 a month into my deferred comp already. Plus another 500 a month in my pension is invested for me. I have 10,000 in crypto as well. Any help would be appreciated! So add to deferred comp or add other stuff?? Thanks!!
@TobyMathis
@TobyMathis 2 месяца назад
Thank you for your question and I appreciate you supporting my video! To get a comprehensive answer tailored to your specific situation, I recommend attending our Infinity Investing Workshop. Sign up here: inf.link/g5x
@margaretchen6924
@margaretchen6924 25 дней назад
You are a genius! You provide helpful advice and present your points clearly. Thank you! My favorite passive income is dividends because it's virtually effortless.
@TobyMathis
@TobyMathis 23 дня назад
Thank you so much for your kind words! I'm glad you find the advice helpful.
@teeroj
@teeroj 5 месяцев назад
Monthly Cash Flow In Order of Priority/Income: 1) Rents from automated/unmanned self-storage facility 2) Residential rent 3) Small business that cash flows well off of just a few hours a week 4) Commercial RE fund 5) Interest: TBills, iBonds, Savings currently averaging 5% 6) Physical metals 7) Stock w/annual dividend payout
@namhamada3984
@namhamada3984 4 месяца назад
Love dividends pay out
@EIStudent
@EIStudent 5 месяцев назад
The heck with the like button! Where's the ❤ button? Interest and dividend income seem to be the most attractive. However I think STCG could be a way to build the other passive income streams. Great content!
@TheDemonicDeity
@TheDemonicDeity 2 месяца назад
I realized how crazy the real estate market has become recently. I work in longboat key so there are some really nice houses there, I was curious as to how much they were worth. I looked up one house that was sold for $850k in 98 and now it’s on the market for $10mil that’s insane but, I feel like there’s no entry for that kind of stuff anymore. if you’re in it you’re in it and it’s a much tougher market to get into than back then
@RegulusVi
@RegulusVi 5 месяцев назад
Besides revenue from work, dividends from stocks. I must learn more about covered calls, because heard a lot of good comments on this. Rents are good, but not for everyone, so I invest in REITS instead.
@darrenmassey3176
@darrenmassey3176 5 месяцев назад
I like RIETS also though only invest in private REITs. Plus like investing in land development projects.
@billphilpott3787
@billphilpott3787 5 месяцев назад
Thanks for the concise video!
@MrJerrellCollinsJr
@MrJerrellCollinsJr 5 месяцев назад
Toby, my favorite income out of the five is dividends because it can two in one in regards to being a capital gains opportunity as well of the stock goes up.
@TobyMathis
@TobyMathis 5 месяцев назад
Dividends are like the cherry on top of the stock market sundae!
@user-qw3jj4fl9d
@user-qw3jj4fl9d 4 месяца назад
Any courses that you know of that teaches this orrr well and or do we have to know this to be able to ask for it at Anderson Law? I want it all but I don't always know what to ask for so I hope its recommended as it's helped being put in place. Looking forward to the nonprofit workshop today.
@TobyMathis
@TobyMathis 4 месяца назад
I highly recommend you attend our FREE Infinity Investing Workshop. We teach various passive income strategies for long-term growth. Visit: inf.link/g5x
@trickyfingers
@trickyfingers 5 месяцев назад
How about double tax free municipal bonds?
@dayaparthasarathy9799
@dayaparthasarathy9799 4 месяца назад
Toby, I became a big fan of your content. I have a question if you pass on your real estate the heir will inherit at step up basis, What about the Stocks in my regular trading account. would the same treatment applies their? Thanks DP
@TobyMathis
@TobyMathis 4 месяца назад
You are correct - capital assets such as real estate and stocks receive a step up in basis upon your passing.
@dayaparthasarathy9799
@dayaparthasarathy9799 4 месяца назад
Thank you for your kind reply@@TobyMathis
@jayzechab
@jayzechab 5 месяцев назад
How do you invest in royalties? Do you put some REITs in rental? Buying and managing a rental is not always possible
@TobyMathis
@TobyMathis 5 месяцев назад
Great question. To explore this further and discover alternative investment options like REITs, I invite you to attend our free Infinity Investing Workshop. It's an excellent opportunity to delve into various investment avenues and learn how to diversify your portfolio effectively. inf.link/g5x
@user-dc1ob6eb7t
@user-dc1ob6eb7t 4 месяца назад
Toby, do you recommend holding dividend stocks in an IRA, taxable brokerage account, both, neither...does it matter?
