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What is a Money Tree?
Money Tree is an asset that you create that generates constant income – an income stream that is automatic and requires no investment of time or energy.
How do you grow your own Money Tree?
You grow your own Money Tree by spending a lot of time, usually three to ten years, creating some money-making asset.
Example: I have written 8 books, based on my Rich Habits Research/Study. My Rich Habits Research/Study took 5 years and each book takes between six months to two years to write. Each of those books is a Money Tree, which produces Profits all over the world, even when I am asleep.
Some examples of assets you can create:
- TikTok videos – One of my daughter's friends shoots videos of the tie-dye shirts she creates. He monetized his TikTok account after he reached 10,000 followers. His TikTok account now makes about $4,000 a month.
- YouTube videos – YouTube is very complicated. You must be eligible for the YouTube Partner Program, which requires high streaming requirements – at least 1,000 subscribers and 4,000 watch hours in the last year, or 1,000 subscribers with 10 million legitimate Short views within the last 90 days.
- Spotify Songs – Spotify pays $3 to $5 for every 1,000 streams.
- Blogging – If your Blog has enough subscribers, you will attract advertisers, who will agree to compensate you by allowing them to advertise on your blog. Every week, I get at least one email from an advertiser who wants to advertise on my Wealthy Habits website/blog.
- A podcast – Money Tree model similar to Blogging.
- Facebook, Instagram and other social networks have their own models related to the Money Tree.
- Online courses – You can sell your courses through your website or join an Online Course Platform such as Thinkific, Teachable, Learnworlds, LearnDash, Podia, Ruzuku, Acadeny of Mine, WizIQ, Udemy, Skillshare, LinkedIn Learning, Treehouse and Coursera.
- Rental Property For Sale – Rental properties are only a Money Tree if you outsource the property management to a Property Management Company. As for how much you can bring in, if you have very little down payment on the rental property, you will need to take out a loan. Paying off the loan will eat up your Money Tree money. Paying a Property Management Company to manage the property, will also cost you money for Money Tree. If you don't provide a Property Manager, you will have to deal with all the tenant issues, which wastes time and energy, making the rental property a Money Tree and more business.
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