multiple streams of income

[sfchin]

we all should seriously think about having multiple streams of income to increase our income or just in case you lose your job

[OneLung]

If you have multiple streams of income, why would you need a job?

[sfchin]

You probably have a 9-5 job which give you your major income, then you can have extra stream of income from your online home business, or income generated from the rental of your investment properties.

Obviously we want to generate more cash from various streams of income.

[OneLung]

Investment properties? Are you in the United States? 

[rppearso]

LOL this is a funny post.  Rental properties take a super long time before they are actually profitable because you are paying on the mortgage and if you dont have renters your hosed.  This multipule streams of income is a dilusion.

[OneLung]

Actually, It's not a delusion. I have multiple streams of income, but it takes a lot of time and work. Each month I get deposits from eBay, Amazon, Google and a couple of other sources. Someone took the time to show me how to do it after I got forced into retirement. They told me to pay it forward, but it seems that most people are either too lazy or too wrapped up in their own self-pity to even want to try.

[rppearso]

Then that is not a multipule stream of income it is your primary stream of income.  Multipule streams of income was sensationalized in robert kiosakies rich dad poor dad and is in reference to passive income (ie income you supposedly dont have to work for) in addition to your regular income to help pad your bank account.  In reality this rarely works because realestate in alot of cases becomes a sink hole for money in addition to your mortgage and you have to have renters, I know several people that tryed doing this when it was all the rave and there "passive" income becomes a second active income which takes time away from family and friends because you are having to continually deal with tenant issues.  This works if you can pay for the property out right and hire a property manager but you have to have the upfront capital.  You can try the stock market but if you dont invest a ton of time and know exactly what you are doing your going to loose big time.  I am not sure what you are doing on ebay just buying from whole salers and reselling?

Actually, It's not a delusion. I have multiple streams of income, but it takes a lot of time and work. Each month I get deposits from eBay, Amazon, Google and a couple of other sources. Someone took the time to show me how to do it after I got forced into retirement. They told me to pay it forward, but it seems that most people are either too lazy or too wrapped up in their own self-pity to even want to try.

[faithmessenger]

I think the term "passive income" first has to be defined. To me, passive means that you don't have to do anything to "make money" as opposed to "earning money". Again, even those two terms are as different as night and day. I have several streams of online income, some would be considered passive and some not so passive. I "make" about $1000 per month from Google that would very much be considered passive because I don't lift a finger to earn it. So, there are great opportunites still out there...online and otherwise to generate passive income.

[Dexter]

Multiple Streams of Income is wise to have especially in today's economy. There are many people who have multiple streams of income in different ways.
Real Estate can be one if bought wisely with the right price, giving room for someone to manage the property, repairs, taxes, insurance, etc.
Many fortunes have been made with Real Estate and continue to be made in different ways dealing with Real Estate.

Having a 2nd job would even be considered a multiple stream of income. Not that I would recommend it for long periods of time.

Others have investments that bring in passive income, as do Network Marketers.

There will always be naysayers that say "oh it's too risky, it won't work," etc. etc.  Dream killers is what I call them. Go rain on some Else's parade I say to those type of people.

We see plenty of examples in each industry I mentioned making a very substantial  income and creating multiple streams of income.

Dexter Black

More Wealth and Riches to you!

[Johnb]

Is anyone having success with afillate marketing online?  I am looking at this for my children some of whom are under employeed at this time.

[BHafner]

I think having multiple streams of income(passive income) is extremely wise. Granted it is easier said then done, but if you are willing to think a little differently and to work hard at it then I believe that it can be achieved. I know for myself This is what I am working towards mainly because of the options that can be had. My heart is in doing ministry and I know that having passive income can definitely help in this regard.