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Leverage income is the best type of income you can develop for your financial growth and success. Money coming in from leverage income also flows continuously. This ladies and gentlemen is how leverage income can make people rich.

I’m going to provide you with leverage income ideas below so you can begin transforming your life this very day.

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What is leverage income?

Leverage income is income you earn multiple times for doing the work once. This type of income produces cash flow at all times.

Dan Lok refers to this type of income as F.U. money. Leverage income can come from royalties, leveraged blog views, or leveraged video views.

Below you will read ways people are earning leveraged income through the use of the internet. Scalability is key to maximizing your incomes potential.

The Power of Leverage Income

leverage income allows you to earn money for doing the work once — Nothing like earning money while you travel

Leverage income allows you to get paid multiple times for doing the work once.

This is how you get to enjoy your favorite trips knowing you’re making money no matter where you’re at, or what you’re doing at the time. This type of income is also passive income, only better.

And let me tell you, the feeling is amazing! Leverage income is the true path to financial freedom.

Imagine earning money in the background. That’s what this feels like. While most people only earn money by trading their time 8 hours a day, rich people figure out how to make money in their sleep.

Wealthy people make money 24/7

By now you might already be getting a grasp of how leverage income can make you rich.

It’s this concept of making money 24/7. The crazy thing is that nowadays there are a lot more ways to set yourself up for this type of lifestyle.

The key here is to scale valuable content online.

There are numerous ways from which you can provide value at scale online. Here are just a few:

Create a blog and monetize it with ads
Share video content on YouTube and monetize your videos with ads
Sell business tools online such as templates or spreadsheets
Start a podcast on Spotify and earn money per stream
Open a subscription based service

#1. Create a blog

Create a blog to earn leverage income — Earn leverage income blogging

Blogs allow you to earn money multiple times over. One blog post can earn you several hundred dollars when monetized and with enough viewers.

And this is with only one blog post! You can scale by increasing the number of blog posts you publish and number of readers you bring to your website.

You can start a blog today with as little as $3.95/mo. using Bluehost, the #1 webhost provider recommended by WordPress or with WIX for free.

Blogging has allowed me to earn money no matter where I go. Although growing my blog has been quite the challenge, I love every part of this journey.

Blogging might be for you if:

You absolutely love to write
You have skills and knowledge you need to share
The thought of running and creating a blog excites you

Read: Blog like a champ in 2021: Easy beginners guide

#2. Leverage YouTube views

If you love creating videos then YouTube can be a great platform for your leverage income project.

Like blogging, YouTube uses ads to monetize their content creators videos. People are earning passive income by only creating a piece of content once!

When your YouTube channel has been approved for ads, every piece of content you put out will begin to generate you passive income moving forward.

YouTube might be for you if:

You love being on screen
You’re extroverted and love to show your smile!
Feel you can engage with your audience more via. video

Millionaire YouTubers in my niche of personal finance include: Graham Stephen, Andrei Jikh, and Marko – WhiteBoard Finance.

#3. Sell business tools online

You can create a spreadsheet, PowerPoint presentation, or marketing templates that can be useful for startups.

People can purchase these products online prior to downloading them. If you manage to create something useful then expect to see online sales quite frequently.

The cool thing? You only had to create it once.

Selling business tools online might be for you if:

You have Excel, PowerPoint, or Word skills
Own a business and understand what your industry might need
Want to improve peoples workspace online

Where can I sell business tools online?

You can use platforms such as Fiverr and place yourself in a specific niche topic where people are looking for tools like what you have to offer.

People are using Fiverr to sell marketing tools, digital goods, and more!

#4. Start a podcast on Spotify

Spotify pays you per stream. Starting a podcast to earn leverage income is a no-brainer.

People are listening to podcasts now more than ever. Podcasts are super convenient to access information while on-the-go.

Grow your number of listeners to scale that project.

Podcast is for you if:

You love to interact and conversate with people
Have fun and feel comfortable with a mic
Your voice connects well with an audience

I personally like listening to Andy Frisella and Joe Rogan.

#5. Use a subscription based platform

Patreon is a platform that lets your most passionate fans support your creative work via monthly membership.

Patreon allows you to provide further value to your closest following. You can let your subscribers in on exclusive content for their support.

This monthly membership is a great way to earn leverage income while providing your followers with unique content only distributed to them.

I think everyone should use this once:

They’ve established a following in any venture
Your newsletter has grown
You’ve created exclusive content specifically for your subscribers

What is residual income?

Residual income, like leverage income, is income that you continue to receive after the completion of an income-producing job or project.

Residual income can also refer to the net income after all expenses are deducted from your personal finances.

This term is completely acceptable when discussing passive income that’s generated through leverage.

Residual income examples

Some residual income examples include:

Royalties
Real estate income
Money from consumer goods such as digital music streams and books

Musicians and artists

Musicians and artists earn residual income through streams. They get paid a royalty every month.

Independent artists can also earn money through their streams using a distributing service such as DistroKid.

Also read: How to distribute your music on all major platforms

Accumulating wealth has never been easier

A lot of these money-making projects are actually most people’s hobbies. This means setting yourself up to amass wealth has never bean easier.

With the proper platform you too can begin creating content and getting paid continuously for the value you provide.

You deserve to do what you love and get paid for it. That 9-5 isn’t part of your entire existence.

