Comments on: Why Alternative Income Streams Are Part of My Long Term Plans http://cashmoneylife.com/alternative-income-streams-are-important/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Regis http://cashmoneylife.com/alternative-income-streams-are-important/#comment-23997 Regis Wed, 09 Jun 2010 03:39:55 +0000 http://cashmoneylife.com/?p=1129#comment-23997 Can't stress enough how important it is to retain an alternate source of income. Now, more than ever, with the current financial crisis being experienced by thousands, and potential thousands from graduation from universities, one must consider the fact that our economic stability will never be the same. One must take steps to insure that they are able to maintain the quality of life they are used to and are not forced to live in financial distress. Can’t stress enough how important it is to retain an alternate source of income. Now, more than ever, with the current financial crisis being experienced by thousands, and potential thousands from graduation from universities, one must consider the fact that our economic stability will never be the same. One must take steps to insure that they are able to maintain the quality of life they are used to and are not forced to live in financial distress.

]]> By: Ryan http://cashmoneylife.com/alternative-income-streams-are-important/#comment-16434 Ryan Wed, 04 Feb 2009 20:19:33 +0000 http://cashmoneylife.com/?p=1129#comment-16434 <strong>Jules: </strong>Trying to create new income streams can seem daunting at times, but there are many ways to do it. It can be as simple as consulting or working a part time gig, or earning money through your website. The best sources of side income come from things you enjoy - such as a hobby like the photos on your site. Jules: Trying to create new income streams can seem daunting at times, but there are many ways to do it. It can be as simple as consulting or working a part time gig, or earning money through your website. The best sources of side income come from things you enjoy – such as a hobby like the photos on your site.

]]> By: Jules @ Money Feuds http://cashmoneylife.com/alternative-income-streams-are-important/#comment-16433 Jules @ Money Feuds Wed, 04 Feb 2009 19:05:04 +0000 http://cashmoneylife.com/?p=1129#comment-16433 Great, motivating article! My main job feels a little intense at times, so creating a second income source (other than interest on my investments) sometimes feels overwhelming in my "downtime". But it is definitely something I need to work on. Or at least come up with a first step of developing an idea! Great, motivating article! My main job feels a little intense at times, so creating a second income source (other than interest on my investments) sometimes feels overwhelming in my “downtime”. But it is definitely something I need to work on. Or at least come up with a first step of developing an idea!

]]> By: Ryan http://cashmoneylife.com/alternative-income-streams-are-important/#comment-15170 Ryan Thu, 13 Nov 2008 03:34:07 +0000 http://cashmoneylife.com/?p=1129#comment-15170 <strong>Monevator: </strong>I don’t think a net worth goal is the way to go either, but a lot of people put stock in a number (it’s an easy concept for a lot of people who are new to personal finance). Personally I’m going for exactly what you mentioned - the crossover point where my investments are earning me more money in passive income than my day job. That is when I will feel financially free. <strong>Craig: </strong>Your question could easily be a series of articles by itself. In addition to the previously mention money making methods, working a part time job, receiving rent from a property, and royalties, one could start a business, do contract or consulting work, and many other side jobs. Creativity is the key. <strong>Curious Cat: </strong>I'm working on alternative income streams as well. The more, the better as far as I'm concerned! I think your ideas for Social Security are good, and we will probably see some of them in the near future. At this point I don't plan on including SS income for retirement because I don't know for certain it will be around. Hopefully I will be pleasantly surprised and it will be a nice bonus. :) Monevator: I don’t think a net worth goal is the way to go either, but a lot of people put stock in a number (it’s an easy concept for a lot of people who are new to personal finance). Personally I’m going for exactly what you mentioned – the crossover point where my investments are earning me more money in passive income than my day job. That is when I will feel financially free.

Craig: Your question could easily be a series of articles by itself. In addition to the previously mention money making methods, working a part time job, receiving rent from a property, and royalties, one could start a business, do contract or consulting work, and many other side jobs. Creativity is the key.

Curious Cat: I’m working on alternative income streams as well. The more, the better as far as I’m concerned!

I think your ideas for Social Security are good, and we will probably see some of them in the near future. At this point I don’t plan on including SS income for retirement because I don’t know for certain it will be around. Hopefully I will be pleasantly surprised and it will be a nice bonus. :)

]]> By: Curious Cat Investing Blog http://cashmoneylife.com/alternative-income-streams-are-important/#comment-15165 Curious Cat Investing Blog Wed, 12 Nov 2008 23:24:20 +0000 http://cashmoneylife.com/?p=1129#comment-15165 Multiple streams of income are a great goal. I have been making progress in that direction for years (increasing my additional income). <a href="http://investing.curiouscatblog.net/2007/01/16/social-security-trust-fund/" rel="nofollow">Social security is actually in pretty decent shape</a>. My guess is it will have to be adjusted but by and large should remain. My picks for adjustments are delaying the retirement age (at least 5 more years by 2050) and increasing the amount of income subject to the tax as well as reducing benefits for those with over $1 million in assets and $100,000 in income. Multiple streams of income are a great goal. I have been making progress in that direction for years (increasing my additional income).

Social security is actually in pretty decent shape. My guess is it will have to be adjusted but by and large should remain. My picks for adjustments are delaying the retirement age (at least 5 more years by 2050) and increasing the amount of income subject to the tax as well as reducing benefits for those with over $1 million in assets and $100,000 in income.

]]> By: Craig http://cashmoneylife.com/alternative-income-streams-are-important/#comment-15151 Craig Wed, 12 Nov 2008 21:31:00 +0000 http://cashmoneylife.com/?p=1129#comment-15151 Allocating resources is a great idea and allocating income streams is just as smart. The problem is that is very difficult for most people especially since their main job takes up so much time. Any recommendations? Allocating resources is a great idea and allocating income streams is just as smart. The problem is that is very difficult for most people especially since their main job takes up so much time. Any recommendations?

]]> By: Jarhead http://cashmoneylife.com/alternative-income-streams-are-important/#comment-15099 Jarhead Mon, 10 Nov 2008 22:44:52 +0000 http://cashmoneylife.com/?p=1129#comment-15099 Right now my "alternative income stream goal" is to become debt free with the exception of a mortgage. Once i am no longer paying CC interest that will be like getting a $500 a month raise. That is some decent alternative income. Right now my “alternative income stream goal” is to become debt free with the exception of a mortgage. Once i am no longer paying CC interest that will be like getting a $500 a month raise. That is some decent alternative income.

]]> By: Donny Gamble http://cashmoneylife.com/alternative-income-streams-are-important/#comment-15094 Donny Gamble Mon, 10 Nov 2008 17:13:37 +0000 http://cashmoneylife.com/?p=1129#comment-15094 Alternative streams of income should be apart of everyone retirement savings. Being diverse as possible will decrease the amount of money lost and also help you gain more money from your investments in the long term. Alternative streams of income should be apart of everyone retirement savings. Being diverse as possible will decrease the amount of money lost and also help you gain more money from your investments in the long term.

]]>