A reader recently pointed me to annuity.org, which reminds us that sometimes we can just let some stashed cash do the work for us.
Passive Income Streams by Kim Borwick explains a few of the benefits of income sources requiring financial research and strategy vs. the ‘produce-and-market’ approach of many side hustlers.
A few highlights:
— “A passive income stream can mitigate the effects of financial shocks, especially for people in retirement who are on a fixed income.”
— “For example, diversification lets investors achieve two goals simultaneously: increase their rate of return and reduce risk.”
— “Similarly, laddering can eliminate the rigidity of an annuity contract, allowing you to take advantage of rising interest rates.”
— “These income sources can allow you to save for retirement or meet current financial obligations” without “the lack of quality family time and personal connection common among dual-earner households (including side hustlers).”
— The author closes with a list of additional ideas for passive income, many of which you might have considered, but in this world of ‘info-barrage’, a few reminders never hurt. PLUS, conditions and circumstances in 2021 change so fast, an idea ignored one day might be just the ticket for extra cash the next.
Dielle Charon started as a struggling social worker and over time discovered her own methods of generating leads and clients. She has brought in over $200,000 over two years–while still working 9-5– and has evolved into a ‘coach for coaches’.
Entrepreneur Elevator Pitch completed its sixth season (eight 20-minute episodes) last December. The first five seasons consist of 12 episodes.
The contestants–usually four per show–have 60 seconds to convince one or more of the four seasoned entrepreneurs to join them in their ‘board room’ to further discuss their business and negotiate an investment agreement.