@TobyMathis
@TobyMathis 4 месяца назад
It does matter - but not a ton because dividends are taxed at the favorable long term gain rates (0, 15, 20%). If you are MFJ and below $90k in AGI, I would own individually as the dividend rate is likely 0%:-) If you are higher income, I like deferred revenue accounts to avoid any taxes for a long period of time. Sorry to give you the "it depends" answer, but it really does depend.
@user-dc1ob6eb7t
@user-dc1ob6eb7t 4 месяца назад
@@TobyMathis thanks! Great content as always
@jerrystewart7080
@jerrystewart7080 2 месяца назад
Have W2, Rent, interest. Question about dividends. In looking at dividend mutual funds they perform much lower than my current portfolio. Trying to understand why to diversify into dividend funds.
@4dscdriver
@4dscdriver 2 месяца назад
Some of the dividend etf's have really good performance on total return over 10 yrs. SCHD is one of the best at it.
@sunilkalla736
@sunilkalla736 3 месяца назад
Great job 🎉
@TobyMathis
@TobyMathis 3 месяца назад
Thank you! 😁
@jasmineishii1910
@jasmineishii1910 Месяц назад
Rents dividends interest ❤
@aureum_
@aureum_ 2 месяца назад
real estate isn't passive but from what I've heard it seems to be worth it
@Falanu
@Falanu 3 месяца назад
I have w2, about to start rents, and some dividends. I was also the responsible one in my peers and would loan buddies so interest here and there
@TobyMathis
@TobyMathis 3 месяца назад
Keep up the good work!
@nappozulp4199
@nappozulp4199 5 месяцев назад
The problem with covered calls is that they don’t work in a bull market, particularly when the market really pops as it recently did. You would have been much better off not selling the calls.
@dubejuggling
@dubejuggling 4 месяца назад
You are correct. In fact, long term, selling covered calls is a losing strategy over buy and hold. The lost opportunity when the market runs up (and it always does) is greater than the income selling calls.
@williamfogler2720
@williamfogler2720 4 месяца назад
Selling covered calls works even in a bull market. You simply roll your position forward to a future date and get paid again to do so… often for a higher premium than you received initially.
@user-gi6jn2jf2c
@user-gi6jn2jf2c 2 месяца назад
Very interesting, and he is easy to understand. Thank you.
@TobyMathis
@TobyMathis 2 месяца назад
Glad it was helpful!
@uygarbaksi
@uygarbaksi 2 месяца назад
dividends seem most practical to me.
@ShermanRagland
@ShermanRagland 2 месяца назад
Toby, talk to us about hotels. Looking at taking one of our apartments and converting two floors to short term rentals…
@TobyMathis
@TobyMathis 2 месяца назад
I'll keep that in mind for future videos
@darrenmassey3176
@darrenmassey3176 5 месяцев назад
My bet is the rich are investing more in private investments then public investments. I kinda like 60% private & 40% public investments.
@ELconomics
@ELconomics 5 месяцев назад
Coach Toby great video..my favorite income is mortgage notes
@TobyMathis
@TobyMathis 4 месяца назад
Love it. Where do you find your notes?
@markharrison8413
@markharrison8413 5 месяцев назад
Love rent and dividends the covered call I need to figure out
@pdxway
@pdxway 4 месяца назад
Selling cash secured puts can work too....
@KDAirman
@KDAirman 4 месяца назад
I investing in gold and silver trust and mining reits global and treasures bonds and banks and S&p 500 indexes and other ETF dividends on top of traditional and Roth IRA full and fractions stock plus physical holding silver and gold and numismatics coins
@KDAirman
@KDAirman 2 месяца назад
I also just invest in my 1st Royalty income streams
@motomania128
@motomania128 2 месяца назад
Are dividends from VALE, the Brazilian mining company, qualified?
