A 27-year-old is revealing how he was able to earn £550,000 last year after experimenting with multiple side hustles. Cody Berman is known as the Passive Income Expert and was able to reach financial independence by the age of 25.
He learned about passive income and how it is possible to make money through multiple revenue streams outside of someone’s monthly paycheck from their employer. Examples of this include investments, real estate, businesses, and side hustle; to name a few.
Thanks to generating passive income, the young entrepreneur no longer needs to work for money and spends his time helping others pursue their financial goals.
Speaking to CNBC: Make It, Mr. Berman revealed that he started his first side hustle during his freshman year in college where he started a disc golf manufacturing company.
Following this move, he explained: “I started getting some freelance writing gigs during college. Also did some tutoring, podcast editing, video editing, running affiliate marketing campaigns.”
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Overall, the money expert divulged that he was making between £1,165.05 ($1,500) to £1,398.06 ($1,800) per month on his side hustles. Fast forward to today, Mr. Breman continues to generate income through various side jobs at once.
These include selling an online course on how to start a business and renting out properties on AirBnb. As of last year, the entrepreneur was able to bring in around £550,000 ($700,000) from these various revenue streams.
Through his website, Mr. Breman offers advice to those who are looking to follow in his side hustle footsteps. According to the money guru, people should look into apps such as TaskRabbit and Fiverr to see what other people are doing to bolster their income on the side and determine whether they can do it better.
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He also suggests potential hustlers network in their own personal and business circles to kickstart their secondary careers.
Mr. Breman added: “There’s an unlimited number of opportunities now with the internet and all these different apps.
“There’s landscaping companies, there’s plumbing companies, there’s electricians that have no idea what they’re doing on social media, if you come to them with a decent proposal, you can run social media for them.”
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