Create Multiple Income Streams
If FIRE is truly your goal, then consider creating multiple income streams.
That's right! Spark a fire. Then keep building it so it doesn't fizzle out.
The trend toward a gig economy is real. A study by Intuit predicted that by 2020, 40 percent of American workers would be independent contractors.
Whether or not the study proves to be correct, the 9-5 lifestyle just might be a thing of the past for you. If so, what would you do if you never had to step into the office for a full day ever again?
Ideas for multiple income streams.
There are many ways to have a side hustle these days. You don’t even have to start a business to do so.
This includes freelance writing to renting out your car. Investing in rental properties is a great way to create cash flow too.
During my weekends, I taught yoga and wellness workshops at the local hospital. I also worked the front desk of a yoga studio at one point too.
8 Ways I Created Multiple Income Streams
- My 9-5 job
- Guest write for wellness websites
- Teach yoga
- Rent out my condo on Air BnB
- Rented out my car
- Invest in index funds
- Answer online surveys
- Run a blog biz: NotABondGirl
There are a gazillion more ways to reach financial freedom. But you don’t have to do it all! Try out 1 or 2 that get you excited and go from there.
As with everything in life, the fun part is the journey, not the destination.
I got to experiment with different types of side hustles. I eventually got to get a feel of what I enjoyed doing and let go of the activities that were not as enjoyable.
Got a few hours on the weekend?
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