Build up your savings in case of a job loss — but be ready
with additional income sources.
Not exact matches
An
additional source of
income for transport companies,
with minimal fleet disruption.
Filed Under: Make More Money Tagged
With:
Additional Income, Diversification, Economics, economy, financial future,
Income Source, Job, Job Interview, management, Protect Your Finances, Protecting Your Financial Future, unemployment, Your Financial Future, Your
Income
Most passive
income sources will require an initial time investment to get the business started, but once it is created and operational — you should continue to earn money
with little to no
additional work.
But being flexible
with the spending, using the CAPE - based withdrawal rule (https://earlyretirementnow.com/2016/04/15/pros-and-cons-of-different-withdrawal-rate-rules/),
additional sources of
income including rental
income, one should be able to weather that storm too.
Business owners can fund a buy - sell agreement
with life insurance to provide an
additional source of
income if an owner dies.
Once you have an estimate of your financial obligations, subtract the sum of
additional financial resources available to your family members, such as
additional income sources, investment accounts and accumulated savings.2 Bring this estimate
with you when meeting
with an insurance professional.
In today's economy, many homeowners are looking for
additional sources of
income to cover those out of the blue expenses that come
with owning a home and any other unexpected costs.
Secondly, you may want to consider supplementing your real estate
income with other
income sources that will bring you
additional experience in the industry.