Tag Archives: covid 19

Streams of flowing income

What is Multiple Streams of Internet Income (MSII)? Why is it important to have MSII? – The Internet Income Academy

This time a year ago the entire world was turned upside down by a pandemic. Lockdowns ensued and people lost jobs, lives, and there was so much panic and confusion and uncertainty. Fast forward a year later and we are still feeling the effects of this ongoing issue in every way possible. One of the lessons that cannot be emphasized enough is the need for an alternative stream of income in the even one stream dries up there are others to keep funds flowing through into your accounts.

There are several different types of income, the first of which is the most common being earned income. We earn it by the hour, by the sale, by the project or by the salary. We get up most days to report to our employers to earn this income. The second type of income is profit income. When goods and services are sold there are costs associated. When businesses sell at a price higher than the cost incurred there is profit earned on the sale of the good or service. These are what are called active income streams because when one is trying to obtain income  they are actively pursuing it.

Another type of income earned is what is called passive income, this comes without action and money is made typically around the clock. One type of passive income is interest income from placing money in an interest-bearing account such as a high yield savings account or CD or any other interest-bearing products offered by your financial institution. (if you have not read my article on money market savings or CD accounts please refer to those articles for more information). Another passive income source is dividend income which comes from investments in stocks or bonds or mutual funds which pay out a dividend on a regular basis. This goes hand and hand alongside capital gains income from buying and selling assets can provide you with an income (you buy stocks and shares worth $100 and then sell them on for $120, the capital gain is $20.). Another passive income type is real estate income from the sale and renting of property to tenants and buyers. Lastly, royalty income from intellectual property such as books, film and music being sold or used by third parties. There are so many ways to make an alternative stream of income some big, small conventional or unique.

In light of this past year and the years to come, now more than ever, is this a time to keep an eye open for opportunities to obtain income. Diversification is useful in today’s times given the current state of the world. After reading this I hope this inspires you to open your mind to the different possibilities of generating income and maintaining a living in a way that works best for you. In the meantime, stay inspired and motivated. Excelscior!

A year in review

Goodbye 2020 Funny Illustration - Vector Download
Photo credit Vexels

As this year comes to a close let’s look back at the past year. Look at the world around us and the current circumstances. Look at your situation. Look at the road ahead. We live in an uncertain time with a plethora of things that can happen. Life comes hard and fast, but we cannot let things that are important to slip by in the rapidly accelerating stream of time. Things such as family and friends, your goals and dreams, your finances and future.

This year I made several posts on personal finance, taking a departure from personal development topics, in an attempt to raise awareness and education on financial topics that are often not taught and/or oftentimes neglected. Personal finance is an important topic that is not meant to be taken lightly. It is something that has been in our past, working in our present and shaping our future. This year I have shared my expertise and knowledge of finance from my education and expertise working in the finance sector for the past few years now.

I encourage you, dear reader, to read my past posts on personal finance if you have not already. These are very insightful topics that will help with gaining more understanding on this topic. It has been a delight to bring such material to a wider audience and gain more readers. I will be uploading more regular content in the upcoming year for personal finance as well as bringing back more personal development content for your reading pleasure.

Before this year draws to a close, I will share one last lesson for the year. And that is the importance of the emergency fund. In a previous post of mine, I mentioned the importance of establishing emergency savings. This year is the prime example of why everyone can benefit from an emergency fund. If one would not believe me look at the current state that we are in as a country and as a civilization worldwide. We live in an uncertain time and we must make decisions and investments and goals to help us out when we need it the most. From your insurance to your warranty, to your very own shoebox under the mattress if need be. Everyone needs their ace in hand at the ready because you will never know when it is time to use it. Stay healthy and safe dear reader. Happy holidays and I wish you a happy new year. Here is to a better year and a better road ahead through taking control of one’s financial future. Excelsior!

Opinion: Respecting our fellow human

just-my-two-cents | ...feel free to add any comment ...

This month I will be taking a break from the usual personal and professional development material to discuss a prevalent topic during these peculiar times. It has occurred to me based on what has been in the news, the radio, and the internet that there are a lot of things going on that have been rather stressful, aggravating, and just downright infuriating. From the #speakingout movement to the #blacklivesmatter movement that has been going on for some time, and even wearing a mask during the ongoing pandemic. One key factor that these events revolve around is the fact that there is a lack of respect in the world for our fellow man, woman, and children

There are people who disregard others lack of interest in their romantic advances to the point of where it causes others to resort to vile behavior and causing virtually irreparable harm to another physically, mentally or spiritually. There are those that work in law enforcement who disrespect minorities and treat them with unnecessary severity. There are those that say things that are uncouth about their political rivals and those who simply lack empathy for their fellow human. I Have discussed this topic in a presentation earlier this week and it rings clear. It is time that we as a people exercise more respect and empathy and learn a willingness to help those around us.

We need to recognize that if all status and recognition and money in the world were taken away at the end of the day, we all bleed the same blood. We are at a time where it is important to come together and work together. Let us learn to respect one another as well as ourselves in order to make life, especially in these times, a little more bearable. That is my two cents on the matter. let’s all do better and do our best for the future. Excelsior!

Taking a chill pill

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We live in a rather stressful and uncertain time. There are a lot of things happening during this trying time in everyone’s life now. Here in the good old U S of A we are used to the hustle and bustle of daily life but now everything is on a pause. Now is an opportune time to talk about something that is never really taken seriously, rest, and taking a moment to slow down.

Right now many things have been put on pause: visits to your favorite pub, café or restaurant, going to get your reps at the gym (see my previous post on no gym fitness), and even seeing loved ones. There is some good to be found during this time of uncertainty. People are getting creative in terms of cooking abilities, video parties with friends, and even finding ways to still stay in shape. It’s also important to use this time to spend it with our loved ones (even if you have to facetime or conference call them) and also take a moment to rest and take a moment to just recalibrate for when things go back to normal.

Our society has been defined by consistently being on the move. We’re running to meetings, conference calls, fundraisers, recitals, work, you name it. We never take the time anymore to stop and enjoy the smell of the flowers or the warmth of the sun. We see it and know it’s there but do not actually bask in it to truly appreciate it. Our constant hustle and shuffle keeps us from our things that matter most to us (you know what those are), enjoying small moments in life that we take for granted (like breathing clean air, the taste of the morning coffee you chug down without taking a moment to enjoy the smell and taste of it, or the feeling of the wind in your hair…or scalp. We’re always busy or busy bragging to the point where the word busy has become trite and bland.

During this time connect with your loved ones. Call up your grade school pals, learn how to perfect your homemade bread recipe, enjoy the taste of your favorite dessert and the sensation of the wind in your face if you go sailing/biking (since we can do that now in Michigan). Enjoy the moment to turn this lemon into lemonade. Take the time out to take the time and enjoy it as best you can.

During this time of uncertainty, take a moment to take a breath and make this rough period of time to recalibrate and enjoy the finer details of life and use the extra time to get creative and even learn new things. Let’s come out of this quarantine and period of uncertainty smarter, stronger, have more expanded skills, and become more cognizant of the need to take a moment to breathe.  Until the next time my friends, stay safe and healthy and Excelsior.