How to make sure your passive income streams are sustainable

[King bell]

When it comes to generating passive income, sustainability is key. You want to make sure that your income sources will be around for the long haul, so that you can continue to enjoy the benefits of financial freedom.

There are a few things you can do to ensure that your passive income streams are sustainable. First, diversify your income sources. Don't put all your eggs in one basket, so to speak. This way, if one income source dries up, you'll still have others to fall back on.

Second, don't put all your eggs in one basket geographically. This is especially important if you're relying on rental income, for example. If all your properties are in one area and that area experiences an economic downturn, your income will take a hit. By diversifying geographically, you'll mitigate this risk.

Finally, make sure you're always on the lookout for new opportunities to generate passive income. This way, even if one of your existing sources of income dries up, you'll have others to take its place.

By following these tips, you can ensure that your passive income streams are sustainable and that you'll be able to enjoy financial freedom for years to come.

 

[Mika]

When passive income is sustainable, you will be making money on a regular basis. Unless and until the money from the work that does not require any ongoing work does not come to you on a regular basis it cannot be termed sustainable passive income. Let's say you invested $100 in Bitcoin and in a few months, your asset became $200. This is a passive income as you did not have to work to make your investment grow and to receive $100 profits along with a $100 investment. However, this is not a sustainable passive income because it is not a recurring income. However, if you invest in stocks and receive dividends every 4 months or every year, all the while your principal amounts are still in the market, this is a passive income. Investment in the right market can bring you sustainable passive income. Creating your own product can also bring sustainable passive income.