I’m looking at accepting a professor job. It’ll be more than a 50% pay cut. But I’ll have the same life you describe – endless summers and an entire month every winter to ski. I’m thinking in the end, eventually, I might even end up wealthier in more ways than one. Happy people tend to be the most successful. I have no desire to diversify. Dividend stocks allude me. CDs seem like a good choice for older people, but I have time on my hands and real estate knowledge, so I’m sticking with what I know, despite the fact that most people will tell me it is foolish and I should diversify.
Perhaps a coworker purposefully tries to make your life miserable because they resent your success. Maybe you get passed over for a promotion and a raise because you weren’t vocal enough about your abilities, and mistakenly thought you worked in a meritocracy. Or maybe you have a new boss who decides to clean house and hire her own people. Whatever the case may be, you will eventually tire.
My personal finance blogs were started with $100, but you can start a blog with $20 if you buy hosting on a monthly basis. That’s 4 Starbucks coffees or 4 packs of cigarettes many paycheck to paycheck people do find a way to buy. After six months of HARD work, my first site started generating $2,000 a month, and today, those three sites generate over $5,000 a month, while all I have put in was hosting for $100-ish every year each, and a website redesign for under $1,000 after three years. Freelance writing and translation jobs are also a sizable part of my income that did not require any upfront investment. Investing $10 a month in index funds is also a realistic way for many to build yet another income stream.
Hey Mike! Love this article. Recently, I paid off my student loans and am crazy focused on creating multiple passive income streams. Currently, all my passive income comes from real estate and because of your great articles on the subject I called to check out refinance options! I had no clue about CD laddering, dividend investing or P2P lending until two weeks ago when I started doing my research on where to put my hard earned money. I had been just saving it but when I looked at the terrible 0.01% return I said forget it! 2 % for me is a great way to start. It is better than what I have been getting outside of my real estate. Also, creating products is a must! I’m working on this type of royalty too. I find it so exciting to learn how to use your money to make money. Thanks and I will be sure to link to you when I start my blog!
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To these human costs can be added the massive economic waste associated with the water and sanitation deficit.… The costs associated with health spending, productivity losses and labour diversions … are greatest in some of the poorest countries. Sub-Saharan Africa loses about 5% of GDP, or some $28.4 billion annually, a figure that exceeds total aid flows and debt relief to the region in 2003.Source 10

Sell an eBook Online – Self Publishing is mainstream today. When you purchase an eBook off of Amazon there’s a pretty good chance you’re buying a self-published book. Self-publishing is also ridiculously easy. I tried this a few years ago and couldn’t believe how simple the process was. To self-publish a book you’ll first need to write and edit it, create a cover, and then upload to a program such as Amazon’s Kindle Direct Publishing. Don’t expect instant success though. There will need to be a lot of upfront marketing before you can turn this into a passive income stream.
Blogging is a great way to stream in income. Some consider blogging as a passive income source and they are pretty much dead wrong. It takes a lot of hard work and time to build your blog into a viable business.  It is not a good get rich quick scheme, but with time and patience you can easily earn a full time income and even exceed what you make at your full time job if you are really good.

Maybe such a business is owning a McDonald’s franchise or something. If one has the capital (Feasibility Score 2), then the returns might be good (Return Score 6). But the Risk Score is probably under a 5, b/c how many times have we seen franchise chains come and go? Like, what happened to Quiznos and Jamba Juice? A McDonald’s franchise was $500,000… probably much more now?


That $200,000 a year might sound like a lot to you, but the median home price in San Francisco is roughly $1.6 million or almost eight times our annual passive income. For a family of three in 2018, the Department of Housing and Urban Development declared that income of $105,700 or below was "low income." Therefore, I consider us firmly in the middle class.
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CD Interest Income: I only have one CD account left in the amount of $185,000 paying 3%. It expires at the end of 2018 and I’ll have to figure out what to do with it. After selling my SF rental house in mid-2017 for 30X annual rent, I’m left with about $500,000 in cash after investing ~$2,200,000. The best CD today is the CIT Bank 12-month CD at 2.5%. That’s pretty darn good because just a couple years ago, such a CD was less than 0.5%. The yield curve is flattening, meaning folks should take advantage of shorter duration CDs.
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While stocks are terrific income producers, they can be volatile. Every few years, the stock market tends to stagnate or drop for a while before recovering, and that can be problematic if you were counting on your stocks having a certain value at a certain time. One way to lock in an income stream is by buying a fixed annuity (as opposed to variable or indexed annuities, which can have steep fees and overly restrictive terms). Annuity contracts will be more generous when interest rates are higher, but here's how much income they might deliver at recent rates:
I actually can’t get fired unless I do something truly horrible (or the state legislature gets rid of tenure). But I also have a spouse who likes to work and depending on how things change, I may need to leave my job for his career. So there are different levels of security. I’m never worried about us not having an income, but I do worry about being trapped in a specific job (or one of us being trapped with no job).

AbigailP That’s a really valid point, and I totally understand that piling more work on top of your day job isn’t for everyone. Before I started freelancing, I relied only on my day job because I was too drained to focus on other things by the time I got home. I think I’m used to it now, but it’s not easy, especially with chronic fatigue. Having a network to fall back on, or having a Plan B, is still very valuable.
Not only that but in almost all other cases there is the illusion of influence, which is itself a psychological and emotional cost. If you invest in a business that your friend or family member is running, you can see how things can get messy. You have thoughts on how things should be done, they have competing thoughts, if things aren't going well… we know how this story goes.