Amass a big audience for riches

At some point of your journey you’re going to make a penny online. Then two. Eventually, you’re going to make your first few dollars then hundred.

You’ll see that the key to obtaining riches online is to grow your audience no matter what your pursuit online is.

Leverage income flows abundantly when you amass a big audience. This is why there are bloggers and YouTubers making 5 and 6-figures per year and even per month! All it takes is time and absolute dedication.

Leverage income works best when scaled

Scaling your audience is key. Are you ready to take the first steps towards financial freedom? Let me know in the comments section below which way of earning leverage income best suits you!

For more like this, read: Earn passive income with these 5 guaranteed strategies

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A lot of you are inspired and motivated to take things to a higher level. By now you’ve realized that time is still on your side so you’re willing to take advantage of it. This is the single most responsible action you can take (especially in your early 20s) in order to achieve long-term financial success. Here are 6 proven strategies to building wealth at any age.

6 Strategies To Building Wealth At Any Age!

High Income Skill

Shift your focus on one source of income that will generate you enough cash flow to exceed your expenses. The goal is to earn as much as your abilities, skills, and knowledge allow you to so never stop learning. The value you bring to a company is the key to unlocking a high income skill. Find the average annual income in your country, now raise the bar for yourself and never settle for average. The higher your income is the more asset you have available as a tool to building wealth.

If you’re a business owner, keep selling!!! Increase your revenue so you may increase your income. Don’t take from the cookie jar if you have not increased your revenue.

Staying Debt Free

Staying debt free is an essential building block to building wealth. If you don’t have any debt at the moment you’re already one step ahead, now keep staying debt free. If you are in debt, begin planning to eliminate this burden as soon as possible. It will be a challenge and it will require discipline. Budget where you have to and apply the extra cashflow from you high income skill towards your debt. You will not be able to build wealth while in debt therefore this is a vital step.

Read: “Debt Sucks | Here’s How To Pay Off Thousands In Debt“

Live Below Your Means

Do not fall for lifestyle/income creep. This occurs when your expenses increase as your income increases. The mistake most people make is spending their entire income which results in living paycheck to paycheck. Live below your means in order to avoid this unnecessary stress.

If you’ve earned a promotion or you’ve increased your sales, don’t use this extra money to blow on increasing your standard of living or materialistic things; it can wait. This practice is called delayed gratification. Instead, use this additional money to save and invest.

Saving Money

If the heading of this third strategy made you feel a little uncomfortable we’re making progress. You’ll have to step out of your comfort zone every time you set a new goal for yourself. Put money in a money market or high yielding savings account. Your hard earned money will multiply through compound interest. I highly suggest reading “The Importance of Creating An Emergency Fund and How To Start” to see how saving money is essential to your financial journey.

By stacking up your Richards you are paying yourself first. You’re not giving your money to a,b,c, & d companies anymore. You’re give it to yourself! It’s what you do with this money that ultimately makes it worth setting it aside. Grant Cardone says money is useless unless you use it. So use it by making money work for you.

Investing Money

Now this is the fun part! You’ve established a high income skill and you’re living below your means debt free; now it’s time to put your money to work for you. Do your research like your life depends on it to see which form of investment is best for you. Do your homework and study this as it will require a high level of confidence to buy assets that will both increase and decrease in value depending on the markets performance.

Your assets are your wealth. The more assets and less liabilities you have the more your net worth increases. Stocks can yield enough annual percentage to duplicate your money over a long-term period of time resulting in more assets. The more money you invest, the higher the return. It is important to understand that money you have to invest must be money you’re willing to lose as well. All investments have some sort of risk factor whether it be low or high. For this reason, it is necessary to be out of debt. Any loss you face will be only but a small dent in your pocket. Here are some ways you can invest your money:

Stocks / Bonds
REIT’s (Real Estate Investment Trust)
Real Estate (Property)
Businesses (Partnering up with people – Be the capital people need in order to start a business in order to earn a percentage of the companies profit.)

Earn Passive Income

This sixth strategy towards building wealth is a fun challenge. Determine what niche can earn you passive income at all times no matter where you are in the world. Use your high income skill to continuously grow this stream of income in order to provide a consistent cash flow which you can also use to invest. Your business mindset might establish a couple of these resulting in multiple streams of income. As Grant Cardone says, success is taken, not received. Here are a number of ways you can earn passive income:

Rental Property (Real Estate, Property Owner, Airbnb, Storage Rental)
Money Market Account or High-Yield Savings Account
Paid-Out Dividends
YouTube (Monetized)
Blogging (Ads, Affiliate Programs, Courses, Product)
Business Partnership Contracts

For more details on these subjects read: Earn Passive Income With These 5 Guaranteed Strategies.

Be Consistent

Keep increasing your income and continue to invest over a long period of time. Take advantage of your age and think about where you want to be in the next 10-20 years from now because it starts with what you do today. As long as you keep increasing your income, saving & investing, and living below your mean, you will have the power to build wealth at any age in your lifetime.

Yes, building wealth takes time. Nothing great happens overnight. Building wealth is something you must continuously keep working on. Every challenge you encounter will require a better version of yourself in order to find solutions to the problems you face. Your habits, hard work, and financial discipline will determine the course of your financial future. Keep learning, keep innovating, keep making it happen. Your future self will thank you one day.

Tag: wealth building (Page 2 of 2)

How Can Leverage Income Make You Rich?