How I Build Wealth Through Passive Income | Joseph Carlson Ep. 170

Everyone has the dream of making money without working for it. For many people that dream becomes reality when they build their passive income over time through stocks or real estate. In this video I go over why I think passive income is so important and how I think everyone can build it.

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[JosephCarlsonShow]

Happy Friday everyone - be aware of the bots in the comment sections. They pretend to be me by taking my profile picture and having a similar username. I'm never going to want you to contact me through the comments on snapchat or cell phone!

[lisabarnes]

I’m 42 and my ultimate financial goal would be $4million in savings and a monthly passive income of $15, 000, I’ve got about $230k to put in the market and I’d love to know how I could make this goal happen by the time I turn 50.

[tinycomplexity]

Truly appreciate this channel. While the rest of the financial tubers are running around like headless chickens, I'm just here to buy and hold hehe...

[andred.]

2:40 - I think people mix up "Passive Income" with "Passive Portfolio".

There is no Passive Portfolio...all portfolios must be searched and cared for.

But passive income is not a myth.

[inea-fijourney]

Congrats on being about to hit $300k 🙋🏾‍♀️💪🏽🔥

[saulperalta]

you know what would be a great episode.. a break down of your income and how you invest a month/week and what would be consider a healthy amount to contribute to a portfolio

[rd]

Not going to lie, I really wanted to see that passive income from AAPL.

[angeldelis]

Thanks!! This is the type of content I am looking for.
It motivates me staying the course.
Started March 2020 with 4K. After DCA into my portfolio as much as I could now the value is 48K and passively receiving 120$ per month.
Baby steps. I’ll keep going.

[ZimrriGudino]

I started following you in March of 2020. I decided to go all in into creating a dividend portfolio in April of 2020. A read a book on dividend investing to expand my understanding a bit more. As in today I'm up 45% in my portfolio. I make biweekly contributions. I don't care if the market is up or down I keep investing. Why? Becuase I know understand the companies I'm putting my money into. Thanks Joseph for all the content you put up.

[thompsontank]

For those planning to buy crypto. It's more than that. Without risk management you might lose it all. It's advisable to speak to a mentor or an expert on this.

[sarahandre]

That is why depending on one source of income has never made any millionaire and earning check doesn't put you in Forbes. Thanks btw Joseph Carlson

[jacoblloyd]

TL;DR Joseph Carlson helps me stay confident in my portfolio because we think the same, but with different stocks/ETFs.
I don't know where I'd be without the invigorating pep talks every Joseph Carlson video is. @ 5:48, this inspiring, contagious, and genuine path to success is pouring out in many different ways. If Carlson's speech didn't do it for you like it does me, then this Q____ software looks like the next closest motivation for a viewer. What innovation could he possibly come out with next??

[carlosv.]

Active Investing when you are in charge of
of your investments. It could take hours of studiying, reading reports, news etc. or just few minutes, it depends of your style of managment.
Passive Investing when somebody else take care of your investments like mutual funds.
Both ways produce income or losses for you, it could be called pasive income or pasive losses.
Passive income could be bonds or saving accounts. In case of dividends it is variable it depends how much effort put on managing your investments related to.

[LocalGeezah]

The times 3 example of STORE is a bit skewed I'd say. You're painting it as if that happens often (comparing it to salary raises), but the dividend increases that much is mostly a function of STORE having a conservative first dividend which quickly doubled. Over the course of an established business, this is less likely to occur, so it paints an unfair picture for people unfamiliar with the matter (which it clearly looks like that's the people you're addressing). No hate just constructive criticism Joe! Loving the channel overall, been a big fan since a long time ago!

[Achimy]

Good stuff. I think just clarify to people, don't go solely for dividend paying stocks or funds. Dividends end up resulting in paying tax earlier than necessary, and can hinder returns long term (as tax is paid). If companies have buybacks or accumulate dividends within the fund, that's better, as the tax burden is not on the investor until selling or drawing down. Capital growth trumps all

[johnnychen]

I'm sure the people at Johnson, 3M and Microsoft knows how to "actively manage" much better than I do.

[jewellwalker]

Seeking instant result is not the way to go in the financial market and that is why most people FUD at every slight DIP or MANIPULATION by the these people, I am of the opinion have a long term goal of 1-2 years, don't be a weak hand and you will be satisfied with the result.

[AC-getr]

Hey Joe, quick question. Why don’t you own Blackrock? Imo, this is a high quality company with a wide moat with great dividend growth. Also, they will continue to benefit from secular trends such as ETF investing and asset management (Aladdin).

[investingwitha-aron]

Great video and I understand your views of dividend stocks. I just wanted to point out that Yes the dividend creates cash flow, but keep in mind that the stock price is reduced by this dividend. All in all, the stock value is the same before and after the dividend.

[Seedzification]

So to have passive income, you must already be wealthy. gotcha