How many streams of income do you have?
-
- Posts: 46
- Joined: Tue Dec 22, 2015 1:43 pm
How many streams of income do you have?
I will likely never make substantial money from salary alone. I chose a field that has limited upside.
I would like to think of some ideas to create multiple streams of income for myself. I might start an online t-shirt webstore. May also write a children's book, etc.
Do Bogleheads all have 2, 3, or 4 streams of income? If so, what are they? How much effort does it take to keep them all producing, and how lucrative are they? Thanks.
I would like to think of some ideas to create multiple streams of income for myself. I might start an online t-shirt webstore. May also write a children's book, etc.
Do Bogleheads all have 2, 3, or 4 streams of income? If so, what are they? How much effort does it take to keep them all producing, and how lucrative are they? Thanks.
-
- Posts: 1207
- Joined: Sun Jun 14, 2015 7:07 am
Re: How many streams of income do you have?
Currently five streams of income:
- Profits from two businesses.
- My labor (which would exist independently from my businesses).
- My wife's job.
- Rental properties.
“The greatest shortcoming of the human race is our inability to understand the exponential function.” - Albert Allen Bartlett
Re: How many streams of income do you have?
My wife and I each worked one job each. Those jobs were more than full time obligations. We did not own or operate businesses or have rental real estate.allisonwalker wrote:I will likely never make substantial money from salary alone. I chose a field that has limited upside.
I would like to think of some ideas to create multiple streams of income for myself. I might start an online t-shirt webstore. May also write a children's book, etc.
Do Bogleheads all have 2, 3, or 4 streams of income? If so, what are they? How much effort does it take to keep them all producing, and how lucrative are they? Thanks.
Re: How many streams of income do you have?
Pensions
SS
Capital Gains,Dividends,Interest from investments
SS
Capital Gains,Dividends,Interest from investments
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
- zaboomafoozarg
- Posts: 2431
- Joined: Sun Jun 12, 2011 12:34 pm
Re: How many streams of income do you have?
10,000 companies in VTSAX and VTIAX + 8,000 bonds in VBTLX, most of which are paying me dividends year round.
Oh and a job
And some AdSense income too, from a couple little web side projects. Nothing big but it pays enough to max out my IRA.
Oh and a job
And some AdSense income too, from a couple little web side projects. Nothing big but it pays enough to max out my IRA.
- Phineas J. Whoopee
- Posts: 9675
- Joined: Sun Dec 18, 2011 5:18 pm
Re: How many streams of income do you have?
Not many.
I want to chime in to encourage you to go into a business, if that's the path you choose, where you offer unique value. T-shirt retailing is a commodity business, which is to say there are few if any barriers to entry, and within the bounds of offering copyrighted appliques, which despite rights can easily be copied, competition is based on offering a low price.
I suggest asking yourself what value you can add where you have little to no competition, and can compete based on something other than offering a low price.
PJW
I want to chime in to encourage you to go into a business, if that's the path you choose, where you offer unique value. T-shirt retailing is a commodity business, which is to say there are few if any barriers to entry, and within the bounds of offering copyrighted appliques, which despite rights can easily be copied, competition is based on offering a low price.
I suggest asking yourself what value you can add where you have little to no competition, and can compete based on something other than offering a low price.
PJW
-
- Posts: 490
- Joined: Wed Jul 01, 2015 6:52 pm
Re: How many streams of income do you have?
W2 Job and a Business
Re: How many streams of income do you have?
I agree. If you want to add a side job, it should be something you really enjoy doing and where you provide added value. Small businesses have phenomenal failure rates.Phineas J. Whoopee wrote:Not many.
I want to chime in to encourage you to go into a business, if that's the path you choose, where you offer unique value. T-shirt retailing is a commodity business, which is to say there are few if any barriers to entry, and within the bounds of offering copyrighted appliques, which despite rights can easily be copied, competition is based on offering a low price.
I suggest asking yourself what value you can add where you have little to no competition, and can compete based on something other than offering a low price.
PJW
Be leery of anything that sounds too good to be true, depends on you sending someone you don't know money for the "secret to success", or requires you to purchase lots of product to resell at a profit (i.e., multi-level marketing schemes).
Re: How many streams of income do you have?
If you just want to make a few extra dollars and have a smart phone, there are a number of apps that allow you earn money for doing small tasks in retail locations.
EasyShift, GigWalk, FieldAgent. Those are the main three I use.
EasyShift, GigWalk, FieldAgent. Those are the main three I use.
