4 Ways to Start Adding Income Streams Now
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In this video, financial advisor Jeff Rose provides four actionable steps for earning additional income, whether as side hustles or for a period of unemployment. These action items are:
1. Do something different
Try lowering your standards and do something that may feel like you’re overqualified to do, such as driving a rideshare or delivering groceries. When you put yourself out there and take action, things start to happen.
2. Start investing small
By investing in dividend-paying stocks, you’ll receive a dividend check every quarter. Additionally, your stock’s value may appreciate over time.
3. Dare to do something risky
Get out of your comfort zone and dabble in something you’re unfamiliar with, like cryptocurrency. Even if you don’t fully understand how it works, a small investment will motivate you to learn more.
4. Build something now that will bring in income later
A side hustle or project may not make any money for months or years, depending on what it is and how much work you’re willing to do, but it could be lucrative in the long-run.