Lecture 2: Multiple Streams of Income
Multiple Streams of Income Checklist:
- Your J.O.B
- 401K or what's called an IRA (individual retirement account) through your job, especially if they offer a match. Check with HR.
- Roth IRA; some employers have them through the same firm that offers the IRA. If not, start a search with Google.
- Savings account, that's separate from your checking account and does not have an ATM/debit card attached. It should truly be a savings account.
- Insurance Policy: I like Term, but There's also Whole Life (do your research to determine which is best for you.)
- Municipal Bonds
- Trading Account for: Stocks, ETFs, Mutual Funds, Options
- 529 College Savings Plan for Children and Grandchildren
- Precious Metals
- Real Estate: Own Your Own Home; Fix N Flip; Rentals
- Start a Business with the short term, 2 - 3 years, goal of leaving your job
- Have a side hustle while working
- Invest in Crypto
- Partnerships: Active Investor or Passive Investor
- Collectibles, such as art
- Vending Machines, etc.
- Endless possibilities...