Re: How many streams of income do you have?
I work in the field of children's books, and not many people make decent money from writing them; I wouldn't recommend doing it for financial reasons.allisonwalker wrote:I will likely never make substantial money from salary alone. I chose a field that has limited upside.
I would like to think of some ideas to create multiple streams of income for myself. I might start an online t-shirt webstore. May also write a children's book, etc.
-
- Posts: 455
- Joined: Mon Sep 21, 2015 10:01 am
Re: How many streams of income do you have?
4:
My job
Spouse's job
RMD's from inherited IRAs (I use these to pay taxes)
Income from taxable accounts (reinvested)
My job
Spouse's job
RMD's from inherited IRAs (I use these to pay taxes)
Income from taxable accounts (reinvested)
-
- Posts: 1670
- Joined: Fri Mar 02, 2007 8:17 pm
- Location: 27,000 light years from the Galactic Center of the Milky Way Galaxy (the suburbs)
Re: How many streams of income do you have?
+1Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments
Time is your friend; impulse is your enemy - John Bogle |
Learn every day, but especially from the experiences of others, it's cheaper! - John Bogle
-
- Posts: 1881
- Joined: Tue Apr 08, 2014 3:23 am
Re: How many streams of income do you have?
We have a few--H's pension, my wages (very sporatic and minimal), RMDs from IRAs, rental income and significant dividends. We live well below our income, so always have money at the end of the year we haven't spent which we invest. When I am older, I should be eligible for SS as well (unless barred by means testing); H isn't eligible and any SS he could be eligible for would be more than offset by Government Offset provisions.
Our S has two--his job (which also gives him good benefits) and his part-time job which he earns more from but no benefits. So far, he hasn't purchased any real estate, as he lives in a very high COL area, as do we.
Our S has two--his job (which also gives him good benefits) and his part-time job which he earns more from but no benefits. So far, he hasn't purchased any real estate, as he lives in a very high COL area, as do we.
Re: How many streams of income do you have?
This thread is now in the Personal Finance (Not Investing) forum (income).
-
- Posts: 93
- Joined: Sun Nov 25, 2012 11:51 pm
Re: How many streams of income do you have?
I had to think about it for a second. My wife and I have five, and it goes a long way toward relieving stress knowing that if something happens to any one job we aren't up the creek. My wife has her residency pay check along with a 1099 gig on the side, plus a CPR instructor cert that allows her to teach as an independent contractor as little or as much as she'd like to drum up business. I have a 1099 writing job of my own, plus VA disability. We also have a rental property that is currently cash flowing in the black after the first six months. As I've started crunching numbers for taxes, having Schedule C and E's is really nice.
-
- Posts: 89
- Joined: Sun Apr 20, 2014 11:16 am
Re: How many streams of income do you have?
+1corysold wrote:If you just want to make a few extra dollars and have a smart phone, there are a number of apps that allow you earn money for doing small tasks in retail locations.
EasyShift, GigWalk, FieldAgent. Those are the main three I use.
There is also an app called Mobee. I prefer Field Agent and Mobee to Easy Shift and GigWalk, but that could be because jobs are more popular for those apps in my area (Baltimore/Washington metro).
Sometimes I quickly stop and complete an assignment in between commuting from work or running errands. However, I also like to make a day out of mystery shopping assignments and these quick app jobs.
Re: How many streams of income do you have?
• Own a small business (web design firm with 4 employees)
• 3 Rental properties
• Email marketing LLC - White labeled email marketing tool that we sell as a separate service
• Owner financed my old office condo to the new buyer (25 years at 6.875%)
• Wife's W2 Income - School teacher
I'm sort of like you in that my career doesn't provide a very large paycheck, or should I say...my W2 income is very sporadic. But, pulling all the income streams together and we traditionally float in the 25% to 28% tax bracket.
Time: I typically work 6 days/week. 5 days on web design and the 6th on rental rehabbing. I also think or overthink work a ton in the shower!
Find something interesting for your other income streams and the money will come. I'm 41, and think about working way too much now...because I'm a workaholic. But, I enjoy all the jobs I do.
There are other interesting income streams in 2016 that are so different. With the internet and the service society, you can drive for Uber, run errands to TaskRabbit, Consult in the field you are currently working!
The sky's the limit.
• 3 Rental properties
• Email marketing LLC - White labeled email marketing tool that we sell as a separate service
• Owner financed my old office condo to the new buyer (25 years at 6.875%)
• Wife's W2 Income - School teacher
I'm sort of like you in that my career doesn't provide a very large paycheck, or should I say...my W2 income is very sporadic. But, pulling all the income streams together and we traditionally float in the 25% to 28% tax bracket.
