 passive income What's up money geeks mr. V here welcome to another video guys into this video we're gonna be talking about something that's dear to me Passive income there are several ways in which you can actually generate passive income some people you invest in real estate Some people they write books and sell them on Amazon You know you create a maybe a course or something and put it on On you to me and and sell those those are ways you can generate passive income But another way you can go about doing it is in the stock market So if you can invest in stocks that pay dividends so dividends is pretty much companies Paying you for owning your shares, you know, which is kind of crazy when they make money They pay you know dividends to their shareholders. That's the simplest way I can actually break it down to you, but that's a very easy way for somebody to build passive income So if you can identify a really good stocks that are paying you that Dividends you can make money off of that but to make enough money that can sustain you you'd probably need to have Some good amount of money in there. I'm talking somewhere between 50 and a hundred thousand dollars to really start seeing some good monthly income Come in but to get to that point it takes a lot of work. So you have to start building it now So I'm building my dividend portfolio in M1 finance. I know I've talked about how great M1 finance is to you Robinhood just recently came out with their fraction and share options, you know They have a list. So I'm on the list Robinhood and your list. I don't know everything to them is a list list They can't just roll out stuff. So I'm on the list. I'm waiting So I'm completing now right now was that it once I feel like it access Would it be M1 finance or would it be Robinhood and I'm thinking it might be M Robinhood because Robinhood whenever you place your your trade it execute with M1 finance I only have one window with your free account that I have which is I think 9 a.m. For me central time So if I place my trade after 9 a.m It would wait until 9 a.m. The next day to execute unless I pay for their premium membership Before they can execute it but with with Robinhood The minute I place my trade it executes the right day and then and I'm done So I might have to you know reconsider my strategy with who I'm gonna go with but for now since I'm still on the list with Robinhood Fraction and share investing. I'm gonna stick with M1 finance and keep you guys posted. So Let's jump on the computer. So I'm gonna show you guys what my portfolio looks like come on This is my M1 finance portfolio as you can see Everyone has this whole concept of a pile. So this is my pile broken down into two I have two individual piles that combined to form my main pile So as you can see one is a real estate either one is tech and so I Have about just a little bit of a full grant in this portfolio and the gains are 80 183 dollars. So if you break it down here market gains is 121 dollars and and dividends is 61 dollars. So this is the this is the part that excites me Because where the market is going up or the market is going down you're getting that dividends continually coming toward That's why I'm trying to build this portfolio to to really get and right now cash on hand. I have 23 Dollars to be able to buy if I wanted to buy anything. So My goal is to turn on all the invest at some point so that when I get money dividends or whatever comes in I that should just be reinvested into my account That's the eventual goal so in each each of this one has Has some stocks so you can see What I have in there as far as options or my holdings and one two three four five holdings in there So my tech stock I have one two three four five options and so This total combined that's what forms this portfolio. So if I show you all my holdings So this is everything that I own in this M1 finance dividend portfolio 10 So 10 different holdings total This is how much average I paid per stock for each of these companies This is the cost that I paid when I bought them This is what it's worth right now Hmm and most of these I just got them just the beginning of this year They enter and then this is the gains that I've gotten from the stocks or just over the short amount of time. So this is looking pretty good not crazy returns, but At least looking positive. I mean what down $20 here. That's about five point seven percent, but hey You gain some you lose some the most important thing is that We're getting paid dividends Every month on a lot of this stocks here. So if you can see here, this is how much dividends I've been getting paid Just for the short amount of time that I own it. So just in January alone. I've gotten four dollars So that's just around that too for 80 almost two dollars five dollars and 50 cents Right here in December last year three dollars in November Just for the three cents. So my goal is to build is enough to the point where when you come in here Every month I don't have kiss my go. I want to have at least 20 between 20 and 30 good solid dividend stocks in here To start with and so every month I should be getting that money come in Getting paid those dividends and collecting them and reinvesting them and growing this. So Yeah, this is my dividend portfolio again, I'm gonna show you guys my holdings here You can actually You know do your research and figure out what you want. I got some stuff in tech or the real estate You know, here's one of the things I want to show you guys real quick. So if you go Under my pile I have another one here. That's our health care. I haven't bought any stocks in that pile yet So let's say we'll open it up. I have all these stocks in here And then I'm gonna eventually buy and add it to my portfolio So that is the goal so you can create, you know, as many palaces you want and then use them in your portfolio So like right here if I say add to my portfolio, it would ask me what percentage of my portfolio I want to be these particular pile and that's what's gonna show me Upfront so let's go back here. So again guys I'm excited here. So see we're starting on a good foot. So I guess 61 thousand seven cents In dividends and the goal again, like I said is to grow this account. So every month, I'm gonna show you guys What I've been doing what I'm buying And where my my dividends are coming from and how I'm reinvesting that dividends back into the account and growing it so hopefully by the end of the year Looking at maybe getting some side hustle money and buying more stocks and growing this account to Maybe 15 or $20,000 and eventually maybe in the next couple or years or so grow this account all the way to Let me be a hundred thousand dollars and getting good dividends from that So just to mention one quick thing right now. I'm actually on the fence with M1 finance and in Robinhood as far as No, using and for my dividend investing one of the reason is because M1 finance I used the a free option, which is what you see right now So they also have another option where you can pay But right now they only have two trading windows. So they have a 9 a.m At 2 p.m. So if you place a trade at say 10 a.m. Tomorrow morning That trade doesn't execute for me using the free option doesn't execute until 9 a.m. The next day So if you see a stock dropping rapidly and you're trying to stop the bleeding You place your trade. It's not gonna execute until the next day And when you execute the next day, it's executing at the market price at that particular time So if you see if a stock was dropping let's say from a hundred dollars to 80 to 70 and you was like, oh I want to get out you put in your your trade The execution takes place the next day when that stock is down to 40 dollars See you could have stopped it, but they just won't let you do it. So It's a little bit frustrating. I don't know why again the goal is to try to make sure that you know, I'm not In a bad position. So I'm gonna I'm gonna consider Robin Hood I have something set up in Robin Hood already as far as dividend portfolio So I'm just gonna combine the two in Robin Hood just because the trading window is wide open So I can place a trade anytime of the day during a trading window from 8 a.m. To 3 p.m. My time and I trade with execute Whereas with M1 it has to wait up Yeah, let me know if you have any questions. If you haven't already, please I'll eat advice sign up for M1 and get your free $10 to get started with investing It's free money. I don't think there's anybody that complains about free money So take advantage of the free money and start your investment journey. That's all I can tell you for now So as you can see guys Passive income is something that's really nice If you can have money sit there and work for you why you're doing other things taking a nap Traveling or taking a vacation. You're still getting some money come in. It's really really good. So question of the day What are some of the passive income ideas that you have? Let me know in the comment section if you like the video go ahead and give that thumbs up If you find it useful share it with one friend and we get related to what we're talking about here Helping people become debt-free and start building wealth. Definitely. Let me know in the comment section And as always Stay motivated