Multiple Income Streams

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cfbmemes_

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Going over my financial sheet and my goals I have a lot I want to accomplish. Just like every American that wants their house upgraded to the best they can, and buy some land, I am with them I want that. But I kind of also want my wife to stay at home. Over and over again I have heard that you need to be making money in your sleep, or to have multiple income streams. As a teacher this is definitely a necessity for me, but multiple income streams are a hard fish to catch. Here are mine, and I will be looking for more.

Teacher/Coach: $3100/monthly
Door Dash: $160/monthly 8 hours a month
Fifth Quarter: $50-$100 pending on the amount of articles I write

Of course I have a Roth IRA that isn't doing so hot, and a 7 Coco Cola Shares that earn a 3% dividend monthly lol. That sweet pension will be here in 21 years lol ( I am 29 now)

What are your multiple income streams????????????????????
 
I’m luckier than most. I have a military retirement check I get every month around $1600.00. You can’t live off of it, but it’s nice to have.
I have a good job making > $75k per year. I also have a nice nest egg in my 401k. I’m > 59 1/2 so I can draw on that penalty free if I want to. My home is paid for, my truck and two cars are all paid for. On top of that, being a military retiree, I don’t have to buy ridiculously high medical insurance.
I’m not rich, but I don’t have to worry too much about the everyday costs that most folks do.
I think I’ve done ok for a poor, dumb, uneducated redneck from the backwoods of Alabama.
 
RTR...USN (ret) said:
I’m luckier than most. I have a military retirement check I get every month around $1600.00. You can’t live off of it, but it’s nice to have.
I have a good job making > $75k per year. I also have a nice nest egg in my 401k. I’m > 59 1/2 so I can draw on that penalty free if I want to. My home is paid for, my truck and two cars are all paid for. On top of that, being a military retiree, I don’t have to buy ridiculously high medical insurance.
I’m not rich, but I don’t have to worry too much about the everyday costs that most folks do.
I think I’ve done ok for a poor, dumb, uneducated redneck from the backwoods of Alabama.
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You are a net worth millionaire at this point. You have told me before but how long were you in the military for?
 
CFBHome said:
Being a teacher in Florida we are supposed to receive 75% of our highest salary average over five years. Of course that is after 30 years put in.
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After retiring at 20 years, I get 50% of base pay at time of retirement. If the wife out lives me, she’ll get 25% as long as she doesn’t remarry. I have a nice insurance policy as well, so she’s taken care of for life. Damn… I’m worth more dead than alive 😂!
 
So I want to say that at 29 years old your head is in the right spot, do what you can to have a paid off house. Also, keep in mind, during retirement, medical cost including insurance and prescriptions are typically your biggest expenses, and they both appreciate, most retirement incomes don't. But if you plan, you will thrive, and it's a lot of fun when you can be a financially independent curmudgeon with no guilt and no filter :)
 
Bama Believer said:
So I want to say that at 29 years old your head is in the right spot, do what you can to have a paid off house. Also, keep in mind, during retirement, medical cost including insurance and prescriptions are typically your biggest expenses, and they both appreciate, most retirement incomes don't. But if you plan, you will thrive, and it's a lot of fun when you can be a financially independent curmudgeon with no guilt and no filter :)
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Great advice! I’ll also add, don’t try and keep up with the Smiths and Jones’s! Tryingto keep up appearances will put you in crippling debt quickly! The people you try to impress aren’t paying your bills. Also, If you can’t buy two of something, don’t buy one. Being able to buy something, and being able to AFFORD something are two entirely different things.
 
RTR...USN (ret) said:
Great advice! I’ll also add, don’t try and keep up with the Smiths and Jones’s! Tryingto keep up appearances will put you in crippling debt quickly! The people you try to impress aren’t paying your bills. Also, If you can’t buy two of something, don’t buy one. Being able to buy something, and being able to AFFORD something are two entirely different things.
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This...

And read this:

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Retired military after almost 27 years, so I'm lucky enough to clear a little over 4k a month in retirement pay. My state has stopped taxing military retirement, so that's nice..... Did some contract work supporting military exercises for the first five or so years after retirement and the pay was good (400+ bucks a day not counting lodging, travel and per diem), but I stopped doing that for a few different reasons. For now, I just do odds and ends kind of stuff that interest me......mostly pressure washing houses (for some reason I really enjoy doing that lol) when the opportunity/urge strikes. Like @RTR...USN (ret) I have the pay thing set up for my wife should something happen to me and have great health insurance. If I get in a bind, really all I have to do is enroll full time in college and my post 9/11 GI Bill pays 100% of everything and a full housing allowance, so going to college could be pretty lucrative for me lol.
 
iesheepdog said:
You military guys deserve every penny and benefit you get! Your wives even more so. Heck the wives should get combat pay for being married to you guys during your time in the military.
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I won’t speak for others, I just did my job. Military wives are amazing! Mine is rock solid, tough as hell, and can do whatever needs doing. Being a vet herself, she is fiercely independent and self sufficient. (She’s also a hell of a shot!) It’s a miracle she hasn’t killed me in my sleep, but it was touch and go a few times 😂!
Other service members had it much tougher than I did, and they deserve everything they get and then some. No matter what branch you served in I consider you my brothers.
 
OldDevilDawg said:
You won Atlanta. Frankly, I'd be happy if you burned it down again.
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LOL.

Worked at a place that had one guy took that took the civil war a little over the top. He would not travel north of the Mason / Dixon line and always telling us the south would rise up, etc.

A new boss came in and we had a first time meet and greet. The new boss knew about the one guys civil war obsession. The one guy asked the new boss why he moved south from the north and with a straight face told he moved down here to find out what his ancestors won. It went over like a ton of bricks.
 
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