How many streams of income do you have?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Topic Author
allisonwalker
Posts: 46
Joined: Tue Dec 22, 2015 1:43 pm

How many streams of income do you have?

Post by allisonwalker »

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.
Stormbringer
Posts: 1207
Joined: Sun Jun 14, 2015 7:07 am

Re: How many streams of income do you have?

Post by Stormbringer »

Currently five streams of income:
  • Profits from two businesses.
  • My labor (which would exist independently from my businesses).
  • My wife's job.
  • Rental properties.
During retirement we'll lose the income from our labor (assuming we don't opt for semi-retirement), but gain income from Social Security and retirement accounts.
“The greatest shortcoming of the human race is our inability to understand the exponential function.” - Albert Allen Bartlett
dbr
Posts: 46181
Joined: Sun Mar 04, 2007 8:50 am

Re: How many streams of income do you have?

Post by dbr »

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.
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.
User avatar
Toons
Posts: 14467
Joined: Fri Nov 21, 2008 9:20 am
Location: Hills of Tennessee

Re: How many streams of income do you have?

Post by Toons »

Pensions
SS
Capital Gains,Dividends,Interest from investments :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
User avatar
zaboomafoozarg
Posts: 2431
Joined: Sun Jun 12, 2011 12:34 pm

Re: How many streams of income do you have?

Post by zaboomafoozarg »

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 :D

And some AdSense income too, from a couple little web side projects. Nothing big but it pays enough to max out my IRA.
User avatar
Phineas J. Whoopee
Posts: 9675
Joined: Sun Dec 18, 2011 5:18 pm

Re: How many streams of income do you have?

Post by Phineas J. Whoopee »

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
JustinTime
Posts: 490
Joined: Wed Jul 01, 2015 6:52 pm

Re: How many streams of income do you have?

Post by JustinTime »

W2 Job and a Business
cherijoh
Posts: 6591
Joined: Tue Feb 20, 2007 3:49 pm
Location: Charlotte NC

Re: How many streams of income do you have?

Post by cherijoh »

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
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.

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).
corysold
Posts: 960
Joined: Mon Mar 24, 2014 12:58 pm

Re: How many streams of income do you have?

Post by corysold »

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.
fposte
Posts: 2327
Joined: Mon Sep 02, 2013 1:32 pm

Re: How many streams of income do you have?

Post by fposte »

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.
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.
mattshwink
Posts: 455
Joined: Mon Sep 21, 2015 10:01 am

Re: How many streams of income do you have?

Post by mattshwink »

4:
My job
Spouse's job
RMD's from inherited IRAs (I use these to pay taxes)
Income from taxable accounts (reinvested)
minesweep
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?

Post by minesweep »

Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments :happy
+1
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
HIinvestor
Posts: 1881
Joined: Tue Apr 08, 2014 3:23 am

Re: How many streams of income do you have?

Post by HIinvestor »

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.
User avatar
LadyGeek
Site Admin
Posts: 95704
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: How many streams of income do you have?

Post by LadyGeek »

This thread is now in the Personal Finance (Not Investing) forum (income).
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
dependapotamus
Posts: 93
Joined: Sun Nov 25, 2012 11:51 pm

Re: How many streams of income do you have?

Post by dependapotamus »

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.
MSchleicher
Posts: 89
Joined: Sun Apr 20, 2014 11:16 am

Re: How many streams of income do you have?

Post by MSchleicher »

corysold 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.
+1

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.
renue74
Posts: 1893
Joined: Tue Apr 07, 2015 7:24 pm

Re: How many streams of income do you have?

Post by renue74 »

• 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.
User avatar
SeeMoe
Posts: 1107
Joined: Sat Jul 18, 2015 11:30 am
Location: Near Philly..

Re: How many streams of income do you have?

Post by SeeMoe »

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 ! :moneybag
"By gnawing through a dike, even a Rat can destroy a nation ." {Edmund Burke}
Old Guy
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?

Post by Old Guy »

Me 2 pensions, social security, 3 RMDs
Wife 2 pensions, social security. RMD in 2017.
Rodc
Posts: 13601
Joined: Tue Jun 26, 2007 9:46 am

Re: How many streams of income do you have?

Post by Rodc »

Wife and I both have salaried jobs.

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.
4nursebee
Posts: 2664
Joined: Sun Apr 01, 2012 7:56 am
Location: US

Re: How many streams of income do you have?

Post by 4nursebee »

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.
Pale Blue Dot
User avatar
jfn111
Posts: 1377
Joined: Fri Nov 08, 2013 9:42 pm
Location: Minnesota

Re: How many streams of income do you have?

Post by jfn111 »

Currently-
Pension, 1099 income as a Realtor and dividends.

Prior-
W2 income, many second jobs including bartender, installer, etc...
User avatar
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?

Post by White Coat Investor »

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.
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
User avatar
cheese_breath
Posts: 11787
Joined: Wed Sep 14, 2011 7:08 pm

Re: How many streams of income do you have?

Post by cheese_breath »

Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments :happy
The above plus RMDs.
The surest way to know the future is when it becomes the past.
basspond
Posts: 1500
Joined: Wed Nov 27, 2013 3:01 am

Re: How many streams of income do you have?

Post by basspond »

Only salaries for DW and me now.

When we are both retired expect only investments and SS.
PlayingLife
Posts: 399
Joined: Sun Dec 29, 2013 2:10 pm

Re: How many streams of income do you have?

Post by PlayingLife »

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!
tp_from_ks
Posts: 22
Joined: Sun Mar 11, 2012 9:38 am

Re: How many streams of income do you have?

Post by tp_from_ks »

basspond wrote:Only salaries for DW and me now.

When we are both retired expect only investments and SS.
+1

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.)
GUMD
Posts: 23
Joined: Sun Jan 03, 2016 7:49 pm

Re: How many streams of income do you have?

