“According the IRS, the average millionaire in the United States has at least five different sources of income.” –
List of my 7 sources of income:
My main source of income coming from my current job. But last 1 year I am changing my focus to create multiple passive income streams. Our current saving rate is 50%. So we are very happy because we know with 10 years we are financially independent. My real problem with the traditional 9 to 5 job is that it takes too much time. We almost spend 8-hours job and 2-3 hour daily travel.
2. Stock Market
We invest in blue-chip stocks. I spend daily 1 hour to gain knowledge of the stock market.
3. Interest from lending money
I get 5k monthly as a result of lending my money to someone.
4. Client-Server renew
I have hosted clients website in my server so every year they paid maintenance charges.
I have lots of good connection in our industry that’s why i earn 5k-10k monthly from freelance project.
6. Interest from bank FD
We have invested my 6-month expenses (emergency fund) in FD. We earn 10k yearly from FD.
This income gets even better than Interest Income. It is equally passive and not only that, it also makes you a shareholder of a company. Dividend income is my favorite one, my 2019 earning is around 9k. But I have the plan to earn around 60k from dividend in the next couple of years.