I would like to know what strategies would help me create a monthly revenue stream for a spiritual blog. I will do general motivation (like Brendon Burchard or Tiny Buddha).
Creating a passive stream is something important for me to get some form of predictability in finances.
It is easy to think of passive income as money earned while sitting on a beach sipping mojito, but there is lots of work involved, says financial coach and retired hedge fund manager Todd Tresidder.
Still, passive income can be a great supplementary source of funds for many people, and it can prove to be an especially valuable lifeline during a recession or during other tough times, such as the government lockdown imposed in response to the coronavirus pandemic. The Internal Revenue Service says passive income can come from two sources: rental property or a business in which one does not actively participate, such as being paid book royalties or stock dividends.
“Many people think that passive income is about getting something for nothing,” Tresidder says. There is no “one size fits all” advice when it comes to generating income streams. How many sources of income you have should depend upon where you are financially, and what your financial goals for the future are. But having at least a few is a good start.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
