A young financial expert with a net worth of $500,000 has shared the seven streams of income she has to bring her closer to becoming a millionaire.
Queenie Tan, from Sydney , makes her income mostly from brand collaborations on her popular social media channels but also earns cash from things like shares, rent, speaking at events and ad revenue.
In a TikTok clip , the 26-year-old said the average millionaire has seven income streams and pointed out it’s important to have money coming in from multiple sources rather than relying on just one.
Scroll down for video Queenie earns dividends from her portfolio of shares and EFTs while taking in ad revenue from each advertisement played on her popular YouTube videos
Queenie has multiple shares and EFTs or Exchange Trade Funds in her portfolio that pay her dividends and make up 10 per cent of her overall income. Investor Queenie Tan’s seven streams of income
> Brand collaborations – 50 per cent
YouTube – 15 per cent
Referrals – 15 per cent
Dividends – 10 per cent
Events – 4 per cent
Rent – 3 per cent
Digital products – 3 per cent
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The investor has a popular YouTube channel with more than 55,100 subscribers and every time an advertisement plays on one of her videos she gets 55 per cent of the revenue.
Queenie shared that she has an estimated revenue for the next six months of more than $12,000 with the payments making up 15 per cent of her income.
Another 15 per cent of the money Queenie said she takes in is from referrals: ‘I have partnerships where I get a bonus if someone signs up and they can get a bonus too.’
Half of Queenie’s income comes from brand collaborations on her popular social media channels.
Brands pay the influencer to create content for and promote them in the form of paid partnerships.
The ex-marketing manager sometimes shares her savvy financial knowledge by speaking at events where she gets a fee for appearing.She also earns money by renting out her two-bedroom apartment and from selling digital products she developed like her income tracker program.’I didn’t build these income streams overnight, they all took patience, hard work and a bit of luck,’ Queenie added.’But I think it’s important to build different streams of income so you don’t have to rely on just one.’ 50 per cent of Queenie’s income comes from brand collaborations on her social media channels which have a huge following and she charges a fee to appear and speak at eventsPreviously, Queenie shared six ways to earn more from your career in 2023, whatever your pay grade.She started researching and investing when she was 19, and she now has a diverse financial portfolio and is half way to her goal of making $1million.Queenie said the first thing she has learned about earning more from your job is that it’s always a good idea to start working early or ‘as soon as you can’.’I love making money and working, so I got my first job as soon as I was legally able to at 14 and nine months, at McDonald’s,’ Queenie said in her podcast. Six ways to boost your pay 1. Start work as early as possible.2. Negotiate the pay before you start in a job.3. Check whether you’re being paid the going rate for a job by checking sites like Glassdoor.4. Cast around online to see what others in similar jobs are earning.5. Be professional when you’re negotiating, and if they won’t pay you more, maybe you can WFH or get more holiday days.6. Start a side hustle.AdvertisementShe explained that starting work so early encouraged her to know and appreciate the value of both work and money, and taught her how to save.Queenie’s second point is that you should always negotiate hard when you start a new job, as it’s ‘far easier to get the money before you start somewhere’.’One of my friends told me that it’s really hard to get a pay rise when you get the job and I have taken this advice everywhere with me,’ Queenie said.She also said it’s important to continue getting pay rises as the years pass, as with the cost of living increasing year on year you’re ‘actually getting a bit worse off every year unless you’re getting a pay rise’.In order to find out whether you’re being paid the going rate for a particular job, the 26-year-old recommends consulting some Glassdoor reviews.’Glassdoor is a website where employees […]
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