7 Income Streams To Build Wealth with Jade Warshaw
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- čas přidán 19. 06. 2024
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About this episode:
If you’ve got a full-time job, finding the time for a side hustle can feel impossible. In today’s video, Jade Warshaw and I share our favorite ways to make some extra money so you can create a new income stream without losing your current one.
Next Steps:
✏️ Side Hustle Quiz: ter.li/o8jixn
📖 Money’s Not a Math Problem: ter.li/6oroar
💸 Open a high-yield savings account and make your savings work harder for you. Check it out here: www.laurelroad.com/partnershi...
🎥 5 Side Hustles I Used to Build Wealth: • 5 Side Hustles I Used ...
📗 Order George Kamel’s new book, Breaking Free From Broke. bit.ly/48d7So4
Offers From Today's Sponsor:
This episode is sponsored by Tello, a mobile service plan designed to save you money. Go to www.tello.com/George for $5 off your first month of Tello’s unlimited data plan.
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Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach to you using their service?
Leticia Zavala Perkins, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
The Asian bling or display of wealth seems to be the most elaborate of all races. It's mind-blowing sometimes the extent they get to.
Absolutely! I mean, have you seen some of those mega yachts and private islands they own? It's like they're living in a whole different world.
And don't even get me started on their custom-made supercars and designer wardrobes. They definitely know how to flaunt their wealth.
Yeah, it's pretty impressive. But you know what's even more interesting? Most of these wealthy Asians have someone like Desiree Ruth Hoffman managing their portfolios.
Desiree Ruth Hoffman? Who's that?
DESIREE RUTH HOFFMAN she’s known for her assortment manager and holistic approach to financial planning of high-net-worth individuals , considering factors like income, expenses, and long-term goals. she's been making some serious waves in the industry
I want to get into the market now and ride it out until the economy improves, since inflation is currently at 3.70%. I'm assembling a $350,000 stock and exchange-traded fund (ETF) portfolio. Are there any suggestions you have that have good cash flow?
we shouldn't act on every forecast. It is best you speak with a market expert before making any investment decisions.
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
Hello thanks for your response, I'm curious to give this a try. Please who is your advisor and how do I get in touch?
Well, I chose Amber Dawn Brummit as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification.
I just found her webpage and read through her educational background and qualifications, which were all very impressive. So I scheduled a call with her.
I love all the Ramsey crew, but you have a way of making everything lighter. Totally enjoy all your content.
I'm 55 years and I retired at 51. I was able to do this because I understand four pricinciples of financial planning success think long term with goals and investing, spend less than you earn maintain liquidity (an emergency savings) minimize the use of debt
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investment...
Money invested is far better than money saved, when you invest it gives you an opportunity to increase your financial worth
It's remarkable how long term advantage people like us have gotten trying to be consistently not stupid, instead of trying to be very intelligent
The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that doesn't depend on government paycheck. Especially with the current economic crisis around the world , this is still a time to invest in Stocks, Forex and Digital currencies
I keep seeing how lots of people testify about how they make money from stocks, Forex and crypto currencies (BTC) and i wonder why i keep losing.. Can anyone help me out or at least advise me on what to do 🙏.
It's kind of weird that the Ramsey team always recommends "sell something" as a way to generate cash, but poo-poo's starting a reselling business as a viable way to earn a living. When my company closed during the pandemic, I started reselling my own stuff and only earned a few hundred dollars the first couple months. Then I started thrifting and built my own home-based business reselling clothes and home decor online. Now I earn more than I did working for a company, set my own schedule and love what I do!
The constant plugging of hustle culture is exhausting.
You ain’t hustling huh
I think they only push for it during debt payoff
So is being poor 😅😢
If available, go back to your old job and ask if they need help with anything. Easy side hustle money. As long as you left on good terms that is
I’m a flight attendant by trade, so I’m not sure how I could consult for my job, really. 😅 But I want to share what I’m currently working on as my side hustle!
I am coordinating my second wedding at the end of this month. I’m very organized and love weddings, and I actually really enjoy this! I don’t want to be a full-on wedding planner, but I love putting all the details together, talking to their vendors, and then just supervising the day and keeping everything on time!
I would think as a flight attendant you would develop a lot of people and organizational skills, so your side hustle benefits. Hopefully you don't get any major bridezillas.