@jjdelamo6246
@jjdelamo6246 2 месяца назад
I invested 100k in QYLD, a covered call ETF yielding 12% and it gives me $1,000/mo income. i also have 3 rental properties giving ne $4k/mo cash flow.
@TobyMathis
@TobyMathis 2 месяца назад
great work!
@godanielgo2972
@godanielgo2972 5 месяцев назад
I’m considered an investor. I pay 0% tax
@JesseWickline
@JesseWickline 5 месяцев назад
Love it and Sales for me specifically insurance restoration
@crowderscustomizing
@crowderscustomizing 3 месяца назад
you don't like growth or total stock market index funds?
@dannegussie4430
@dannegussie4430 5 месяцев назад
Rent is my favourite income. Your expertise is very best and of high value to me.
@nocturneowl2660
@nocturneowl2660 3 месяца назад
Great video 😊
@TobyMathis
@TobyMathis 3 месяца назад
Thanks for watching
@nightdipper5178
@nightdipper5178 5 месяцев назад
Rentals #1, it's what we know, so it is best for us. Money in the market is managed and has done well but any dividends are reinvested. We also have W2. We can comfortably live on the rental income at this point.
@myllamaMan
@myllamaMan 5 месяцев назад
How much did you put down to start with? Or did you buy them in cash
@nightdipper5178
@nightdipper5178 5 месяцев назад
@@myllamaMan 1st one was one we had lived in, and was financed. All the others were cash. Once you have 5 free and clear, it generates enough to purchase another like property every 2 years. The issue then, is finding good rentals to purchase.
@10317
@10317 5 месяцев назад
Night dipper I totally agree with you and I have done the same thing with my rental properties. The first one was the hardest but once it was paid I built another and then when it was paid I built another. Real estate is what I know and understand and where my talent is.
@ayhandiker9167
@ayhandiker9167 2 месяца назад
Great
@n5378fdk
@n5378fdk 5 месяцев назад
Great video! I DCA in AQ384J already, Patiently waiting for the Moon time!
@GeoffsCornerOffice
@GeoffsCornerOffice 5 месяцев назад
Good stuff, Toby - I'm looking to build dividend income and sell CC's myself
@DAVEO-ds2ib
@DAVEO-ds2ib 5 месяцев назад
What side are you on as AQ384J divides the wealthy from the poor?
@bluecollarbullionballer4269
@bluecollarbullionballer4269 5 месяцев назад
Divdens and selling options just love them.
@st.charlesofaberdeen154
@st.charlesofaberdeen154 4 месяца назад
Dividends.....cony🎉🎉🎉🎉
@jyothichennupati8152
@jyothichennupati8152 5 месяцев назад
Do you still do taxes? I would love to use you for my taxes Or could you recommend someone
@TobyMathis
@TobyMathis 5 месяцев назад
We'd be delighted to assist you with your taxes. To discuss your specific tax situation and explore the best strategies for your needs, we recommend scheduling a free strategy session. Click here to get started aba.link/8dv
@De-tw7by
@De-tw7by 5 месяцев назад
Divorce will kill everything. So never make women the top priority in life.
@soyourrealtor
@soyourrealtor 5 месяцев назад
Do you have a audio book of your own ? Man all your tips are great 👍
@TobyMathis
@TobyMathis 5 месяцев назад
I do have a physical book that might be helpful! "Infinity Investing: How The Rich Get Richer And How You Can Do The Same" aba.link/IIWbook
@soyourrealtor
@soyourrealtor 5 месяцев назад
@TobyMathis thank you I'm definitely order me a copy
@ghog15
@ghog15 5 месяцев назад
Options trading is fun and easy
@charpy2os
@charpy2os 5 месяцев назад
Do you do Canadian taxes?
@TobyMathis
@TobyMathis 4 месяца назад
I do not, but I have a colleague, Harv Mand, in Vancouver who is really good.
@charpy2os
@charpy2os 4 месяца назад
@@TobyMathis appreciate the reply! Thank you 🙏🏻
@NQuiz52
@NQuiz52 5 месяцев назад
Great content! I need some advice.
@AgaQuliyev-tq9sg
@AgaQuliyev-tq9sg 5 месяцев назад
Lets discuss the AQ384J guys. This is failproof and barely any asset can be labelled failproof at all.
