How many passive income streams do you have?

[bjl584]

I make a decent amount of money every month from sources other than my 9 to 5. Most of them are from stocks and funds that pay dividends.

I've recently been interested in expanding my portfolio to try to create multiple monthly passive income streams. Peer to peer lending is intriguing but I can't do it directly as a resident of Pennsylvania. I can do it through the secondary market, but I need to research it more before deciding if I want to proceed. I have a few other ideas in the works as well, but I'm wondering what everyone else might have going on. What is everyone doing to earn some passive income?

[rennigade]

Open the flood gates for those who invest in rental properties...in 3...2....1...

[bjl584]

Open the flood gates for those who invest in rental properties...in 3...2....1...

I would consider that semi passive unless you are established enough to have property managers and be completely hands off. I've looked into the idea of buying or building a self storage facility. You'd really only need one or two employees to run it.

[disneysteve]

I think the only passive income is from our investments - mutual funds and stocks. Every other way we earn money involves work on our part.

[Fishindude77]

We have passive income streams from; a commercial rental property, farm income, payment for serving on a board of directors, and dividends from a good stock. Totals out roughly $85k annually in addition to my part time job.

[TexasHusker]

Open the flood gates for those who invest in rental properties...in 3...2....1...

If landlording is a passive investment, I would hate to see an active one.

[~bs]

the number of streams doesn't matter as much as the amount you get from the streams. I could open 100 brokerage accounts with $1000 each, that's 100 income streams.

[clatoden99]

There is a well known statistic that the average millionaire has seven income streams.

If my memory serves me correctly this statistic was popularized by the book: "The Millionaire Next Door" by Thomas Stanley.

Wealth is all about having control over how you spend your time. By diversifying income through several income streams, wealthy people ensure that they have the ability to ditch one if it becomes a burden.

Some individuals become wealthy and realize all they want to do with their time is live and relax. Others find that the most enjoyable use of their time is to continue working.

[thestrongprofessional]

Building income streams

Hey bjl584,

I currently have investments in mutual funds and dividend bearing stocks but am looking to expand my revenue streams. I am in the software industry and I've been working on starting a SaaS company in my spare time. It's definitely not passive right now but I hope to eventually generate decent returns with minimal up keep.

Raphael

[bjl584]

the number of streams doesn't matter as much as the amount you get from the streams. I could open 100 brokerage accounts with $1000 each, that's 100 income streams.

True,
But my plan is to create multiple streams from different sources.
One stream can be income from stocks. One from some sort of rental income. One from a royalty payment or a lease. Etc.

[~bs]

True,
But my plan is to create multiple streams from different sources.
One stream can be income from stocks. One from some sort of rental income. One from a royalty payment or a lease. Etc.

Ok, that makes sense to me. For me, some currently, some when I retire.

Social Security
Pension
Rental property
401k
roth
brokerage account