Can you do it? Here’s my list:
- My salary.
- My wife’s salary.
- Dividends from stocks and other investments.
- This blog.
- Gifts from family.
Not all are created equal. For example, my list is extremely top-heavy on salaries, with much smaller incomes from the other sources. But I can still name five.
Five is not a magic number or a secret threshold for the right amount of diversity. But the key is that it’s more than one, and it gives me a baseline from which to work.
Is there an ultimate goal here? For me, it’s to have a list of five well-balanced supplies of cash flow of similar strength (you could define that in dollar amounts, for example). Balance is really the same thing as diversity: risks that may affect one stream probably won’t affect another.
How’s that for “job security?”
I’m not there yet, but I’m working on it.
7 thoughts on “Can You Name 5 Ways You Make Money?”
Fun idea! Here are five ways I make money: salary, blogging, iPhone app, interest, investments.
Is app-ing still a lucrative business to get into, or are we riding a buzz bubble right now?
Yikes, I can name 3 websites and that’s it!! Don’t worry I am working on it.
And that’s exactly the idea. 🙂 I love when writing things down really gives me a reality check.
New Website Ventures!
“New Website Ventures!” Sounds so entrepreneuristic!
I think that I’ve got five. Let’s see how it works out.
1. The job
4. Savings account interest
5. Building websites for others
The last one I’m working on for my 2nd client. It’s not much but I hope to build a decent portfolio and make some more money from that. The blog is JUST starting to generate income but it’s more than interest at ING so far. Thanks for this exercise. Now I know what I need to work on it the whole job thing goes bust.
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