@susanc1760
@susanc1760 5 месяцев назад
We have rentals, however, I love stocks especially when my stock is Nvidia which has increased 10000% 🎉🎉🎉😄😄😄🥂🥂🥂
@aFreeman0409
@aFreeman0409 5 месяцев назад
@8:11 - Sorry but dividends are taxable as ordinary income unless they're qualified dividends.
@TobyMathis
@TobyMathis 5 месяцев назад
Correct. Dividends from US corps are qualified and are taxed as long term capital gains. That is what I am specifying.
@ibrahimgumus5641
@ibrahimgumus5641 5 месяцев назад
Love the AQ384J content. I think this project is just as essential as HBAR and they both will be great movers
@nathaneulslavens4182
@nathaneulslavens4182 3 месяца назад
He said throw a few thousand dollars in prosper. What is prosper? I could throw some money in there now what’s the return on investment? How do I look it up? I just type in prosper online. It’s not gonna give me what he’s talking about I’m assuming.
@stevenbingham3061
@stevenbingham3061 5 месяцев назад
Toby, you started off by saying there are 8 types of income. What are those types of income?
@TobyMathis
@TobyMathis 5 месяцев назад
Wages, profits, rents, royalties, dividends, interest, short term capital gains, long term capital gains.
@destroya3303
@destroya3303 5 месяцев назад
Did they get rich using multiple streams or did they get rich and then diversify?
@TobyMathis
@TobyMathis 5 месяцев назад
My experience is they build multiple streams of income as they go. Studies that shown 90%+ of millionaires are made and that the top 3 professions who are millionaires are engineers, accountants and teachers. So the answer is pretty clear. They get rich investing in multiple streams of income.
@leodass
@leodass 5 месяцев назад
Good to see you again
@waterfoker8558
@waterfoker8558 Месяц назад
i understand all this and will get myself all these types of income. the ONLY thing i don't get is royalties... gimmie some examples. how do you depreciate it all in 1 year? doens't make sense
@Pantommime
@Pantommime 2 месяца назад
@ramblr5900
@ramblr5900 5 месяцев назад
First!!
@AverageDadSavesMoney
@AverageDadSavesMoney 5 месяцев назад
RIP Charlie Munger
@jayc4715
@jayc4715 5 месяцев назад
Me n Charlie Munger used to smoke dope together
@TobyMathis
@TobyMathis 5 месяцев назад
He will be deeply missed
@JoeGarcia-cg1pp
@JoeGarcia-cg1pp 5 месяцев назад
Was he a conservative folk or a liberal...?
@MsKerberos666
@MsKerberos666 4 месяца назад
Crypto staking anyone
@davidbrooks8809
@davidbrooks8809 4 месяца назад
😢
@RaadYacu
@RaadYacu 4 месяца назад
DIVO
@jrm2383
@jrm2383 2 месяца назад
More income, more taxes. Not against it, but l prefer making an extra 50k a year in the market doing nothing. Did the rental property thing and that’s a headache.
@Ride_on54
@Ride_on54 3 месяца назад
The main problem for me was this information wasn’t around when i was 30-40yo or easily available
@TobyMathis
@TobyMathis 3 месяца назад
I totally understand what you mean. But hey, better late than never, right?
@Ride_on54
@Ride_on54 3 месяца назад
@@TobyMathis I suppose but @56 lending is now a problem as far as buying property goes
@InvestingwithBishop
@InvestingwithBishop 3 месяца назад
Missing Bitcoin !
@Spider-Man-gz3mu
@Spider-Man-gz3mu 3 месяца назад
🤔
@MiriamMStone
@MiriamMStone 4 месяца назад
A dollar today is worth more than $5 tomorrow
@chrissharkey9644
@chrissharkey9644 5 месяцев назад
The constitution says taxation will be based on profit not income!
@TobyMathis
@TobyMathis 5 месяцев назад
Not true. The 16th Amendment was ratified on February 3, 1913, and it states “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census enumeration.”
@cryptotiger7780
@cryptotiger7780 5 месяцев назад
Great video. Lots of information. Thanks
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