What passive income streams have you set up for yourself? If you haven’t done any yet, are you planning on doing any?
I have some old insurance dogs and financial advisors, who wake up January 1, knowing that they will be making six to seven figures without really have to do a thing. They have minions doing the client servicing and they get the renewals of the underlying fees.
I have others who have invested in real estate, one jumps to mind where her income comes more in clumps, basically when the properties are sold, otherwise they are set-up to run with tax losses.
Other clients own the real estate themselves, but that can be more hands on at times.
Others flip the property after another of their companies rehab the place.
I have others who are collecting interest and dividends.
One client loans money to others, after a thorough background check.
I have and am doing a few of these items. I am trying to bulk up my passive income streams.
What passive income streams are you utilizing to improve your wealth?