5 Best Ways to Make Money in 2023

No , I'm not crazy .

Uh , with inflation right now sitting at 6.4% .

If you have $1500 in the bank this year , you're losing right there .

$100 of it that's going down because of something called inflation .

And I thought I'd do something about it .

I've been researching for you .

What are the other streams of income that you should add to your world ?

Well , today for 2023 I'm gonna share with you the five best ways to make extra money rather than letting it burn a hole in your bank account .

Yeah .

You know what the problem is with most people financially , they're trying to make all their money in one stream of income .

I got a job .

I own a business and , you know , that's really all one person can handle false .

That's actually not true .

You can actually build multiple streams of income .

You can set them up to be passive , they can be businesses , they can be franchises , they can be side hustles .

You don't have to be stuck with earning money in just one way .

And in today's video , I want to talk about five of the best ways to make money in 2023 because the economy has changed .

A I it's advent is upon us .

It's actually never been easier .

In fact , if you're not this year , adding more streams of income , you either lazy or you're just not curious enough to find out .

But that's not you , you're a subscriber here on my channel .

I know you're here to increase your financial genius .

And today I'm going to shoot straight .

I'm going to give you five of the best ways .

So I have here $150,000 and this is 10 grand and check this out with inflation curved at a high 6.4% year over year .

It appears that reduced consumer buying power will be an ongoing trend .

This means that finding multiple streams of income is more important than ever before because if I have 15 packs of 10 grand , I can pretty much throw that $10,000 away because that is what is being eroded by our government's choice to print trillions of dollars that we don't have .

Instead of saying , hey , we should learn how to operate our government on a budget , maybe make better financial decisions .

And that starts with you .

And I , so today I'm gonna share with you five ways that you can improve your finances .

Five of the best ways to build a side stream of income .

Listen , I wasn't always financially well to do back when I was in college , I was going to school because I thought I was going to be a doctor .

I got weeded out of that because I was no good at chemistry .

But on that same token I had a job , it was a telemarketing job , kind of a college job .

Definitely not like big career move .

And it was an opportunity for me to talk to thousands of people that year who had been to college 30 years earlier , they were now in their fifties , they had dutifully gotten their degrees .

41 K , Ira worked on paying off their house and now I could feel all this financial panic from them and I started realizing that if you have just one job , you're always going to be in some level of financial desperation , even if you're paying your bills , if you have two jobs , maybe , like , I don't know , you're married and , uh , you got a significant other and they have a job , you can be a little better off .

But today there's even people with three jobs or four jobs in the household and they're struggling to make ends meet .

What we can clearly decipher from .

This is that one stream of income .

Not enough .

Two , probably not .

But what about 200 ?

Well , if you want to get to 200 you got to start with number 234 and five .

So today , what I wanna do is I want to show you a more financially intelligent approach to your financial life because if you're thinking , yeah , Chris , but a job that requires 40 or 50 hours a week , how can I get a second job ?

I don't got another 40 50 hours a week and you'd be right , you have to learn to think financially outside the box .

The first thing everyone needs is some type of side hustle something that you can spend one or two hours a day at .

But it actually runs the potential of not just making a few 1000 extra dollars a month , but maybe the kind of income that can free you from your job .

Think about that for just a moment .

If I could work two hours a day on the side and have it replace my entire job .

I get all that time back .

And now all of a sudden you've got that time for more streams of income .

Here's one such idea that could help you get there , start an online business .

Why ?

Well , you got 29% of small businesses that don't have a website by the , I don't even know how that's possible .

But yeah , they still haven't caught up to this thing called the internet .

With a gap in the market .

This large , you can set up either a website creation company , a social media ads company , an SEO optimization company .

And by the way , you've got really cool A I tools out there that will do most of this stuff for you .

In fact , I've helped people set up businesses like this .

This might be for maybe the slightly tech savvier work from home .

I like leveraging the internet kind of person that says Chris , are you really telling me I could do this ?

My younger brother Nick , he started doing this with me years ago now he's retired a multimillionaire .

It started with something as simple as this and it worked then and it works today .

My second idea for you today is how I originally became financially free .

It's real estate .

Do it yourself ?

Real estate .

Think of something as simple as an Airbnb or some type of house hacking .

Like I bought my very first house .

I rented out the basement .

It covered my entire mortgage and my wife and I lived for free .

You know what we did ?

A year later , we used the equity in the house because we bought it below market and it bought our second house .

Now we didn't move into that one , but that one after being rented out , paid us $600 a month plus thousands of dollars in the bank from the down payment , doing something called a rent to own or a lease option .

Guess how we bought the third house .

Uh The equity in the second house bought the third house by renting rooms in your house .

You can significantly reduce your living costs , which is most people's biggest expense .

And this is a great way to start financially thinking my biggest expense is my rent or my mortgage .

So what can I do on the side , real estate ?

A side hustle website design , something that can actually eliminate that and take it off the books .

Then you start going down the list and saying , ok , what's my second biggest expense ?

Maybe it's my health insurance , maybe it's my vehicle and the insurance for it or , and , and , and , and eventually you're going to get the food and the tiny little things , financially independent means that you've got these side streams of income with the three others .

