Multiple Streams of Income

If you google this term, you get plenty of pages that has great suggestions on how to get the streams of passive/semi-passive streams of income. Let me put some here as reference:

Passive

• Buy high dividend yielding stocks
• Buy CDs
• Interest in a bank

Semi-Passive

• Rental Income Properties
• Write a book/e-book, self publish
• Affiliate links via merchants like Amazon or others
• Blogging and Income via AdSense
• Endorsements of a product
• Youtube via AdSense

Active

• Mechanical Turret on Amazon
• Make an iOS App or Game 
• Resale or sell stuff you don't use on Ebay/Craigslist/Amazon
• Uber

You can argue which are passive or not but I'm not going to nip pick about how much time each one really takes. If you have a million dollars in cash, you couldn't easily shove it all in high yield bonds and get 6% a year or about $60k. Passive really is passive, you do NOTHING and the money keeps on rolling in.

I've been a bit against rental income since I dread the need to service the home and dealing with vacancies. Because of the time required, I've shied away from obtaining more and more properties. I estimate that a group of 4-6 different properties would essentially equate to a full time job. If you are lucky enough to own so many properties then having a third party take care of all of them for you at the cost of some income would probably be completely worth the extra cost. This is essentially BUYING your more LIFE. WOO HOO!

Main take away with this list is that not every activity is for everybody. Of course, if NOTHING is for you then good luck, it might be hard to build income in other ways unless you are talking about starting your own company. You pick and choose and so far, I've chosen to not own rentals for the time being.

If you run a semi successful blog or YouTube channel, it comes with what appears to be passive income. AdSense income comes in as long as your views stays constant from month to month. But in order to keep the views coming, you may need to post semi-regularly. It takes time to create a good and interest post or a YouTube video. If the views are large, a single post may pay off handsomely and one would actually be want to post more regularly. Of course, getting it to that stage is on many people's minds and not a trivial matter. It requires great expertise and I stress... great persistence. I will elaborate more on this later.

Resale on merchant sites like Ebay/Craigslist/Amazon is like a blank sheet of paper. You can buy or sell pretty much anything and you are limited to your expertise. You buy some stuff in bulk that you are an expert in and sell them piece by piece for a nice profit. You can buy one from a brick and mortar store even as long as you know you are getting a steep discount. Resale is great for a quick buck but I don't enjoy it too much since it is a pretty active type of income and comes with some risk of over-paying for your products. That's where the expertise come in. If you know your niche, you wont overpay. If you ask me to go buy a bunch of beanie babies for resale, I would surely fail... at least at first.