درسنامه تفسیری

Multiple Streams – Commentary

Hi, this is AJ and welcome to the Commentary for this months’ lesson multiple streams of income. Let’s talk more specifically about how to start doing this.

Now, just like in the interactive lesson A & B that essay, very good, talked about opportunity. Opportunity, there are opportunities everywhere, business opportunities everywhere, income opportunities everywhere. You just need to start thinking differently.

Looking around your environment and the world differently, looking for those opportunities. So I can’t give you these specific opportunities, I’m not an investment consultant. I can’t tell you exactly what to do to create each of your small income streams, but I can give you some ideas. I’ll tell you some categories. Because remember, one of the things you want is diversification, which is the noun, or diversity but diversification. You want to diversify the verb to diversify our income streams, so that you have lots of different categories.

Now most people are working or they have a spouse (husband/wife) that works, or if they’re retired that used to work so that can be one of your categories. A job is maybe your main income source, your main income stream. That’s fine. If you’re retired it might be your pension or social security. Again, that’s fine that’s your main one, so that’s one category right? A paycheck, a job that’s one category.

So, you want to make other income streams that are not paychecks, that are not jobs, see this is the problem. Some people when they feel they need to get more money for savings, for investment or just to survive they go out and they just get another job, an additional part-time job. I think it’s a mistake, because then you’ve got the same category again and it’ll make you exhausted.

It’s a better idea to create a different category, so let’s talk about the different categories of income streams so you will have good diversification.

A job, a paycheck, perfectly fine that’s normal that may be your main one.

Next

Stocks – are a very common one.

Most people know about stocks and the stock market. It’s very easy to invest in stocks now. You can do it online. Now, again, I’m not a stock consultant at all so I’m just gonna give you some general ideas about how to do this most safely, because as you know you can lose money when you buy stocks, so you gotta be careful. That’s another reason that you want to diversify. Don’t put all your money into stocks, because if the stock markets crash then you lose all your money; bad idea.

Okay, so when you buy stocks, again, for most normal people if you’re a stock expert then you know what to do already don’t listen to me, but if you’re not an expert, most of us are not. Again, you want maximum diversification and the best way to do that are through something called index funds.

An index fund is a fund you buy, it’s something you buy, you buy shares and when you buy it your money is spread across all of the stock market, the entire stock market, even all stocks in the whole world, you can get an index fund for the whole world. So this gives you maximum diversity. Instead of trying to buy just one company and trying to guess which company’s going to be successful you just buy all companies using this thing called an index fund. That’s probably the most safe way to do it. Can you still lose money? Can it still go down? Of course it can, but that is the safest way to invest.

Another thing to do, which I like to do is to invest in stocks so you actually have an income. So look for a high dividend index fund. A dividend is a payment you get when you buy a share from a stock. Let’s say you spend $10, you buy one share of a stock for $10, well, every three months or maybe every six months it depends every company’s different, but usually it’s every three months. Every three months that company will pay you a little bit of money, so you have one share maybe ever quarter, every three months. Maybe they give you $.10, so four times a year that would be $.40 you would make from your $10 investment. That’s called a dividend.

The cool thing about dividends is, you get that income even if the price goes down. So if you buy it for $10, it drops to $5, that’s not good obviously but still you keep making the dividends. They’ll still send you that $.10, sometimes they increase the dividend, sometimes they reduce it, but you’re getting some little bit of income from the stocks you’re not depending on the price going up, up, up all the time. And you can get a whole fund so you buy lots and lots of companies. They’re called high dividend index funds. Do some research about that.

So stocks that’s one category. Another category are called bonds, bonds.

Bonds are basically loans. You’re loaning your money to a government or to a company or companies. Again, with bonds, you can get index funds; index funds again so that you get lots and lots and lots of them, maximum diversity. Bonds pay you interest. It may be low interest, maybe 2%, 3%, 4%, 5% but you get a little bit of income coming from the bonds. Also good.

The nice thing about having both stocks and bonds is they often will move in different directions, so if the stocks go up, the stock markets go up often the bonds will go down. If the stock market crashes often, the bond market will go up, not always, but again you have diversity, diversification, they don’t always move in the same direction all the time so it’s more safety.

