How Many Streams of Passive Income Should I Build?

[moonchild]

Passive income it's just like active income and the advise has always been, get multiple sources of income and by doing so you'll be able to split up the risk, it's the same in passive income, just because you have a real estate portfolio doesn't mean you should sit on your hands, explore other ways to make money passively, you can do it in the same industry, maybe acquire more rentals or open a service business and have others do the work for you, there are just different alternatives.

Also in business it's important to always visualise stuffs going wrong due to many uncontrollable variables that are involved in running a passive business.

The more the better always, by diversifying your passive income you'll be able to deal also minimize your risk exposure and maximize your profits gain in your business.

Share your own views on this topic below in the comments.

 

[Mika]

Having two passive income source is better than having just one passive income source right? Therefore, an easy answer to the question how many streams of passive income should you build is build as many passive income sources you can. The more the better. Having more income sources means you are bring in more money. There is also another benefit to this. If your one or two source dies, you can still make money through other sources. However, building multiple passive income source is not easy.

 

[R100K-Martin-Lunger]

As many as you can. It's as simple as that. Do your research and do what makes sense to you. If you're looking to invest money for long-term gains, there's nothing better than Bitcoin right now. It's all about HODLing right now and waiting for the 100k, 150k breach and beyond for a great pay day. Real estate ownership is great for monthly income and beyond. It all depends on your goal and needs.

 

[Shortie]

I believe when it comes to passive income, you should have as many streams of passive income as you can manage. Whilst some people may only be able to manage to streams of passive income, others may be able to manage three or four different ways of passive income.

Having at least two I would say is a good number.