Episode
#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
1:08:53
Published: Thu Nov 04 2021
Description
Ali Abdaal is a Doctor and a YouTuber. Money makes the world go round. After the last 12 months, everyone should have realised that relying on a single source of income is not a very antifragile way to construct a financial set up. Creating multiple revenue streams is a great way to de-risk yourself, and today we get to find out 12 of Ali's favourites. Expect to learn why the S&P500 almost always beats expert hedge fund managers, how Ali makes his money on YouTube, why Coinbase is great for crypto investing, the easiest way to create an online course, why houses are still a great investment idea, how to automate a business, the best and worst ways to make affiliate marketing money and much more... Sponsors: Join the Modern Wisdom Community to connect with me & other listeners - https://modernwisdom.locals.com/ Get 20% discount & free shipping on your Lawnmower 4.0 at https://www.manscaped.com/ (use code MODERNWISDOM) Get 15% discount on Craftd London’s jewellery at https://bit.ly/cdwisdom (use code MW15) Get 5 days unlimited access to Shortform for free at https://www.shortform.com/modernwisdom (discount automatically applied) Extra Stuff: Follow Ali on YouTube - https://www.youtube.com/user/Sepharoth64 Check out Ali's website - https://aliabdaal.com/ Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/ To support me on Patreon (thank you): https://www.patreon.com/modernwisdom - Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/ModernWisdomPodcast Email: https://chriswillx.com/contact/
Chapters
Ali Abdaal shares his insight on building a financial setup that is not reliant on a single source of income and creating wealth through smart investments.
00:00 - 01:47 (01:47)
Summary
Ali Abdaal shares his insight on building a financial setup that is not reliant on a single source of income and creating wealth through smart investments.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Shortform Superpowered Book Summaries are being advertised with an offer of free access for five days, followed by a 30% discount on an annual subscription.
01:47 - 06:34 (04:47)
Summary
Shortform Superpowered Book Summaries are being advertised with an offer of free access for five days, followed by a 30% discount on an annual subscription.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
The concept of eliminating the need to earn money to survive could allow individuals to live a more fulfilled life.
06:34 - 09:05 (02:30)
Summary
The concept of eliminating the need to earn money to survive could allow individuals to live a more fulfilled life. This could lead to more freedom and happiness in people's lives.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
The speaker discusses the role of passive income in achieving financial stability and the need for active income before transitioning to passive income.
09:05 - 12:43 (03:37)
Summary
The speaker discusses the role of passive income in achieving financial stability and the need for active income before transitioning to passive income. He highlights the difference between necessary income and income for a comfortable life.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Invest in a stock market index fund to avoid cherry-picking individual stocks and attempting to beat the market, both of which are difficult even for professional hedge fund managers.
12:43 - 18:11 (05:28)
Summary
Invest in a stock market index fund to avoid cherry-picking individual stocks and attempting to beat the market, both of which are difficult even for professional hedge fund managers.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Real estate is a good way of generating passive income through renting a property and receiving monthly rent.
18:11 - 23:28 (05:16)
Summary
Real estate is a good way of generating passive income through renting a property and receiving monthly rent. Unlike stocks, it does not fluctuate often, making it a good option for long-term investment.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Investing in property can be beneficial as it offers potential for increasing value and passive income through rent, and inflation can also work in favor of the buyer.
23:28 - 29:54 (06:25)
Summary
Investing in property can be beneficial as it offers potential for increasing value and passive income through rent, and inflation can also work in favor of the buyer. For those considering buy-to-let, self-management for the first year is advisable.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
The two broad ways of selling are either goods or services, while goods are tangible objects that can be sold, services are intangible and involve a provider performing an action for a customer in exchange for payment.
29:54 - 35:37 (05:42)
Summary
The two broad ways of selling are either goods or services, while goods are tangible objects that can be sold, services are intangible and involve a provider performing an action for a customer in exchange for payment.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
The podcast discusses the benefits and drawbacks of offering passive and cohort-based online courses as a way to offer in-depth instruction and transformation to students.
35:37 - 39:21 (03:44)
Summary
The podcast discusses the benefits and drawbacks of offering passive and cohort-based online courses as a way to offer in-depth instruction and transformation to students. It mentions platforms like Podia and Teachable that help content creators host and sell their courses online.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Building an organic audience through platforms like a podcast, YouTube or Instagram is important before launching a course.
39:21 - 45:36 (06:15)
Summary
Building an organic audience through platforms like a podcast, YouTube or Instagram is important before launching a course. Monetizing a small audience is most effective through coaching programs or live cohort courses.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Providing free valuable content before asking for a sale builds goodwill with potential customers and can increase likelihood of conversion.
45:36 - 53:03 (07:26)
Summary
Providing free valuable content before asking for a sale builds goodwill with potential customers and can increase likelihood of conversion. Affiliate programs can be a helpful tool in monetizing content and building a loyal customer base.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Building an email list is a crucial step in attracting and retaining an audience, especially in online marketing funnels.
53:03 - 56:08 (03:05)
Summary
Building an email list is a crucial step in attracting and retaining an audience, especially in online marketing funnels. Sending occasional product launch emails is a great way to leverage goodwill with your subscribers.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
Learn how to create your own membership site using Ghost, a website building platform similar to Patreon.
56:09 - 59:48 (03:39)
Summary
Learn how to create your own membership site using Ghost, a website building platform similar to Patreon.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
To scale your business, you need to automate and delegate its aspects.
59:49 - 1:07:56 (08:06)
Summary
To scale your business, you need to automate and delegate its aspects. Your own time is limited, and there are only so many customers you can handle.
Episode#393 - Ali Abdaal - 12 Simple Ideas To Earn Passive Income
PodcastModern Wisdom
The interviewee shares his YouTube channel in the video description, and the host provides discount codes and links to Manscaped, Crafted London, and ShortForm.
1:07:56 - 1:08:51 (00:55)
Summary
The interviewee shares his YouTube channel in the video description, and the host provides discount codes and links to Manscaped, Crafted London, and ShortForm.