Time: I typically work 6 days/week. 5 days on web design and the 6th on rental rehabbing. I also think or overthink work a ton in the shower!
Find something interesting for your other income streams and the money will come. I'm 41, and think about working way too much now...because I'm a workaholic. But, I enjoy all the jobs I do.
There are other interesting income streams in 2016 that are so different. With the internet and the service society, you can drive for Uber, run errands to TaskRabbit, Consult in the field you are currently working!
The sky's the limit.
Re: How many streams of income do you have?
Keep your full time job, then get a part-time job in a supermarket, store, gas station, Etc. invest the proceeds in a 3 funds folio maybe . Join the National Guard and use their good benefits package as well . Invest the proceeds also . In 20-30 years you will have many streams of income,..Count on it !
"By gnawing through a dike, even a Rat can destroy a nation ." {Edmund Burke}
-
- Posts: 662
- Joined: Mon Mar 19, 2012 7:20 am
- Location: On the beach in SC. Hilton Head Island.
Re: How many streams of income do you have?
Me 2 pensions, social security, 3 RMDs
Wife 2 pensions, social security. RMD in 2017.
Wife 2 pensions, social security. RMD in 2017.
Re: How many streams of income do you have?
Wife and I both have salaried jobs.
All other work is volunteer.
All other work is volunteer.
We live a world with knowledge of the future markets has less than one significant figure. And people will still and always demand answers to three significant digits.
Re: How many streams of income do you have?
2 for now.
I'd advise buying a duplex in a decent enough area, suitable for as large a pool of tenants as possible. If you can't afford that, get a small starter home. An everyone's first home kind of place. Live in it as you save another down payment, rent what you can to others. Buy a second place, rent out the first. repeat this as able.
I'd advise buying a duplex in a decent enough area, suitable for as large a pool of tenants as possible. If you can't afford that, get a small starter home. An everyone's first home kind of place. Live in it as you save another down payment, rent what you can to others. Buy a second place, rent out the first. repeat this as able.
Pale Blue Dot
Re: How many streams of income do you have?
Currently-
Pension, 1099 income as a Realtor and dividends.
Prior-
W2 income, many second jobs including bartender, installer, etc...
Pension, 1099 income as a Realtor and dividends.
Prior-
W2 income, many second jobs including bartender, installer, etc...
- White Coat Investor
- Posts: 17413
- Joined: Fri Mar 02, 2007 8:11 pm
- Location: Greatest Snow On Earth
Re: How many streams of income do you have?
At least a dozen:
Professional fees
Professional fees generated by my employees
Payouts from an insurance company I once owned
Rent paid from one LLC I own to another
Advertising fees
Listing fees
Affiliate marketing agreements
Book Royalties
Rents from properties I own
Dividends from stocks I own
Dividends from bonds I own
Interest from various bank accounts and loans I've made
I add more every chance I get. I'd feel very uncomfortable with 1 or 2.
Professional fees
Professional fees generated by my employees
Payouts from an insurance company I once owned
Rent paid from one LLC I own to another
Advertising fees
Listing fees
Affiliate marketing agreements
Book Royalties
Rents from properties I own
Dividends from stocks I own
Dividends from bonds I own
Interest from various bank accounts and loans I've made
I add more every chance I get. I'd feel very uncomfortable with 1 or 2.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy |
4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
- cheese_breath
- Posts: 11787
- Joined: Wed Sep 14, 2011 7:08 pm
Re: How many streams of income do you have?
The above plus RMDs.Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments
The surest way to know the future is when it becomes the past.
Re: How many streams of income do you have?
Only salaries for DW and me now.
When we are both retired expect only investments and SS.
When we are both retired expect only investments and SS.
-
- Posts: 399
- Joined: Sun Dec 29, 2013 2:10 pm
Re: How many streams of income do you have?
Only the two salaries between my spouse and I, plus dividends in my retirement accounts. As a new MBA grad I am also dying to start something up on the side or at least volunteer somewhere....good luck to you!
-
- Posts: 22
- Joined: Sun Mar 11, 2012 9:38 am
Re: How many streams of income do you have?
+1basspond wrote:Only salaries for DW and me now.
When we are both retired expect only investments and SS.
Other streams I'd consider in next decade: property and/or part business ownership with employer. (Got 30 years til retiring. Good thing I love my job & have good health.)