The next category…

Rental real estate

Real estate right, means housing, apartments, hotels, buildings where you get rent, you’re making rent from them and there’s different ways to do this.

If you have an extra room in your apartment or house you could use something like Air BnB it’s a website (Airbnb.com ) or VRBO.com (vacationrentalbyowner.com), booking.com.

So, you could rent your apartment, the whole apartment or just one room, to people who are on vacation. You can make a little extra money from your extra room or if you have a garage you could make it into a little place where people could stay on vacation.

Or if you go on vacation, if you leave your city and go vacation, you could rent your apartment while you’re gone so that you make a little money from it. All these are possible. Or, if you wanted to you could actually buy a house, apartment or condo just to make money as a business and rent it out all year. Some people do that.

A third way to get money from real estate is by investing in something called REITs.

It’s kinda like buying a stock, but you’re buying stock in a real estate company, so that company is making money from rent, but then they pay you a dividend kind of like interest. They pay you a dividend and it’s usually a nice high percentage. The good thing about a REIT is that you can buy them with a small amount of money. To buy a house or apartment building you have to get a loan usually or you have to have a lot of money to do that, but a REIT you could do it, if you have a $100 dollars you could buy a few shares in a reit and usually websites and companies that sell stocks will also sell these REIT funds.

That’s a simple way to invest in real estate also, a different category.

Next category for your income streams, your multiple income streams.

Internet income

Make money from the Internet. Many ways to do this.

One way is to be an affiliate.

This means you sell someone else’s product. You make a website so sell a product, but it’s not your product it’s someone else’s product, this is a simple way. To make your own product and then sell it is a lot of work, trust me. It’s a lot of work to build your whole company like that, to build your own product and then sell it. That can take a lot of time and a lot of effort, but the cool thing is, a lot of companies have affiliate programs. That means you sell their product and for each sale you get a percentage. It’s their product so they get a percent, of course, because it’s their product but then you also get a percent just by building the website and selling or marketing the product.

Check out a website called ClickBank.com. They have a lot of different affiliate products you can sign up for that and find a product you like, make a website and try to sell it online. It’s a cheap way to do it and doesn’t require a lot of money and maybe you can make a little income stream that way.

Another way to have Internet income is to make a blog and have advertising, Google AdSense is the most popular one.

So, you make a blog about some topic that you love, that you’re interested in, that you know about and you write articles about it or make videos about it, or even a podcast about it and if you get an audience then you can put ads on your website or on your videos and you can make a little money each time someone clicks the ads. You will get paid a little bit so that’s another way to have a little bit of extra income from the Internet.

Another Internet income idea teaching or coaching online.

You can teach or coach something online. Lots of people on the Internet are trying to learn many, many different things. Maybe you have a hobby, maybe with your job or career you’re really good at something and there might be people out there in the world that want to learn that skill, and you can coach them. You can coach them using Skype, for example, or Facebook Messenger or whatever, it doesn’t matter. Use PayPal or some other payment system and they pay you for every hour and you meet with them once a week or more and they’ll pay you. That’s a cool thing to do.

Finally, a really simple way to do it, this is locally; there’s a website called Fiverr.com .

That’s where you do little small jobs, you do little small jobs and you set your price. So you create a price and it can be anything, maybe you do translations for your language in English. Maybe you do some little work for people, you do some research for people, you do errands for people in your town, anything. Get on Fiverr and look and see all the services that are offered. Lots and lots and lots of services, so you can get on Fiverr and offer some kind of service and make a little money from that.

So there you go, you got a lot of simple ideas for Internet income, our next category.

Okay another category…

A real world part-time business

Now remember, just like the essay said in the interactive lesson, just like I said in the main lesson, we’re talking about small income streams. You’re making multiple, you’re making several sources of income so each one can be very small. It’s much easier to build a small income stream than a big one, to make one big large one it takes a lot of work and you gotta be lucky sometimes too, but to make a little one, much easier.