I have several streams, which is really nice because you never know when one will dry up. I think I will be losing one of my contract optometry positions later this year. It sucks because I like the job, but it won’t be financial ruin. Even if you have a secure job, the side income does allow you to meet goals faster. I don’t think I’d ever go back to relying on one job, even if it was awesome.
Perhaps a coworker purposefully tries to make your life miserable because they resent your success. Maybe you get passed over for a promotion and a raise because you weren’t vocal enough about your abilities, and mistakenly thought you worked in a meritocracy. Or maybe you have a new boss who decides to clean house and hire her own people. Whatever the case may be, you will eventually tire.

I’ve built several businesses since 2008 using one or more of these models. I’ve been featured in magazines and articles across the globe, and since I started my journey I’ve generated over $5M in earnings from these businesses. All of my income and expenses for those businesses dating back to October 2008 have been tracked publicly on SPI.com. You can see 10 years of income reports here.


Many people like writing blogs but only a few know that it can fetch you money as well. You can sign up with different companies as a promoter (or an affiliate) to promote their certain product or services on your blogs and websites. The payment method can be either a flat fee or a percentage of the amount of the sale completed, depending on your agreement.
Nobody gets early FI investing in bonds, CD’s, or even stocks unless they make a huge income or are extremely frugal or a combination of both. Paper assets just don’t provide enough returns. Business income can be great but it is typically not as semi-passive as I would like and there is a relatively high failure rate. That is if you can monetize an ideal to begin with. RE investing needs to be higher ranked IMO as a way that the “average guy” can become FI.
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I remember seeing a number of my co-workers get laid off in 2008 and many of them had only worked for the one company. They had mortgages to pay, colleges to pay and families to support and they were scared out of their minds for what they would do next. After watching that happen, I vowed that I wouldn’t suffer the same fate. It’s one of the main reasons I started my own company. I tell people now that instead of one boss (i.e. one company), I have hundreds of bosses and it makes me feel more secure about my longterm prospects.

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Thanks for the info…I kind of figured it is really not that expensive to live if you are not an extravagant person. I could definitely figure out how to funnel expenses through a part time business…I think I keep thinking along the lines that I’m going to be paying the same tax rate after retirement, but reality is you could get pretty lean and mean if one focused on it. On a scale of 1-10 with 10 being utter panic mode, how worried are you about your “pile” lasting through a 50 year retirement now that you are a couple years into it?

If you’ve ever thought to yourself, “I wish there was a product that did this,” then invent it! Create a product, medical or otherwise, and sell it as a company or get royalties for it. It’s not impossible to figure out, I have many friends who have taken a concept to market. Don’t overlook an invention as a fantastic means of attaining passive income.
I’ve had more jobs than I can count since I ‘officially started working’ at the age of 14. And I say officially because I was always hustling as a kid. There were the ordinary things like lemonade stands and selling my old junk at our family’s yard sales but I could get pretty creative when it came to making money. In high school, I remember asking my mom to give me extra bags of chips and snacks in my lunch so that I could re-sell them to my classmates for 75 cents or even a dollar. I was kind of a chubby kid so I guess my mom just figured I liked to snack a lot.
I am still working on my passive income, however I like multiple income streams even more. My favorite is capital gains because it is one of the lowest rates. One of the best passive income streams is a pension/Social Security. As I near retirement, I like the concept of it supporting my needs and my 401k supporting my wants. In addition, my brokerage accounts are all at capital gains rates. Don’t misunderstand, I am still working on adding more because I like multiple income streams!
The WBG has worked to promote economic growth and address systemic poverty challenges across many sectors. IDA’s support for the education sector—including through the General Education Quality Improvement Program and the Enhancing Shared Prosperity through Equitable Services program—has helped Ethiopia expand access to quality primary education over the last nine years. Primary net enrollment rate increased from 79.1% in 2006 to 99.3% 2016. There has also been a considerable reduction of the gender gap for schooling. The ratio of girls to boys for grades 1–8 increased from 0.84 in 2006 to 0.92 in 2016. The gross enrollment rate for secondary school (grades 9–10) increased from 37.1% in 2007 to 44.8% in 2016. Through the CPF, the WBG is working to improve the quality of and equitable access to education to address issues including high dropout rates and low learning outcomes, especially for girls.
The reverse can also be expected unless the rents rise too.  This rental increase might occur if we imagine interest rates are rising because the economic environment is improving.  At present, it is widely expected that rates will rise ever so slowly over many years.  Indeed the US has been looking for the courage to do this over recent months and they may start rising there soon.

“The biggest surprise is real estate being second to last on my Passive Income Ranking List because I’ve written that real estate is my favorite investment class to build wealth. Real estate doesn’t stack up well against the other passive income sources due to the lack of liquidity and constant maintenance of tenants and property. The returns can be huge due to rising rental income AND principal over time, much like dividend investing. If you are a “proactive passive income earner” like myself, then real estate is great.”
Andrew Rafal, Founder and President of Bayntree Wealth Advisors in Arizona, recently told me about his push to get clients to diversify their income streams. The Great Recession feels like an eternity ago now that the economy is looking up, he says. The job market is strong and consumer confidence is through the roof. As a result, it’s possible people are getting a little too comfortable.
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