Re: How many streams of income do you have?
3.
Wife's income
My income
Side hustle: medical market research surveys
I don't really count dividends yet because I just reinvest them.
Wife's income
My income
Side hustle: medical market research surveys
I don't really count dividends yet because I just reinvest them.
Re: How many streams of income do you have?
deleted
Last edited by aj44 on Tue May 05, 2020 11:23 pm, edited 1 time in total.
Re: How many streams of income do you have?
cheese_breath wrote:The above plus RMDs.Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments
RMDs about 5 years away for me
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: How many streams of income do you have?
Social Security
TSP RMD
FERS Annuity
Rental income on a parking space I'm leasing out in my condo.
TSP RMD
FERS Annuity
Rental income on a parking space I'm leasing out in my condo.
Gordon
Re: How many streams of income do you have?
SS
Pension
P/T job
Investments and savings
Pension
P/T job
Investments and savings
All the Best, |
Joe
- Phineas J. Whoopee
- Posts: 9675
- Joined: Sun Dec 18, 2011 5:18 pm
Re: How many streams of income do you have?
How is a Required Minimum Distribution (RMD) income? It's just moving resources one already owns from one account to another, and along the way incurring tax.
If I have $20 in my left pocket, take it out, give up the $5 in tax I didn't have to pay on it to begin with, and on its earnings until it's finished with, then put the remainder into my right pocket, I don't see any reasonable interpretation in which I could think of it, or even account for it, as income.
PJW
If I have $20 in my left pocket, take it out, give up the $5 in tax I didn't have to pay on it to begin with, and on its earnings until it's finished with, then put the remainder into my right pocket, I don't see any reasonable interpretation in which I could think of it, or even account for it, as income.
PJW
- dbCooperAir
- Posts: 1107
- Joined: Tue Jan 07, 2014 9:13 pm
Re: How many streams of income do you have?
You don't have to answer this but what can a person make doing a few of these gigs? I always have down time between running kids around.MSchleicher wrote:+1corysold wrote:If you just want to make a few extra dollars and have a smart phone, there are a number of apps that allow you earn money for doing small tasks in retail locations.
EasyShift, GigWalk, FieldAgent. Those are the main three I use.
There is also an app called Mobee. I prefer Field Agent and Mobee to Easy Shift and GigWalk, but that could be because jobs are more popular for those apps in my area (Baltimore/Washington metro).
Sometimes I quickly stop and complete an assignment in between commuting from work or running errands. However, I also like to make a day out of mystery shopping assignments and these quick app jobs.
I have a smart phone with out a data plan, I assume I would need to add that, would these gigs even cover a data plan?
Neither a wise man nor a brave man lies down on the tracks of history to wait for the train of the future to run over him. |
-Dwight D. Eisenhower-
- Phineas J. Whoopee
- Posts: 9675
- Joined: Sun Dec 18, 2011 5:18 pm
Re: How many streams of income do you have?
It most certainly contributes to Adjusted Gross Income, with respect to the US Internal Revenue Code, as I made abundantly clear in my post you're responding to, gkaplan.gkaplan wrote:Tell that to the IRS.
In what way is spending assets I already own income, in any reasonable, as opposed to when tax deferred money becomes subject to taxation under the US Internal Revenue Code, which if I don't like I can run for Congress on a platform of changing, sense of the word, rather than spending down assets I already possess?
I'm not asking you to tell me I don't owe my tax. I do, and I never cheat, and I never encourage anybody else to, and I encourage you, just like I do everybody else, to pay yours.
I'm asking you to tell me, since you deigned to respond with those words, in what way spending money I already own counts as income in any reasonable sense of the term.
You can't, because it doesn't.
PJW
Last edited by Phineas J. Whoopee on Sun Jan 03, 2016 10:57 pm, edited 2 times in total.
-
- Posts: 1814
- Joined: Mon Aug 01, 2011 8:15 pm
Re: How many streams of income do you have?
3 income sources:
-Day job
-Rental property (2-unit)
-Investment (1.5 gross salary)
DW will go back to work sometime this year.
Diversification of income sources is nice.
I use to do veterinary relief work and vaccine clinics plus enroll in the oddball clinical trial, but time is more limited these days.
-Day job
-Rental property (2-unit)
-Investment (1.5 gross salary)
DW will go back to work sometime this year.
Diversification of income sources is nice.
I use to do veterinary relief work and vaccine clinics plus enroll in the oddball clinical trial, but time is more limited these days.