@@timprussell Right! Unfortunately, I can’t just kick any unruly people off of the plane in the case of weddings, but I feel better trained for deescalating emotional situations because of my job! 😅 I only coordinate for friends right now; I’m going to be very picky with future clients for that reason!
Hospitality quick read. How to learn new languages (resources that you have used). Travel hacks.
Jade needs her own show!!!! My fav 😊
Loved seeing Jade again. The editors did a good job with the funny clips in this video. Also, it’s great to have sponsors that are relevant to the reasons people watch your content. I’ve been wondering where people get these 5% interest rates-it’s good to know now…
Hi George and Jade.
You two are my heroes.
January of 2023 you talked me out of selling a condo and moving my wife and baby in with my parents.
You showed me how I could be debt free in 2 years, 18 months if I was aggressive. Well we had another baby and went extreme since the beginning of the year. We are out of the hole with 3 months emergency expenses. We did end up selling the condo but we're renting in the town we work for less than our mortgage while stacking up cash to buy a house the right way
I just work as much overtime as possible.
Unfortunately that does not work for exempt employees ☹️
CZcams is my side hustle! Hoping to get it to the point that it helps us finish baby step 3b 🏠 loved all the ideas here!
You can do it!!! I'm 37 and just started youtube.😂
George and Jade!!! Love you both, thanks for sharing your stories and helping others. Y'all keep up the great work!!! - Love from TEXAS!!!
Catering in a big city like Nashville is pretty nice, just a few evenings a week (after your day job or Saturday's) for $30 an hour and you take home food that lasts for days (which is a lot of additional food savings)
For the last 3 years I’ve had co-hosting a podcast as my main side hustle, but since discovering Ramsey and being on Baby Step 2 I’ve also picked up part time work as a marketing specialist and being an editor for another podcast. My days are FILLED but the extra income has been amazing in helping me blast through Baby Step 2, and I also enjoy the side work!
hi! how did you start making enough from your podcast?
@@Nisha-td5cq we started a Patreon and have received great support from that. Additionally, we receive enough downloads to have sponsorships and dynamically inserted ads from our host platform Spreaker.
Translation/ interpretation can be a good side hustle.
You 2 are my fav personalities❤❤ enjoyed the Total Money Makeover Event this past weekend 🙏🙏❤️❤️
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 2.1BTC to a decent 15B TC in the space of a few weeks... I'm especially grateful to Whitney Eston, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..
She's often interacts on Telegrams, using the user-name...
@WhitneyEston
She's mostly interacts on Telegrams, using the user-name...
Love this video. I just started my business and this is giving me ideas. 😊
Be careful selling baked goods and other food products. If a customer gets sick from eating one of your items, you can be held liable. The days when you could make and sell food from a home kitchen without a license are gone. Food safety, sanitation, allergy prevention, food-borne illness awareness and other skills are essential. Probably not worth the risk for the average home cook.
i like your positivity and your energy
Baking products and making BBQ, etc. are all great - until you hit the health inspection and codes in many states. Some states do not allow products that weren't made onsite for health reasons. Catering is a way around this (or having the license), but is that really a side hustle now? Or is it just another job with inspections and regulations to follow?
In some states, they have cottage laws that are quite lenient.
In Silicon Valley, it's $25 minimum for one kiddo (NOT a baby) for at least a decade. I shit you not. When I first moved here, I hired a high school kid to babysit my gradeschooler exactly once. I could not believe the price they charged. We had to budget an extra $100 even for dinner and a movie. We eventually figured out that having "day dates" made better financial sense. We could schedule a half day of vacay with the boss. Then the hubby and I would drop the kid off at school in the morning. Enjoy an entire day with a wonderful romantic lunch, bottle of wine, and a quickie. Pick the kid up from school at the end of the day.
I'm umping little league games for my local league. It's anywhere from 20-60 per game depending on if you're the only ump, or if you are behind the plate or not. Not bad for a couple hours of work
And once the game ends
“You’re outta here!”
As an actual business consultant lol I cannot consult on the side. It is outline in my contract and employment as a conflict of interest. Most consultants even sign non competes to not go to work for competitors within a few years of leaving the company. That being said, I rent out the car I don’t use on Turo, sell anything and everything on Mercari, freelance resume writing (was an English major) and building out content and websites. But my real dream is to have a grilled cheese food truck. Don’t ask why. It just IS.
FYI the Federal Trade Commission just issued a final rule to ban noncompetes nationwide on April 24th. None of those contracts exist anymore.
