Yep! When you have multiple streams of income, your money doesn’t run out, it folds! Before the pandemic, many people thought less of passive income (having two sources of income). But, when many jobs were disrupted and many lost their means of livelihood, it became a race to get a new job or start a new business. Some took on several short-term careers while some go as far as choosing full-time jobs on different shifts.
People are quick to forget what they went through and suspended their multiple sources of income after the economy started booming again. But, it’s actually not their fault. Most of our ancestors were taught from childhood to become great in their professions. They learnt skills that will help them get a good job. Only a few added experience to education to maximize their earning potentials.
If your salary is your only source of income, you are only one step away from poverty. You need diversification to have a stable income, and stay clear from losing your soup to the honey pots out there.
You may earn passively from;
v Operating activities
You may earn money for completing simple tasks online, or help people virtually. This may require you to share your skills. It’s hereby an avenue to sell your services at the comfort of your home, and at any time of your interest.
v Investing & Financing activities
Your investment is also a stream of passive income. It entails you sending your money an errand. It’d be the one to go out and help you yield more of it. These are great ways of sitting back to enjoy the world you’ve paved ways for. You may make financial investments to get lots of income as dividend stocks and some other investments have high growth potentials over time with minimal maintenance and risks.
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