Those who achieve financial independence will tell you that having multiple streams of income from different sources is the key.
Passive income means income from something that requires no (or little) work. Most passive income ideas need you to put in a LOT of work.
The thing I love about companies like DiversyFund is that they don’t make money unless the investors make money since they invest and manage the projects themselves.
If you are afraid of investing, there’s a chance you have a decent chunk of change saved in a checking or savings account. Saving money is always a good thing.
Dividends are profits paid out to owners of stocks. Some companies pay dividends on a regular schedule, which means it can become a dependable source of income.
Lending Club allows investors to diversify their assets by investing in different types of loans.
Owning real estate is a great way to turn your home into income. Consider renting it out for extra income.