Income Diversification
Track Your Income Streams
Manage and visualize all your income sources in one place to understand your complete financial picture
Types of Income
Active Income
Salary, wages, freelance, gig work
Investment Income
Dividends, interest, capital gains
Rental Income
Real estate, Airbnb, room rental
Passive Income
Royalties, affiliate income, digital products
Why Diversify Income?
- Financial security if one source dries up
- Faster path to financial independence
- Tax optimization opportunities
- Build wealth while you sleep (passive)
- Reduce stress about job loss
Did You Know?
Millionaires have an average of 7 income streams
65% of self-made millionaires have 3+ income sources
Income Streams Tracker
Ideas to Add Income Streams
Side Hustles
- Freelancing (writing, design)
- Consulting
- Tutoring/Teaching
- Gig economy (Uber, DoorDash)
Investments
- Dividend stocks
- Index funds
- REITs
- Bonds/CDs
Rental Income
- Room rental
- Airbnb hosting
- Rental property
- Storage space rental
Passive Income
- Digital products
- Online courses
- Affiliate marketing
- Royalties (books, music)
Frequently Asked Questions
Start with 2-3 income streams and grow from there. Quality matters more than quantity. Focus on streams that align with your skills and time availability. Millionaires average 7 streams, but they built them over time.
Active income requires your time (job, freelance). Passive income earns while you sleep (dividends, rentals). Most passive income requires upfront work or capital. Start with active income to fund passive investments.
All income is taxable, but rates vary. W-2 wages have taxes withheld. Self-employment income has 15.3% SE tax plus income tax. Investment income may qualify for lower capital gains rates. Rental income has unique deductions.
Start by maximizing your primary income. Then add a side hustle using skills you already have. Invest in index funds for passive growth. As you earn more, explore rental properties or building digital products.