How Do I Create Passive Income?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 6 December 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

Click on a timestamp to play from that location

0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Let's go to Corinne in Houston, Texas.
0:25.0	What's going on, Corinne?
0:26.0	Is it Corinne?
0:27.0	Is it Corinne?
0:28.0	Did I say it right? Yes, ma'am, yeah, you did.
0:30.0	I love it.
0:31.0	Hooked on phonics.
0:32.0	Big Bird. What's going on, Corin? So I have $20,000 that I want to create passive income and with and so like my my few options I was thinking like an
0:48.5	ATM you know you have to buy those new it's a couple thousand and that would create monthly income or even
0:55.6	like a laundromat, but that's obviously a talking a lot more money and I don't have the income
1:00.7	to mess around with that. But if I start with something small,
1:04.1	like in ATM, then I can create passive stuff.
1:06.4	But then I also have like a little bit of debt
1:09.5	that I kind of want to put the money towards,
1:11.3	but then I also feel like maybe some can hold off and so it's kind of a toss.
1:15.4	All right, so before we get into the income we got to figure out what your financial picture is really quick.
1:20.7	So what layers here too?
1:21.7	Yeah, how much debt do you have? So I have
1:24.2	$3,200 on a capital one credit card and it is like $80 a month in
1:30.8	interest which I don't, that's bothering me.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.