I want to be financially independent by the time I am 40. So with this as a goal, I am trying to develop multiple streams of income. I have my full time job as Accountant but I also have freelance clients on the side as bookkeeper. This takes up too much of my time and I work over 50hrs a week now. Right now, what Im doing to diversify my income is thru my investments (earning dividends) and selling my old stuff thru craigslist or ebay and preparing income taxes with Jackson Hewitt. I am currently still searching for other doable streams that would fit into my skills and talents. Any ideas? Im more the introvert type, very much at home with numbers and not so much the artistic or social type of person.
How to have multiple streams of income
How I did it: First I started taking on freelance assignments besides working a fulltime job. When my freelancing took off, I halved my steady job and devoted more time to freelance work, which made my yearly income rise significantly.
Lessons & tips: If for some reason u don't want to make drastic changes all of a sudden, just take it step by step.
Resources: Use the resources available to you: my steady job gave me the opportunity to take several workshops and seminars (on managing and networking, etc); even though these weren't directly related to my actual job, I was allowed to follow them anyway and the insights I got were really useful for my freelancework. And the other way around I was also able to take some of my experiences and knowledge gained from freelancing into my steady job.
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—Which benefits me in several ways!! They live only 10 min from the ski area I instruct at on weekends all winter. Best case scenario: I instruct all day at Bolton, babysit the girls Saturday night and crash in their guest room, then roll back up the mountain to instruct Sunday. Saves time, saves gas, brings in money the whole time!!
Yes, I’ve made some progress: I managed to get more freelance work on a regular basis. This should generate a steady flow of extra income each month… which is a good thing.
So far, I’ve mamaged to have two streams of income:
- a steady income from my 20 hour/week job, which covers my monthly rent and living expenses
- a regular flow of income from freelance assignments.
By reducing the hours I work at my steady job, and increasing the hours I spend on my freelance work, I’ve managed to generate more income. This is a great step forward, which has given me much more freedom!
This year, we also want to buy a house, which will bring usconsiderable financial advantages.