I'm going to share with you today that ultimately produce ongoing income that wipe out all your expenses .

Because when you have no more expenses , you've got the freedom to live your life in a very different way .

Let's talk about buying an existing business , right ?

You don't have to start a business from scratch .

You don't have to dream up some great idea .

That is how some great companies start .

But for most of us , it's a lot easier to say , hey , who already started a business that's getting out ?

I mean , we are in the largest wealth transfer in modern history .

Why ?

Because in the next few years , the final baby boomers , they're about to retire and you know what , 60% of their businesses have no exit plan .

So get an existing business and if you want to beat that , take this little hack .

The third bigger idea is get a franchise .

Think about it , a franchise .

Some of these names that you recognize are basically an entrepreneur that came before .

They figured out how to do their business really well .

Then they started stamping it out and said , wow , we now have five shops .

But what if we want 500 or 5000 , we should give the opportunity to someone else and help them produce that same benefit .

Depending on the brand , a good franchise can have an 80% plus success rate .

These businesses can be financed in various ways , make your money back in a short period of time , create cash flow scalability .

And here's the cool thing about that .

You start from scratch and 80% plus of businesses fail over the course of the decade .

You do a franchise and it's the , there's a way higher likelihood of success , by the way , I have ownership in a dozen different franchises because I love this model .

And if you're interested in anything I've talked about so far in this video , whether it's real estate , owning a business , a franchise , anything I want you to click the link because you can request a free game plan , talk to a member of my team and let me show you all the cool stuff I'm doing that you can do too .

I want to show you a different thing to do with this money .

You see , I stash my money in a different place that allows me to earn money on it in more than one place at once .

And that is a very specific type of life insurance policy .

The fourth idea I'm sharing with you today is wait , Chris , are you talking about life insurance ?

Like I'm gonna die and when I die , I leave my family money .

No , this is a different kind of policy .

Whether funding a franchise real estate or another business .

You can grow your money in multiple places at once through a very specific type of whole life policy .

Life insurance allows you to have a guaranteed rate of return and borrow against your balance to fund your business ventures .

In other words , the most important financial decision in your entire life that you're ever going to make is to pay yourself first .

That means that with every paycheck , some of that has got to set aside not for savings , for investing .

Where should you stash it ?

Not in a bank account , not in a 401k , not in the bricks of your house through equity , but rather in a life insurance policy , every paycheck you stash it there .

And what it does is it accumulates and what it does , you can pull it out .

You can put it in different business ventures and your money will now be earning a great tax free rate of return here while being untouchable , while your money is earning you additional passive income over here .

By the way , if you're starting from scratch like I did .

This is a really smart thing for you to do because if you want to be a millionaire or a billionaire , you should do what they do .

And this is what they do .

And drum roll , please .

For the fifth idea , we're talking about another kind of real estate where you're totally passive and someone's doing it for you .

If you are already making good money and don't have time to manage another business , consider finding a real estate partner with a proven track record while you'll be sharing profits , earnings will be more consistent than stocks and it will be completely .

And for some people that makes all the difference in the world for the last 20 years , I've done $2 billion worth of real estate with hundreds of partners building their wealth portfolios and you know what , you don't have to be rich to play this game if you bought a house a couple of years ago or longer and it's gone up in value , you have equity that I believe you should put into real estate .

If you've been putting money into a 401k , or you switch jobs and you have a rollover or you've been putting money in an IRA , those are excellent sources to passively put in the game of real estate where you can go from earning weak single digit rois to really powerful , double and triple digit ros real estate consistently provides that and a single house for most people over 20 years equals millions of dollars .

If you'd like to see that math , then you'll definitely also want to click the link below because everything that I've talked about today are options that are available to you .

And I've got trained staff literally standing by to respond back to you , text you and represent me .

Basically say if Chris Krome were you , if I were in your shoes , what would I do financially right now ?

If you have one stream of income , let's help you get your next two or three .

If you have multiple streams of income , let's help you scale that so that you can build more wealth for yourself .

After all , you've got this one life to live and you can either make it selfishly all about you and trying to get your expenses covered or you can do something bigger .

You can play a game where you're going to build so many streams of income that you can build the kind of wealth that you can help a lot of people with .

So this is what I call getting a custom game plan .

It's a little bit like athletics .

It's like it's our team against that team .

Do you have a winning playbook ?

Do you have a winning strategy ?

Most of us are just following society's default game plan , but I promise you there is a superior one .

You just got to get a different set of eyes on your financial situation .

Someone that can help you understand that growing wealth just means you got to go from your low yields to higher yields without bringing on more risk .

Just a lot more reward .

I promise you those options exist and if you want to know more about them , click that link below and let me show you recently , I had an older gentleman come into my studio and he said , Chris , give me a game plan because I have less than 10 years to live .

If you want to know what his game plan looked like , then you're definitely going to want to watch this video right here because he was most concerned with how he was going to take care of his family .

And if that's a concern of yours , whether you're going to want to watch this video , let me show you what I did for him .