Re: How many streams of income do you have?
Military pension
DW's work
5 rental houses
Our portfolio
1 1/2 acres of rubber trees in my wife's home country. (If all goes well in about two more years, the trees will be mature enough that my nephew can start harvesting the sap. Our share of the proceeds should pretty much cover my vacation related beer cost! )
DW's work
5 rental houses
Our portfolio
1 1/2 acres of rubber trees in my wife's home country. (If all goes well in about two more years, the trees will be mature enough that my nephew can start harvesting the sap. Our share of the proceeds should pretty much cover my vacation related beer cost! )
Re: How many streams of income do you have?
1. One full-time and one part-time job between the two of us.
2. Dividends, interest and distributions from investments, which are currently mostly re-invested (i.e. our jobs cover most or all of our living expenses).
We're in the middle of "ramping down" towards full retirement. At the end of this year the full-time job will go away, and then the mixture of income will change. For the time being we'll probably simply withdraw from from investments as necessary while we delay collecing Social Security.
If we both delay SS until age 70, it will probably be more than enough to cover our normal expenses, allowing us to reinvest most or all of our dividends, interest, distributions and RMDs from that point on.
2. Dividends, interest and distributions from investments, which are currently mostly re-invested (i.e. our jobs cover most or all of our living expenses).
We're in the middle of "ramping down" towards full retirement. At the end of this year the full-time job will go away, and then the mixture of income will change. For the time being we'll probably simply withdraw from from investments as necessary while we delay collecing Social Security.
If we both delay SS until age 70, it will probably be more than enough to cover our normal expenses, allowing us to reinvest most or all of our dividends, interest, distributions and RMDs from that point on.
Meet my pet, Peeve, who loves to convert non-acronyms into acronyms: FED, ROTH, CASH, IVY, ...
Re: How many streams of income do you have?
Good list of creative suggestion so far...zaboomafoozarg wrote:10,000 companies in VTSAX and VTIAX + 8,000 bonds in VBTLX, most of which are paying me dividends year round.
Oh and a job
And some AdSense income too, from a couple little web side projects. Nothing big but it pays enough to max out my IRA.
I have computer/web programming background and would like to get some pointers on how to get started on the AdSense or similar route. Any tips/advice appreciated.
Re: How many streams of income do you have?
Interest from accounts at different banks.
Part time position income.
No pension yet. My Deferred Annuities have not triggered yet. No SS yet.
Thinking of buying a small condo to rent out.
Part time position income.
No pension yet. My Deferred Annuities have not triggered yet. No SS yet.
Thinking of buying a small condo to rent out.
"The two most important days in someone's life are the day that they are born and the day they discover why." -John Maxwell
Re: How many streams of income do you have?
+1Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments
“The only freedom that is of enduring importance is freedom of intelligence…” John Dewey
-
- Posts: 2388
- Joined: Fri May 17, 2013 7:09 am
Re: How many streams of income do you have?
Basically I just have my wages. I do have some interest, dividends, and distributions, from my investments, but all of that is reinvested so for now while I'm still working I don't think of it as income per se because it never leaves the investment accounts.
Don't do something. Just stand there!
Re: How many streams of income do you have?
It all depends on how many jobs are available near where you live. Most of them are in major retail locations, think Target, Walmart, Walgreens, major grocery chains. The average job pays $4-8 and take 5-15 minutes, usually involving taking a few photos of a advertisers display of some sort. So if you can get 3-4 in a day and do them while running other errands, it works out ok. A few claim to do it as a full time job, but they are outliers. Last year I cleared around $1300. I live in a rural area, so I have less available and I usually just pick up what I can double up with on my paper route, since I am at the stores anyway. The bigger areas also have more competition, the jobs are first come first serve.dbCooperAir wrote:You don't have to answer this but what can a person make doing a few of these gigs? I always have down time between running kids around.MSchleicher wrote:+1corysold wrote:If you just want to make a few extra dollars and have a smart phone, there are a number of apps that allow you earn money for doing small tasks in retail locations.
EasyShift, GigWalk, FieldAgent. Those are the main three I use.
There is also an app called Mobee. I prefer Field Agent and Mobee to Easy Shift and GigWalk, but that could be because jobs are more popular for those apps in my area (Baltimore/Washington metro).
Sometimes I quickly stop and complete an assignment in between commuting from work or running errands. However, I also like to make a day out of mystery shopping assignments and these quick app jobs.
I have a smart phone with out a data plan, I assume I would need to add that, would these gigs even cover a data plan?
