 The economy situation seems to be a lot more challenging this year. Amid this rising inflation, you are wondering exactly how can you collect more passive income so that you can provide money for you and your family. Additional 4 bigger passive income per month, is that even possible? It's totally possible because that's what I have been doing for the past one year and I'm going to show you step by step how you can do that. Hi everyone, I'm Chloe here and welcome back to my channel. The only one place for you to learn about offshore stocks as well as wealth creation. If it's the first time of you coming to my channel, remember to hit the subscribe button as well as the notification bell so that you will not miss out any of my future updates. An early thumbs up is also appreciated because I will tell YouTube algorithm that you'll find this video helpful. In return, I will share with you 7 ways to create passive income, which has enabled me to generate more than $1000 per month to pay off a lot of my bills and to help me pursue the things I love, which is travel. And I've all started from zero and if I can do it, so can you. With that, let's go into passive income idea number 1, options. I have been using options for years to generate passive income from my stock portfolio. If you're a complete beginner, one of the best ways to get started is to use BOSS option strategy. By doing so, you lower down your risk by promising to buy stocks at the price that you want and in return, you get to collect passive income called premium. Just to clarify, the passive income that I'm referring here is different from capital gain. If you own 100 shares of Amazon and a stock price of Amazon showed up from $100 to more than $200, this is considered capital gain. But the problem with capital gain is it can disappear because the stock price fluctuates up and down every single day. However, if you have passive income, it will still come in regardless of the market condition. For example, when you do BOSS option strategy, which is selling a pool option, immediately you will get to collect premium, which is a guaranteed amount into your brokerage account. Depending on the market condition, you can generate about 1-5% per month through BOSS option strategy. And that's why for the past few months, I have been selling pool options on this ETF called SPYJ and every single month I get to collect about $100. If you want to learn more about this option strategy, you can check out the video right here. Passive income idea number 2, dividends. Apart from options, I also invest in dividend stocks to collect more passive income. What is dividend? It is the sum of money paid up by the company from its plain face to its shareholders. I typically like to buy companies with increasing dividend and increasing profits over the years. On top of that, it needs to have a reasonable payout ratio. What is payout ratio? It is the proportion of earnings paid out as dividend to its shareholders. If a payout ratio is more than 100%, that means the company is paying out dividend more than what it earns, which is definitely not sustainable in the long run. So when you are investing, you want to make sure that the payout ratio is within a reasonable range so that you can enjoy sustainable dividends from the company. Currently, I own a few dividend paying stocks such as Apple, Microsoft, Costco, TSM, and including SPYJ. However, all of them don't pay out a lot as dividend. So my passive income from dividend is only $100 per month. If you are interested in dividend investing and want me to do a more in-depth video on this, then make sure to comment dividend in the comment section below and I will do a video for you. Passive income idea 3, YouTube. Content creators like us can create passive income by just uploading videos onto YouTube and this is called monetization. The beautiful thing about monetization on YouTube is you just have to create this video one time. And if people continue to watch it on YouTube platform, it will continue to pay you a lifetime of passive income. Thanks to your support to my YouTube video, I've been creating about $100 per month in terms of passive income every single month. Of course, I'm still a small fry and I do hope to grow bigger over time. So that's why I would highly appreciate if you can give me a thumbs up to this video and I will make more content like this in the future. That aside, I heard many big YouTubers out there are making millions such as MrBeast.LowGao who is one of my bravest storytelling YouTuber. As you can see, there's so many different possibilities when you become a content creator. So ask yourself, if you want to create a YouTube channel, what kind of content do you want to produce? Passive income number four for affiliate marketing. Every day, advertisers are finding ways to reach out to more people through micro influencers like us. If you have certain form of following, you can even promote product and services to your followers. But very importantly, you should be promoting things that you truly believe in. For example, I've been helping Moomo to promote their property platform because I personally enjoy using it a lot. I find the platform contains a lot of information and insights that are useful to us as an investor. If you search for Tesla, immediately it tells you the revenue breakdown of the company. Business data is like the number of vehicles delivered. So it can really save us a lot of time when it comes to research process. So next time, if you encounter any services or products that you truly enjoy as a customer, you can search online and see whether they provide any form of affiliate marketing. For myself, I've been making about $500 per month through affiliate marketing, and that's why you never know. Maybe you'll be able to unlock yourself a few hundred to a few thousand dollars of passive income per month through affiliate marketing. By the way, right now, Moomo is also running certain promotions like giving you a free apple share when you find your account with $2,700. If you want to start investing and want to find a user-friendly platform to get started, do consider signing up Moomo through my link below. Passive income idea number five. Sponsorship. Once you achieve certain form of followings, advertisers also start to approach you for sponsorship opportunities. And you don't have to be a super big influencer to achieve it. All you need to have is a certain niche and an engaged following of a few thousand people. For me, apart from this YouTube channel, I also have a technical account as well as my Telegram channel where I constantly add value to my followers in the area of investing. That's why I will always receive emails from different sponsors asking me to sell products for them. However, most of the time, I will just reject because I don't find any synergy between their products and services at my channel. So whatever deals that I'm promoting is something that I truly believe in. And so far, have been receiving about $200 passive income per month through sponsorship. So if you also want to attract sponsors, then make sure you start generating content and become an online creator. Passive income idea number six. Online courses. Apart from promoting for other people, you can even consider promoting your own product. And in my opinion, the product that is most hassle-free and yet gives you the highest margin is your own online courses where people can pay and learn from you directly. But I know you must be thinking, oh, I know I expert, who am I to teach? But believe me, everyone has their own expertise. And it doesn't mean that you need to obtain master degree before you can teach. Just like your mom doesn't have to have a master degree to teach you about cooking, you can start teaching others as long as you are better than them. What you need to do is to have confidence in yourself and start branding yourself online. Show people what help you can offer to them. Keep on giving value that's when eventually they are willing to pay to learn from you. For example, through our investing courses, we have helped thousands and thousands of students to get started their investing journey. In the mountain, 15 people have become leaders next. If you also want to learn investing, you can also consider joining us in our upcoming three next level masterclass. All you need to do is to click on the link below to sign up for your free spot. Last but not least, passive income idea number 7 which is property investing. In 2021, I managed to purchase my first ever Singapore private property and this year when I collect the key, I intend to rent it out to collect more passive income. The last I heard, the area that I got can rent out over $4,000 per month just for a one bedroom studio. Wow, that's additional $4,000 per month. I wish these $4,000 would not be the actual cash flow that I will be receiving because I still need to pay out more digits. Hopefully, I can get to collect a few hundred dollars per month just by owning this property. So here are the 7 passive income ideas for 2023. And adding all of these together, I have about $1,000 passive income per month. What an achievement. Of course, this $1,000 goal is still very far away from the goal that I want to create for myself but nevertheless, it's still a great milestone because I started everything from zero. So as you are collecting more passive income, you should also celebrate your little successes so that you can make the whole journey even more enjoyable. And I truly believe, as long as you are willing to press on in this journey, you will eventually be able to create 4 figure, 5 figure to even 6 figures of passive income. I also want to use this chance to thank you for supporting my journey and my YouTube channel has just hit $5,000 subscribers. Every of your thumbs up and subscribe button counts and I hope that a small fry like me will eventually become a bigger fry in YouTube. With that, I wish you a wonderful 2023 and a prosperous new year ahead. See you in the next video.