Millionaire EXPLAINS: 3 Passive Income Accounts For Beginners

In this video, I talk about the three accounts to open for passive income:

2. Dividend-Paying Portfolio
3. Covered Call (Wheel) Portfolio

Transparently, these accounts will take some time to build. However, it's important that we start planting our acorns and water our plants as early and often as possible.

True wealth comes from being patient and disciplined, which are characteristics that I had to learn to develop over the course of my journey to financial freedom.

I hope this video brings value to you and encourages you to start saving and investing!

Let me know if you have any questions! Thanks again for supporting my channel. :)

-Steve

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[leondonald]

Newbies need to learn the ropes, know how much risk they can handle and diversify their portfolio. Some folks get help from money experts or do their homework before making investment moves. It's all about being smart with your funds.

[Greggsberdard]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $130k of my savings in stocks this year, and I hope I make profits.

[DonaldMark-nese]

Everyone’s been preaching investing lately as a source of passive income but with a 70 hour  weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every YouTube video saying BUY BUY! But when and how do I sell for profit at the right time?

[sirheisenberg]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[lihuabenchen]

I am regretting not investing in stocks ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the stock market. What stocks should I look into as a newbie to safely grow my money

[danieltaylor--]

I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.

[Janetmartinez-ij]

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[EverlyndPerez]

I’m pretty young and just started my portfolio with around $80K. Dividends drew me in right away! Slowly trying to create significant passive income and manage my Stock Portfolio. how do I invest to deal with markets ups & downs

[ItsaJourney]

Scary!! I am loaded with high risk stock, and keep loading deeper and deeper! started with $35k made profit up to $46k and have lost it below $30k, my intentions are to add more capital, but really need some guidance before I lose it all

[Williamesq]

Dividends makes you Richer. I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals??

[TylerMohn-gl]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[tonyclampotte]

Well explained. Thanks for bringing up the videos financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.

[carlobolanos]

I started with about 15k now it's 40K in about 2 years, 100K here i come !

[priyankamahatma]

Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.

[ClarenceFerland]

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Brooke Miller.

[MesutMilleliri]

Investing in stocks could seem easy, but choosing the right stock without a tested plan might be difficult. For the longest time, I've been attempting to grow my $210, 000 portfolio, but the largest obstacle is the absence of a well-defined entrance and exit strategy. On this subject, any input would be really appreciated.

[agathacolleen]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.

[Sassycatsoapery]

Hi! I really appreciate your videos! I was not taught any of this and have felt overwhelmed trying to learn. Your videos are easy to follow and engaging! I’m playing catch-up at 54, but through vids like this, I am gaining confidence to start investing and I’m starting to see I just might be okay for retirement! Thank you!

[myriamkorstanje]

I’m so jazzed to have “ discovered” you. Literally at the time when I decided there has to be a reasonable way to start and ramp up my investing. Your educational style is spot on and you are making a difference in my life after just two videos! Thank you so much! I’m just getting started but want you to know that I’m subscribed and in for the long haul. 🎉

[primalpassion]

Great video! I think I'm going to open a HYSA account first. My questions is this: why would we want significantly more money in the Dividend paying account and Covered calls account? thanks Steve!