So probably not something you will make anything dramatic with, but if you put in a few hours a week and depending on where you live, ~$1,500/year is reasonable, potentially more if you are in a lucrative area.
You don't need a big data plan. Many stores have wifi you can use and even if not, the photos are usually compressed. For all my jobs last month, I used maybe 200-300 mb of data.
- dbCooperAir
- Posts: 1107
- Joined: Tue Jan 07, 2014 9:13 pm
Re: How many streams of income do you have?
I thank you,corysold wrote:It all depends on how many jobs are available near where you live. Most of them are in major retail locations, think Target, Walmart, Walgreens, major grocery chains. The average job pays $4-8 and take 5-15 minutes, usually involving taking a few photos of a advertisers display of some sort. So if you can get 3-4 in a day and do them while running other errands, it works out ok. A few claim to do it as a full time job, but they are outliers. Last year I cleared around $1300. I live in a rural area, so I have less available and I usually just pick up what I can double up with on my paper route, since I am at the stores anyway. The bigger areas also have more competition, the jobs are first come first serve.dbCooperAir wrote:You don't have to answer this but what can a person make doing a few of these gigs? I always have down time between running kids around.MSchleicher wrote:+1corysold wrote:If you just want to make a few extra dollars and have a smart phone, there are a number of apps that allow you earn money for doing small tasks in retail locations.
EasyShift, GigWalk, FieldAgent. Those are the main three I use.
There is also an app called Mobee. I prefer Field Agent and Mobee to Easy Shift and GigWalk, but that could be because jobs are more popular for those apps in my area (Baltimore/Washington metro).
Sometimes I quickly stop and complete an assignment in between commuting from work or running errands. However, I also like to make a day out of mystery shopping assignments and these quick app jobs.
I have a smart phone with out a data plan, I assume I would need to add that, would these gigs even cover a data plan?
So probably not something you will make anything dramatic with, but if you put in a few hours a week and depending on where you live, ~$1,500/year is reasonable, potentially more if you are in a lucrative area.
You don't need a big data plan. Many stores have wifi you can use and even if not, the photos are usually compressed. For all my jobs last month, I used maybe 200-300 mb of data.
db
Neither a wise man nor a brave man lies down on the tracks of history to wait for the train of the future to run over him. |
-Dwight D. Eisenhower-
-
- Posts: 1198
- Joined: Fri Sep 27, 2013 4:03 pm
Re: How many streams of income do you have?
My salary
Wife's salary
A few hundred/month from a hobby website
I don't count dividends and interest since that's just reinvested.
I'm always on the hunt for one to add, but free time is a tough commodity to come by with a toddler in the house.
Wife's salary
A few hundred/month from a hobby website
I don't count dividends and interest since that's just reinvested.
I'm always on the hunt for one to add, but free time is a tough commodity to come by with a toddler in the house.
Re: How many streams of income do you have?
Company Pension, CPP, rental income, investment income, part - time jobs, 3 of them, much better than working full time
-
- Posts: 46
- Joined: Tue Dec 22, 2015 1:43 pm
Re: How many streams of income do you have?
Very impressive. For those of us with limited education or means, would you suggest getting a part time job on the side? Any other ideas?EmergDoc wrote:At least a dozen:
Professional fees
Professional fees generated by my employees
Payouts from an insurance company I once owned
Rent paid from one LLC I own to another
Advertising fees
Listing fees
Affiliate marketing agreements
Book Royalties
Rents from properties I own
Dividends from stocks I own
Dividends from bonds I own
Interest from various bank accounts and loans I've made
I add more every chance I get. I'd feel very uncomfortable with 1 or 2.
-
- Posts: 46
- Joined: Tue Dec 22, 2015 1:43 pm
Re: How many streams of income do you have?
Why do you prefer working 3 part time jobs? I haven't really heard of this concept if a full time job is available. Pretty interesting...baker3232 wrote:Company Pension, CPP, rental income, investment income, part - time jobs, 3 of them, much better than working full time
Re: How many streams of income do you have?
2 pensions
2 future SS
RMDs
2 future SS
RMDs
Why not upgrade your skills so you can get a higher paying job? This could be with your current employer or another. There are always community colleges that teach many job-related skills and they are very inexpensive compared to 4-year colleges.allisonwalker wrote:I will likely never make substantial money from salary alone. I chose a field that has limited upside.
A dollar in Roth is worth more than a dollar in a taxable account. A dollar in taxable is worth more than a dollar in a tax-deferred account.