Post by GUMD »

3.

Wife's income
My income
Side hustle: medical market research surveys

I don't really count dividends yet because I just reinvest them.
aj44
Posts: 309
Joined: Sat May 10, 2014 11:22 am

Re: How many streams of income do you have?

Post by aj44 »

deleted
Last edited by aj44 on Tue May 05, 2020 11:23 pm, edited 1 time in total.
User avatar
Toons
Posts: 14467
Joined: Fri Nov 21, 2008 9:20 am
Location: Hills of Tennessee

Re: How many streams of income do you have?

Post by Toons »

cheese_breath wrote:
Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments :happy
The above plus RMDs.


RMDs about 5 years away for me :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
gkaplan
Posts: 7034
Joined: Sat Mar 03, 2007 7:34 pm
Location: Portland, Oregon

Re: How many streams of income do you have?

Post by gkaplan »

Social Security

TSP RMD

FERS Annuity

Rental income on a parking space I'm leasing out in my condo.
Gordon
User avatar
joe8d
Posts: 4545
Joined: Tue Feb 20, 2007 7:27 pm
Location: Buffalo,NY

Re: How many streams of income do you have?

Post by joe8d »

SS
Pension
P/T job
Investments and savings
All the Best, | Joe
User avatar
Phineas J. Whoopee
Posts: 9675
Joined: Sun Dec 18, 2011 5:18 pm

Re: How many streams of income do you have?

Post by Phineas J. Whoopee »

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
gkaplan
Posts: 7034
Joined: Sat Mar 03, 2007 7:34 pm
Location: Portland, Oregon

Re: How many streams of income do you have?

Post by gkaplan »

Tell that to the IRS.
Gordon
User avatar
dbCooperAir
Posts: 1107
Joined: Tue Jan 07, 2014 9:13 pm

Re: How many streams of income do you have?

Post by dbCooperAir »

MSchleicher wrote:
corysold 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.
+1

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.
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.

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-
User avatar
Phineas J. Whoopee
Posts: 9675
Joined: Sun Dec 18, 2011 5:18 pm

Re: How many streams of income do you have?

Post by Phineas J. Whoopee »

gkaplan wrote:Tell that to the IRS.
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.

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.
DVMResident
Posts: 1814
Joined: Mon Aug 01, 2011 8:15 pm

Re: How many streams of income do you have?

Post by DVMResident »

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.
RedDog
Posts: 289
Joined: Sat Dec 05, 2015 3:36 pm

Re: How many streams of income do you have?

Post by RedDog »

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! :sharebeer )
User avatar
22twain
Posts: 4032
Joined: Thu May 10, 2012 5:42 pm

Re: How many streams of income do you have?

Post by 22twain »

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.
Meet my pet, Peeve, who loves to convert non-acronyms into acronyms: FED, ROTH, CASH, IVY, ...
techrover
Posts: 196
Joined: Tue Jun 12, 2012 2:23 pm

Re: How many streams of income do you have?

Post by techrover »

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 :D

And some AdSense income too, from a couple little web side projects. Nothing big but it pays enough to max out my IRA.
Good list of creative suggestion so far...

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.
User avatar
obgyn65
Posts: 770
Joined: Sun May 06, 2012 9:11 am

Re: How many streams of income do you have?

Post by obgyn65 »

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.
"The two most important days in someone's life are the day that they are born and the day they discover why." -John Maxwell
dewey
Posts: 497
Joined: Fri Feb 24, 2012 10:42 am

Re: How many streams of income do you have?

Post by dewey »

Toons wrote:Pensions
SS
Capital Gains,Dividends,Interest from investments :happy
+1
“The only freedom that is of enduring importance is freedom of intelligence…” John Dewey
IlliniDave
Posts: 2388
Joined: Fri May 17, 2013 7:09 am

Re: How many streams of income do you have?

Post by IlliniDave »

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!
corysold
Posts: 960
Joined: Mon Mar 24, 2014 12:58 pm

Re: How many streams of income do you have?

Post by corysold »

dbCooperAir wrote:
MSchleicher wrote:
corysold 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.
+1

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.
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.

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?
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.

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.
User avatar
dbCooperAir
Posts: 1107
Joined: Tue Jan 07, 2014 9:13 pm

Re: How many streams of income do you have?

Post by dbCooperAir »

corysold wrote:
dbCooperAir wrote:
MSchleicher wrote:
corysold 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.
+1

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.
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.

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?
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.

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.
I thank you,

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-
OatmealAddict
Posts: 1198
Joined: Fri Sep 27, 2013 4:03 pm

Re: How many streams of income do you have?

Post by OatmealAddict »

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.
baker3232
Posts: 2
Joined: Tue Sep 16, 2014 5:27 pm

Re: How many streams of income do you have?

Post by baker3232 »

Company Pension, CPP, rental income, investment income, part - time jobs, 3 of them, much better than working full time
Topic Author
allisonwalker
Posts: 46
Joined: Tue Dec 22, 2015 1:43 pm

Re: How many streams of income do you have?

Post by allisonwalker »

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.
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?
Topic Author
allisonwalker
Posts: 46
Joined: Tue Dec 22, 2015 1:43 pm

Re: How many streams of income do you have?

Post by allisonwalker »

baker3232 wrote:Company Pension, CPP, rental income, investment income, part - time jobs, 3 of them, much better than working full time
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...
User avatar
celia
Posts: 16774
Joined: Sun Mar 09, 2008 6:32 am
Location: SoCal

Re: How many streams of income do you have?

Post by celia »

2 pensions
2 future SS
RMDs
allisonwalker wrote:I will likely never make substantial money from salary alone. I chose a field that has limited upside.
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.
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.
Post Reply