As an investor, you try to make additional monthly income that comes your way. Your primary goal is typically to grow wealth through various investments, such as stocks, bonds, real estate, or other assets.
The need for monthly income varies from one investor to another based on their financial goals, risk tolerance, and stage of life. Some investors prioritize growth and are willing to forgo current income, while others prefer a more balanced approach that includes regular income.
Ultimately, seeking additional monthly income should align with your financial objectives and overall investment strategy.
At Buffett Online School, we also believe in investing in great companies you understand, and utilizing Free Investing Resources to help you start your financial freedom and investment journey is one of the best ways to learn.
Recently, Sean shared five ways to make an additional $1,000 monthly to help you generate more money and add to your investments. Let’s go find out what are those ways that can increase your earnings and add to your assets.
Ways To Earn Additional $ 1,000 Monthly
1. Write Put Options
The first method that Sean shares involves writing put options, which requires capital investment. This approach allows individuals to act as options writers, providing insurance against stock price declines and receiving premiums in return.
It involves understanding option values and the concept of time decay to generate consistent income over time. It's essential to limit losses and approach this method with caution. The idea of probability was emphasized as a critical consideration in investing.
Investors should ensure that their likelihood of winning exceeds 50% before engaging in any investment. Additionally, it's crucial to establish table limits for risk management, preventing significant losses that could wipe out an entire investment. You should avoid unrealistic expectations, and investors must recognize that there are no guaranteed methods for investing.
While this first method relies on capital, other methods suit individuals with less capital.
2. Offer Your Services
The second method for generating an additional monthly income of $1,000 involves offering your services. Selling services can be a practical way to achieve this goal, and it encompasses various avenues, including participating in paid surveys and utilizing platforms like Fiverr.com.
Paid surveys, while not lucrative, offer a legitimate means of earning money. Acknowledging that these surveys can be time-consuming and making a significant income from them may be challenging. Another route to explore is Fiverr.com, a platform where individuals can market their skills and services to a broad audience.
On Fiverr, users can offer graphic design, programming, digital marketing services, and more. Creating an account on the platform is a straightforward process. Once registered, individuals can promote their skills and talents to potential clients seeking various services.
Sean also shared a personal example of offering financial writing services on Fiverr, highlighting that some services, like content creation, can yield substantial earnings per assignment. Despite the presence of AI-driven content generators, many clients still value the expertise and personal touch that human service providers can offer.
Overall, the second method to earn an additional $1,000 per month involves selling services, with Fiverr.com being an accessible platform to showcase your skills and connect with potential clients. This method offers opportunities for you to leverage your expertise and meet the demands of clients seeking a diverse range of services.
3. Create Social Media Content
The third method for generating an extra monthly income of $1,000 involves creating social media content, particularly on platforms like YouTube. Sean provides a real-life example from his experience to demonstrate the potential for earnings. He mentions using Google AdSense as a revenue source from YouTube views.
He emphasizes that YouTube earnings are not consistent but can be substantial. He breaks down how payments are calculated based on views and advertising revenue per thousand views. For instance, if a video gets 1,000 views and the estimated earnings per thousand views are $3, the video would earn about $3. They explain that these earnings accumulate over time and are paid out monthly.
Additionally, Sean encourages individuals to create content on various topics, even seemingly simple ones, as they can gain substantial viewership. They share examples of videos that have garnered millions of views, such as a short video demonstrating how to open a door or an eight-hour loop of ocean sounds for relaxation.
He suggests that creating YouTube videos can be an accessible way to earn extra income. While becoming a successful YouTuber may require effort and learning the ropes, the potential for generating passive income through content creation is significant.
4. Develop Online Courses
The fourth method to generate a monthly income of $1,000 is to develop online courses. Sean is eager about this due to his belief in the transformative power of education. He expresses how he benefited from others who shared their knowledge through teaching, books, or videos. Therefore, he sees creating online courses as a means of imparting knowledge and earning income.
Sean emphasizes that anyone can teach a topic they are passionate about and believes that if they can offer value and structure their knowledge effectively, they deserve compensation. He also shares that he has created various online courses on investing and income generation, showcasing a market for such offerings.
To illustrate the viability of this method, he presents results from students who have sold their courses online, covering various topics. Sean also provides evidence of sales transactions and emphasizes the value of organizing knowledge systematically.
Sharing knowledge and highlighting the potential for generating income through your structured online courses is essential.
5. Creating a Membership Site
The fifth method to earn $1,000 monthly involves creating a membership site. This approach is related to online courses but focuses on offering recurring memberships for exclusive content or services.
Various platforms, such as Memberly and Teachable, can facilitate the setup of membership sites, and the feasibility of this approach becomes evident upon analyzing the math.
To illustrate, he breaks down the goal of earning $1,000 monthly. Set the monthly membership fee at around $50 if you offer fitness or cooking classes.
Even if you conducted these classes online, the value provided would still be substantial. For example, imagine running ten monthly workout sessions online, each costing $50. By attracting just 20 members to join your membership site, you would already achieve the target of earning $1,000 per month.
He highlights the importance of selecting a topic you are passionate about to make this venture sustainable. He also added that you can use Udemy to create free courses and generate leads for your membership site—moreover, the potential of both YouTube videos and YouTube Shorts for content creation and audience engagement.
Ultimately, the goal is to build a community of "Superhumanitarians," individuals who leverage their wealth and power for the betterment of the world.
Watch the full video of Sean Seah's live session on how to make additional $1000 per month.
Join Our Free 2-Day BOS Value Investing MBA
At the Buffett Online School, we believe in learning the right investing mindset and system to cultivate emotional detachment and grow our wealth safely and substantially in the long run.
Our next 2-day BOS MBA Value Investing Online Bootcamp is happening soon! We will teach you how to use Warren Buffett's proven investing method to maximize your portfolio.
Remember, you can cultivate the right investing mindset and unlock your potential to build wealth through intelligent investing. Together, we can create a network of educated investors who make informed decisions and contribute to their financial well-being!