You can open a shopify store, Etsy store etc but nobody knows you’re there unless you spend money on ads, which sucks up the profits, unless you’re selling big ticket items. I wouldn’t bother with digital products on Etsy. You’ll earn pence & then others start selling the same or similar bla bla. Plus there are people who have businesses on Etsy & the platform has just closed them without explanation. If it’s a side hustle, maybe ok but don’t think it can be something to rely on. But there are a few possibilities here.
I really appreciate the dedication in each video you post. Building a steady income is quite difficult for newbies. Thanks to Elizabeth Wesley for improving my portfolio. keep up with the good videos.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Elizabeth Wesley too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
Check your local ordinances to see if you need to rent a commercial kitchen or food truck to make food for sale.
Sold my AirBNB near Nashville and put the money in an HYSA instead. I make more than my profits from my AirBNB and no drama. Wish I had done it sooner.
That's nuts 😮
What are some options to get clients to make their websites?
Love Jade!
I think we should all pool a few bucks together and buy George some socks. The whole barefoot in shoes thing just clashes...and the glare coming off of his ankles...phew! It's alright now George, you drive a Tesla, you can afford a pair of socks. 😁
I have sold some things on ebay last couple years and am a lot better knowing what may have value my sales were well below 10.000 where supposedly ebay would send you a 1099 k when I filed taxes for my full time job was told I needed a 1099 c so did not file a 1099 don't know if I'm safe confused about the taxes and seems like a hassle if they are considering you a business owner would like to grow but if I do do I need a cpa ? Any advice
2:53
Jade's sounds a lot more time intensive than a side hustle - unless just brainstorming ideas.
Jade is so awesome…and she’s gorgeous 😍😍😍😍😍
George is there a way to book you for financial advice?
My two favorite personalities… other than Dave but he doesn’t count 🤣🤣🤣
Love jade!
You have to say WAHSHAW like Dave does
Haha I noticed that the other day!
“I only have two, George!!” 😂
Rather of relying on penny stocks, I wish to diversify my assets by investing in ETFs/index funds/mutual funds and stocks of corporations with stable cash flows. I received 350k from the selling of my El-Paso property. What should I do?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Right, a lot of folks downplay the role of advisors until being burnt by their emotions, no offense. During the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my portfolio has grown by 25% every quarter since Q3 2020.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
My CFA ’’ Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I retired early from a major airline recently, the flexibility of my schedule gave me opportunities for side hustles. I started helping Flight Attendants with their 401k’s (a lot of people don’t feel they are any good with money or just have no interest in rebalancing their 401k retirement investments)
I pay my mom the $15/hr family discount for babysitting. The sitters I saw online are minimum $25/hr. So we are saving a ton.
Is a high yield savings account really a side hustle? I would consider it a financial strategy but not a side hustle....
Just keep your money safe in the bank. I retired six years ago at 55 with $200K and never looked back. I still have a mortgage, car payment, and will be sending my son to college next year. I’m good.
Dude. Unless you have only 10k in yearly expenses or plan to die at 59. Your math ain't mathing.
I love you with Jade. Such a sweet personality she has. I just found you and I’m obsessing over your videos! I should be working on ways to make more money not in a chair watching your videos! 😂 Love them though!
The creepy smile at the intro 💀 “arming and disarming at the same time” 🤣
Poetic!
I think your dogsitter deserves more
I charge $180/night for pet sitting and more for multiple dogs😂
Thank you for listening to our feedback of adding more spongebob memes. Millennials and Gen Z everywhere rejoice.
I can, in fact, lick my elbow.
13:29
I think I’m paying $35/day for private school prek/daycare.
Where are her live shows & events? I don't juggle but let me consult wannabe jugglers.
You look kinda like a young Jeff Goldbloom lmao.
How old is Jada? ❤
How do most of you guys still make profit, even with the downturn of the economy and ever increasing life standards
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Mrs Nancy Williams Laplace
This is correct, Nancy's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started..
Nancy is considered a key Crypto Strategist with one of the best copy Trading Portfolios and also very active in the cryptocurrency space.
Please how can I reach out to her easily?
So dumb that she always says “hey we started by only making $30k of income” when that was a part time job and later on she was making over $200k which is what really got her out of debt. That’s like me saying I build everything I have now making only $15k a year when that was just my first job but now make $300k a year
That's where she started. She could have felt defeated. Instead she changed her reality.
