Personal Finance

Side Income: How To Choose A Suitable Passive Income Stream

“The starting point of all achievement is desire. Keep this constantly in mind. Weak desires bring weak results, just as a small fire makes a small amount of heat.”   -Napoleon Hill

Based on a large number of findings, reports show that one of the sources of real money for the wealthy comes from Passive income. In fact a large number people of rely on passive income to be able to finance their lifestyles.

65% of self-made millionaires have at least three streams of income. If retiring early or becoming financially independent is a goal of yours, you may want to consider setting up at least one stream of passive income. Passive income allows you to maximize your revenue without increasing maintenance and workload. That’s because the money you earn isn’t directly tied to the hours you work like a traditional salary. In many cases, such as writing a book or selling digital products, the work is front loaded and then the money comes in steadily afterwards.

If passive income is of interest to you, you have options. Some passive income streams require money to get started, while others require time. Decide which you have more to give, and build from there. This infographic from Lexington Law will help you figure out which passive income stream is right for you.

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How Get The Pay Raise You Deserve- 10+1 Tips!

Imagine the things you could accomplish with an increased annual income. You could pay off student loans faster, enjoy more vacations, or finally save up for a downpayment on a house. The best way to significantly improve your financial standing is to confidently and professionally negotiate a raise.

Despite the benefits, asking for a raise can often be intimidating, especially if it’s your first time. Even though it’s a normal part of holding a job, many people who are new to the workforce may feel apprehensive about negotiating their salary. According to a recent survey 70% of people who ask for a raise receive one, yet only 37% of workers ever ask.

When asking for a raise, you may be surprised to learn that there are a myriad of other things you can leverage besides just your work experience. This guide from Self Lender gives you the tools to maximize your earnings at any stage in your career. (Read on)