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The 5 Streams of Income I Built by 21
The average millionaire has seven streams of income. And for a good reason. What are the chances that your day job is going to give you a raise to $500,000 a year? Less likely than you building 20 streams of income that all make around $25,000 a year. And that’s exactly what passive income and any other stream of income after your main job are. Even if they are small, they are digging the beginning of the path for a future of passive income. Today I want to share with you all of the income streams I’ve built by the time I was 21.
Main Job
Over a year ago, I started my own company, and I run that full-time from my apartment. I don’t take a crazy amount of money from it because I don’t need that much to live off of. My business is my baby, and if I keep taking it away from it, there is no money left for me to grow it. I take around $3200 a month from my company.
Dividends
Dividends are where a company will pay you a percentage of the profit for owning its stock. They are a great way to build passive income, but I don’t think they will replace your main job soon. The average dividends run you about 4% a year. If you have $400,000 invested in a dividend stock at 4%, you would only be getting around $16,000 a year. Nonetheless, it’s about as passive as you can get. Buy the stock, do nothing. Another benefit…
