At least he's being open and transparent about it, and he's honestly sharing the nature of his 7 income streams (and educating others about them). Would you feel better watching his video if he hid YouTube as one of his income sources? Or would you feel better watching his YouTube video if he didn't make any money from YouTube?
0:56 - Day Job I have been working as a programmer for 10 years. Because technology evolves quickly, what I learnt today may be obsolete by next year, eg Flash and PHP. In the past, I have worked for one of Singapore’s game company, creating games like Social Life and Chrono Clash. According to PayScale, a programmer’s pay is around SGD4300 a month.
2:22 - Investment Every month I’ll take around USD5k and just dollar cost average into my investments. Then let it grow over the long term. I don’t time the market because time in the market is better than timing the market, so I just dollar cost average. I have a portfolio of 90% stocks and 10% cryptos. The portfolio hasn’t changed much since my last portfolio video 1 year ago. The biggest difference is I have sold my dividend stocks to move to US stocks for growth.
3:37 - Options I started selling options to generate consistent income this year. The options strategies are known as covered call and cash covered put. I’m earning anywhere around USD3k to USD5k every month through options.
5:12 - Savings Accounts I earn interest from cash savings account and crypto savings account. For cash savings account, the interest is quite low nowadays. I am putting my 6 months emergency savings and money that’s ready for investing into DBS Multiplier, earning only around 0.4%, or $3 a month. I’m considering to move these cash savings elsewhere to earn higher interest, possibly Syfe Cash+ where I can earn around 1.5%.
For my crypto savings account, I was putting my cryptos in BlockFI previously, but later moved to Hodlnaut after BlockFI reduced their interest rates. Hodlnaut gives 6.2% for BTC and 6.7% for ETH. I have around USD10k of cryptos and is earning USD50 interest every month.
I understand the saying, “not your keys, not your cryptos”. By putting my cryptos in Hodlnaut, I’m risking my cryptos getting stolen or Hodlnaut runs away with my cryptos. But because it’s a relatively small amount, I’m ok with risking it to earn 6% interest. I’m also considering putting my cryptos into DEFI as suggested by you guys.
7:02 - YouTube AdSense I also run a YouTube channel since 2020. Doing YouTube requires a lot of effort. A 10 minute video takes around 12 hours to make. But I feel the hardest part is to post consistently every week without fail. If you can post videos every week and improve your videos bit by bit, you will stand a good chance to succeed in YouTube. For June, I earned around SGD2.8k from YouTube. It’s not so much about the money, but it’s more about sharing the knowledge with you guys to become better at investing and finance.
8:55 - Affiliate link is where I post a referral link to a service or product. And if you sign up or buy the product with that link, I get to earn a small commission. The good part is there’s no extra work to be done other than just copy and pasting the link in the description. I usually won’t ask you to sign up, and I’ll only promote stuff which I personally trust. In June, I earned around SGD10k from affiliate links, which is huge but is not sustainable as the companies can just reduce the commission anytime.
10:13 - Sponsorships are where people offer me money to talk about their services and products, typically for 30 seconds or 1 minute in the video. As usual, I’ll reject sponsorships which I don’t trust, easily earning lesser $50K a year. For June, the amount I earned from sponsorships, is around $100 - $1k.