@@Ksje90 sure but most people start that way but very few ever get the opportunity to even make that money. Sure part of it is motivation but part is also luck. The reason I have a problem with this is she doesn’t usually mention the second part and makes it sound like she got out of 500k worth of debt on $30k a year which is mathematically impossible and is basically trying to sell a false narrative. If she just said “I was in $500k of debt and was making over $200k a year and just lived frugally and was able to get out of it after a few years” I would have no problem with that
@whasian2007 I think what she is trying to relate is that you can start from a low income, and work your way up. The average person making 30k a year can definitely level up if they try.
@@Ksje90 yeah but there are a couple of problems with that. 1) she and her husband were only working 6 months out of the year so realistically they were making $60k a year if they didn’t take off 6 months a year. 2)sure the person making $30k a year can make more but what percentage of them can make more than $200k a year. By that same logic anyone can be the richest person in the world if they try but realistically it’s only gonna be one person
i would rather have an income pond, not streams. my TIME is invaluable.
don't make more, spend less. it's simple math. start out with this mind set
AND YOU WILL NEVER BE BROKE...
she was a dog trainer? never would hired a rookie.
you can end up with a ''damaged dog''. just sayin'.
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
I know this lady you just mentioned. She's really good with and on her job. She's helped a couple of families and individuals' finances
She is really a good investment advisor.
I was privileged to attend some of her seminars, that's how I started my crypto investment
I'm glad to write her tay I do hope she will help handle my paycheck properly☺️☺️☺️
Please who is this Mrs Sonia
$1500 for 3 sessions with a dog….👀😅
Perhaps a pit bull or mastiff with a naughty history?
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Trading in Bitcoin now is the wisest thing to do now especially beginner....
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
None of these categories apply to me!!!!!!!. I'm a 40 year old man who works at a chemical plant. I work 7am-3:30pm Monday-Saturday. I bring home 1000 to 1100 a week. My wife works 30 to 40 hours a week doing CNA (nursing) work. We don't combine our income 😢. We have 4 kids and no car😢. I once was an actor 🎬, I played college basketball 🏀
4 kids dude that's both your decisions
Looking for an answer, not a judgment!!!!...
Hey, I saw your other comment as well. Have you thought about online tutoring? I wish youtube had dms lol
Close the factory and don't make a 5th
Combine your income. If she's making another 3-6k per month you all aren't hurting too much. Get on the same page with your money and goals
Live the side hussle ideas; but as a professional dog trainer with a degree; science actually shows that Ceaser Milan utilizes old school techniques called punishment,& occasionally negative reinforcement. I would NEVER condone these techniques, if you google: burns, seizures, & long term bites as a result of those techniques’ chocke chains & shock collars. There are even you tube videos of people trying the collars at the lowest level,& jumping 5ft back in extreme pain.
I DO love you ebook& baking ideas however🤗
SIR, my house and 3 cars are paid for, yet, right now in my life I make $21,800 a year & I owe $20,000 in debt & $20,000 in attorney fees and bail bond fees for my son. SIR, I NEED MORE MONEY. I have an online store, but sales are slow and low. My work schedule, in sales, does not allow me to do a driving job. I have degrees, but no high paying skills. I would not go as far to say a High Yield Savings Account is a side hustle, but it does make more money than a 0.01% traditional savings account. If you have $1,000 in hysc at 5% that is $50. $10k @5% is $500 $100k @ 5% is $5,000. so not exactly a side hustle unless you have $100k in that high yield, you get shopping money at $10k with $500 return & you get school supply money at $1,000 with $50 return within 1 year.
Sell some cars and have your son pay you back
Side hustles are the greatest distraction from a strong spiritual life.
No, debt is
Easy to get out of debt when your hired help is 10 bucks a night 😂
I'm just looking for a way I can make more money without having to kill myself.
I can lick my elbow
Third
First
Second
@@32wolves77 third
just here to read the comments from the entitled brats who think they shouldn't have to work side hustles
If that's what you call "freedom".. 🤷♀️
I’m just here to read the comments from people who comment about the other people that think they know it all
I work two jobs and am constantly picking up small side gigs, so I'm not lazy. But its absolutely ridiculous in this economy that you have to work 2 and 3 jobs to be able to just make ends meet.
@@arthrodea I worked 3 jobs. You have to do what you have to do to get ahead.
@@freedomring3022 I hear you... My point is that it used to be you had the option of working an extra job to actually get ahead. Now people are working an extra job to keep from drowning.
George the goal keeper kamel