Ending Soon! Save 33% on All Access

The One Investment That Won't Let You Down (and Will Make Passive Income) Here is how to successfully make passive income.

By Jeff Rose

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Jeff Rose describes the one tip that can lead you to millions: Work on your side hustle. This is a way for you to make sure you have a reliable blanket of savings, no matter the conditions. Rose points out that thought the 2019 unemployment rate is impressively low right now, the average American's earnings have not gone up.

The benefit of a side hustle is that they are relatively cheap to get off the ground, normally do not require extensive business experience in marketing or coding, and you don't need to hire other employees.

To start your side hustle you will need the idea, the time and the grit, Rose says. Rose emphasizes that a side hustle is not the traditional format of trading in your time for money, instead, it is creating an asset and watching it grow profit over time.

Click the video to hear more.

Related: Why Your Morning Routine Should Start Before You Ever Wake Up

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.

Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger.  He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future.  He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.   

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Jeff Rose

This Certified Financial Planner Explains How to Invest $10,000

How I'm Picking the Best Stocks Right Now

Michael Jordan's Top 7 Rules for Success

Business Models

How to Become an AI-Centric Business (and Why It's Crucial for Long-Term Success)

Learn the essential steps to integrate AI at the core of your operations and stay competitive in an ever-evolving landscape.

Business News

'Creators Left So Much Money on the Table': Kickstarter's CEO Reveals the Story Behind the Company's Biggest Changes in 15 Years

In an interview with Entrepreneur, Kickstarter CEO Everette Taylor explains the decision-making behind the changes, how he approaches leading Kickstarter, and his advice for future CEOs.

Career

Is Consumer Services a Good Career Path for 2024? Here's the Verdict

Consumer services is a broad field with a variety of benefits and drawbacks. Here's what you should consider before choosing it as a career path.