October 16, 2021
7
 min read

Creating Income Streams

Investing isn’t just about the stock market. It is about investing in yourself and finding different ways to accomplish your goals.

Investing isn’t just about the stock market. It is about investing in yourself and finding different ways to accomplish your goals. This week’s post comes from a conversation I recently had with a friend fed up with their job, and at the top of the pay scale, with no room for growth. Our discussion centered around “how do I look out for myself?” when it feels no one else will?


Like most people, I aspire to retire early and live a comfortable life. If you listen to most finance gurus, they will espouse the ideology that to do so; you need to have seven different streams of Income - Earned Income (your salary), business income, rental income, dividend income, etc.


For me, my salary is enough to fund my 401(k), provide for my family, and leave a little leftover for a nice date night with my fiance. Taking steps to buy a rental property or own enough stock to have actual passive Income is the last thing on my mind. Recently, I have been pursuing different avenues to add streams of income that don’t require significant out-of-pocket expenses; here are a few that I would recommend for people looking to develop additional income streams.



Freelance Work

As Liam Neeson says in the movie Taken, “I have a very particular set of skills. Skills I have acquired over a very long career.” While you might not be in search of your child’s capturer, you have a specific set of skills that can help you make additional cash.


Are you an SEO expert? Can you assist as a Virtual Assistant? Help with Social Media marketing? Write a blog? Or help with business accounting? These skills, among others, can help you build an additional stream of Income. 


To start your freelancing career, here are a few websites for you to review:

www.freelancer.com - The world’s largest freelancing and crowdsourcing marketplace by number of users and projects


www.fiverr.com - connects businesses with freelancers offering digital services in 300+ categories


www.99designs.com - Global creative platform that makes it easy for designers and clients to work together to create a design they love


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Licensure and Certification

At PersonaFi, we are building and investing in the community. In your personal life, you have a community of friends and family to support you and want to see you succeed. You can look to grow your Income by obtaining a Real Estate license as a side job, or perhaps an insurance license. Both of these licenses can be an excellent way to supplement your income. 


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It is important to note; you don’t have to get to seven streams of income overnight. The ideas I laid out above are low-cost ideas to provide you with more Income that can eventually be invested elsewhere.  


With that extra cash, look to the community at PersonaFi to help you grow your wealth and your influence. Through our investing platform, you will then be able to continue to add income streams, such as dividend income and Rental Income. 



Robert LaMacchia is a content writer for PersonaFi. He is interested in a wide range of topics from personal finance, business strategy and international technology. Follow Robert on the PersonaFi app at @rlamacchia.

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