Why having multiple streams of passive income is a good idea

[King bell]

Many people think that having just one stream of passive income is enough. But what if that stream dries up? Or what if it isn't enough to cover your expenses? That's why having multiple streams of passive income is a good idea.

For example, let's say you have a blog about personal finance. You could have ads on your blog, sell e-books, and have affiliate links to products. If one of those streams dries up, you still have others that can help you make money.

Another reason to have multiple streams of passive income is that it can help you diversify your income. If all of your income comes from one source, and that source dries up, you could be in trouble. But if you have multiple sources of income, you'll be better off.

So if you're looking to create passive income, don't just focus on one thing. Create multiple streams of passive income, so that you can diversify your income and protect yourself from financial hardships.

 

[moonchild]

When building a passive income it is very important to explore other ways of making income passively, most people settle to one and they miss out on their true potential earning, because of the internet today their basically endless number of ways you can build a passive income without even leaving your couch.

New industries are springing up on a yearly basis and all you have to do is to get on early enough, examples abound like Bitcoin, web3, NFT and Metaverse like people that got on these technologies early enough will make a lot of money actively and passively, so basically the opportunities are endless.