Investing

The 7 BEST Side Hustles To Start ASAP

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Here are the 7 income streams of millionaires, how to make passive income, and how to build your wealth – according to a study from the IRS. Enjoy! Add me on Instagram: GPStephan

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The first: EARNED INCOME from a paycheck.
This is where almost EVERYONE starts off, and it’s the equivalent of you working a “normal” 9-5 job, or being paid a salary, or working a commission as your main source of income. This type income is generally going to be your priority until…everything else starts making more money…

The SECOND source of income: DIVIDEND INCOME
This is probably the EASIEST “Second Income” source for nearly ANYONE watching to start literally RIGHT NOW. Here’s how that works: when you buy a stock, what you’re REALLY buying into a small ownership share of that company. Now that you own a small piece of the company by investing in their stock – some of those companies will pay you out a “dividend,” which is a fancy word for saying: they’re going to pay you a portion of their profits, because you own a small piece of their company by buying their stock.

The Third: CAPITAL GAINS.
This is what happens when you sell an investment for a profit – and when that happens, you’re taxed on “CAPITAL GAINS,” which is the difference in price between what you bought it for, and how much it was worth at the time you sold. This is ALSO another way you can make money by investing in stocks – because, unlike our second source of income – not ALL stocks pay dividends. Instead, many stocks are known as what’s called “Growth Stocks,” in the sense that what they DON’T pay as a dividend generally gets re-invested back into the company, thereby causing the stock price to go UP.

The Fourth: INTEREST INCOME.
This happens when you keep money in a high yield savings account, or basically ANY bank account that pays you even a remotely small amount of interest – chances are, at the end of the year, they issue you a 1099-INTEREST form with the amount of interest that you earn, so you can report that to the IRS.

The Fifth: RENTAL INCOME
For most people who want to invest and build wealth, real estate winds up having so many tax advantages that make it REALLY unique – and profitable – for anyone willing to put in the time, and within just ONE property, you could have MULTIPLE income sources. You also have the power to LEVERAGE your money here, where you borrow MOST of the money from the bank. You can also DEPRECIATE the value of the property against your rental income, thereby reducing your taxes.

The Sixth: PROFITS FROM A BUSINESS
Working on ANY type of side business, that has the potential to grow completely independent from your main job, is not only a good way to make more money – but also, diversify yourself iN CASE something happens to your job and you have nothing to fall back on.

The Seventh: Royalty Income
With this, you get paid a licensing fee for selling the rights to a product, service, song, or something that you’ve created. You can absolutely work to create something ONCE, that you can then continually re-sell in the future as long as people will buy it. I know it’s WAY easier said than done, but things like online programs, e-books, YouTube videos, or blogs can often be setup ONCE – and then – over time, you’ll continue to make money for as long as it exists.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

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27 Comments
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Robert Dunfee

27 Comments

  1. Luke
    July 17, 2021 at 4:52 pm

    What about money earned off post hair-transplant YouTube marketability? (Cough cough, nudge nudge)

  2. Fox's Den
    July 17, 2021 at 4:52 pm

    Come on, dude. Webull isn't free, their main source of income is Payment For Order Flow (PFOF). A hidden fee which rips traders off in the industry to a tune of around $1bn per annum. You might want to mention that to your viewers before telling them to go sign up for it.

  3. Tyler Johnson
    July 17, 2021 at 4:52 pm

    This guy is pretty sharp. I think he said hey Graham it's guys here just to boost video ranking by making more people comment on it.

  4. Dale
    July 17, 2021 at 4:52 pm

    "Just buy a multi-family property where you can live in one of the units and rent out the other units for cashflow"

    Ah yes… because most of us just have access to the million+ dollars required to buy such a property. Oh wait…

  5. HBK Edwin
    July 17, 2021 at 4:52 pm

    hey when you made all your side hustles did you focus on them one by one or did you go all out and out on them at the same time

  6. ThatSanginMan
    July 17, 2021 at 4:52 pm

    bro hearing you talk is like listening to a drum solo lol, good tips though

  7. Masha L
    July 17, 2021 at 4:52 pm

    What about billionaires ? How many sources of income do they have? Because that’s what I am planing on being.. you only got one life so I prefer to be a billionaire instead.

    And I even have a plan how I’m gonna do it. First I will become a millionaire then I invest that million and wait for that money to multiple hehehe

  8. FredRicks
    July 17, 2021 at 4:52 pm

    I usually watch videos like these on 2x speed. I suggest watching this part at 2x speed 0:43, thought it was pretty funny at that speed.

  9. Bitboy Crypto
    July 17, 2021 at 4:52 pm

    Nice strategy I must say. I didn't earn as
    Much as this video claim but I earn about 3250USD every week and I don't do that using video

  10. Christian Guerrero
    July 17, 2021 at 4:52 pm

    This guys voice is so annoying

  11. Lee Laray
    July 17, 2021 at 4:52 pm

    I tried to purchase stock on Webull but it says my buying power is insufficient, what exactly does that mean and can I fix it

  12. US Punjabi
    July 17, 2021 at 4:52 pm

    0:45 Well honestly you can figure it out the real percentage. 
    To make it 100% you would say its 47%, 32%, and 21%. 
    HOW?
    You just take the precent that would be mixed in from the first numbers. And then subtract it from the others, based on your example.

  13. Henry Kirk
    July 17, 2021 at 4:52 pm

    at what point do you decide you’ve mad enough money? seems like you have enough passive income to live comfortably for the rest of you life. so go live your life dude, you can stop working lol

  14. Kawntent YT
    July 17, 2021 at 4:52 pm

    "What's up Graham it's guys"

  15. Dyscyple
    July 17, 2021 at 4:52 pm

    FOR THE ALGORITHM

  16. CARLOS
    July 17, 2021 at 4:52 pm

    sad that webull isn't working in canada

  17. Steve Ponce
    July 17, 2021 at 4:52 pm

    3:06 Yea i've been getting paid with 𝗗𝗢𝗟𝗟𝗔𝗥𝗕𝗥𝗜𝗧𝗘.𝗖 𝗢 𝗠
    i made over $700 this week with them!

    είναι έα εραείο εσίας για ό

  18. Julia Nam
    July 17, 2021 at 4:52 pm

    This is the least informative video loaded with ads at every other sentence. The greed of this guy knows no bounds.

  19. Robert George
    July 17, 2021 at 4:52 pm

    Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result hard work and hustle over time. I pray that anyone who reads this will be successful in life.

  20. VinTech
    July 17, 2021 at 4:52 pm

    what he didn’t tell you is that he invested 10 cups of coffee for this video

  21. squirrelfreek
    July 17, 2021 at 4:52 pm

    He is saying stonks, lmfao

  22. Stormly715
    July 17, 2021 at 4:52 pm

    So borrowing from the bank means less tax but aren’t you in debt? Or owe the bank and once u pay that off do you still get tax then? Losing overall or?

  23. Robyn Sundelius
    July 17, 2021 at 4:52 pm

    Would you mind private video chatting me so I can set some consistency in my life

  24. Amellia Mendel
    July 17, 2021 at 4:52 pm

    9:44 wait what

  25. L Noah
    July 17, 2021 at 4:52 pm

    Royalty? hummm?

  26. MelodicTurtleMetal
    July 17, 2021 at 4:52 pm

    Oh man… This is levels of douche above what I can handle, even though it is very informative. It's this what you need to do to get views now?

  27. Tica Anderson
    July 17, 2021 at 4:52 pm

    What about taxes on house hacking? If you buy a home and live in it, but rent out the other rooms, do you have to tell the IRS?