So when you’re thinking about a part-time business, maybe you’re working a job so you don’t have a lot of time. You want to make a part-time business to make some extra money, an additional income stream, think small not big. You’re not looking for a legendary breakthrough idea, no, no, no, no you’re looking for something small and simple, small and simple. I’ll give you a bunch of ideas and you can think of other ones too.

I already mentioned coaching and teaching and consulting and tutoring, you can do that online, but you can also do that in your town wherever you live. You can coach, tutor or teach people locally. You can do a little class for people locally and charge some money for it. You can tutor and help kids with their school work.

You can teach your hobby.

Maybe you’re good at golf so you can do golf lessons or tennis, it doesn’t matter, anything, anything whatever it is. That’s one way to make some extra money, have a little small part-time business.

Another kind of part-time business is repairing or building things.

Maybe you’re good at repairing, doing some basic car repairs, car maintenance or building furniture or doing basic plumbing or little small repairs for apartments, houses, whatever. Anything like that you can make a small, little part-time business.

Next idea for a local business, small part-time…

Landscaping or housecleaning.

You can clean right? A lot of people are busy, really busy and tired, so you could start a housecleaning business, a small one and you could have a few clients, just a few and once a week go to their house and clean their house, vacuum it, clean it for them and you charge them money for doing that.

You could do their yard work, if they have plants and a yard you could mow their yard, cut their grass, take care of their flowers that kind of stuff and that could even grow into a bigger business. You could hire other people to do the work for you and you’d be the boss.

Freelance work

This is another way to have a part-time business. Freelance work means independent work connected to your main job. So if you have a main job or main career, let’s say you’re a designer you do graphic design, computer design at your job. You could take extra little small jobs away from your job at home. You could have freelance jobs, just register on some freelance website, for example, and do a little extra work with your same career, but outside of your job.

Again, this could grow bigger and bigger and bigger and who knows, maybe you could even quit your job eventually. Other ideas for real world part-time businesses, small businesses.

Babysitting

That’s an easy one, I did that one when I was a teenager. You just watch other people’s children . Maybe they go out at night, they have something they have to do at night and need someone to watch their kids for a few hours for one evening or on the weekend or something and you can make some extra money doing that.

You could also watch people’s pets, it’s called pet sitting. Same idea, maybe they go on vacation for a week, they need someone to check their pets, feed them, take them outside, walk them and that kind of thing. You can do that and charge money.

There are many, many, many, many, many, many, many more opportunities right, the opportunities are all around you, I’m just trying to give you something to think about to get your brain moving. Look round constantly for these opportunities and remember, think small don’t think big. Sometimes it’s good to think big, but in this case I want you to think small, I want you to make small little income streams. You don’t need to become Bill Gates. You don’t need to become Apple computer.

You’re just trying to build a small little income stream, maybe something that will make an extra $500 a month or $1000 a month or $2000 a month, something small like that and then you make another and another and another one and then you are independent financially with just these small little multiple streams of income.

All right, what to do. How do you get started? You start with the first step right, the first step, the journey of a thousand miles begins with the first step. So this month I want you to choose one category, one of these categories I mentioned and start building one very small income stream

Choose a category and then start building your income stream this month. You’ve got 30 days, so do it. In the next 30 days just make a decision and do it, make the effort. Don’t worry about failing. If you fail so what, no big deal, well then it doesn’t work so then you try something different.

Again, because these are small and you’re not risking a lot of money, so there’s not much risk that’s the good thing about this, you’re not risking a lot. You’re keeping everything very small so it’s very safe. If you’re gonna buy stocks, don’t invest all your savings in it, just start with a small amount. If you’re gonna do a little, try to do a little small Internet income of some kind, maybe an affiliate website. Again, don’t spend a lot of money to design the website, do it small, do it cheaply, start little but just start, just do it.

So, tell me about it on Twitter. Tell me what you’ve decided to do and send me information about it if you have a link, if you have a website for your income stream or you’ve got information, send it to me and I can share it with everybody and I can give you ideas also.

My Twitter is my name, AJHoge. Good luck to you, start building your income stream, just build your first stream. Start it now, this month. Financial freedom, you can and will have it.

See you next time. Bye.