If you have an early retirement goal or want to achieve financial independence so you have the option to retire early, you need multiple streams of income. Millionaires have 7 streams of income if you need a target.
But how do you make money when you already have a 9 to 5 job and feel like there’s already not enough time in the day?
You can get creative and make money online. Here are five simple ways.
Sell Items you Don’t Need
The days of traditional garage sales are behind us. Sure, you’ll see a few here or there, but most people sell their items online. Using sites like eBay, Facebook Marketplace, or Craigslist, you can list your items for sale and make some side money decluttering your house.
Start a Blog and use Affiliate Marketing
If you have a decent following and love to talk about your passions, start a blog. When you have a targeted audience, you can use affiliate marketing to make some money. Affiliate marketing means you advertise for companies that fit within your niche. If your audience uses your links to buy products or services, you’ll earn a small commission for the sale.
Start a Fiverr Gig
If you have the skills to write, create websites, do digital design, or any other online task, start a gig on Fiverr. You are in charge of all aspects including what you’ll offer in each package, how much you’ll charge, and the turnaround time.
You pay a small fee to Fiverr for using the platform, but you only pay when you earn money from selling a gig, and with their large audience, it’s easy to find business.
Start a YouTube Channel
If you like talking more than writing, consider a YouTube Channel. You can publish ‘how to’ videos, funny videos, or videos on any topic you’re passionate about. When you get enough viewers, you can monetize your channel, much like you can with blogging. Anytime someone uses your link to make a purchase, you earn a commission.
Take Market Research Surveys
You won’t be able to retire on the money you make from market research surveys, but if you do enough of them, the money adds up. The nice thing about these surveys is you can do them from anywhere, including your phone. If you have a lot of downtime to kill while waiting for the kids at soccer, or you spend a lot of time in waiting rooms, make a little money answering questions for brands and businesses who need to know what consumers think.
Bottom Line
Today it’s easier than ever to make money online. You just need to think about what you’re good at and what kind of time you have. With enough income streams, you may find it a lot easier to achieve financial independence and to achieve your goals of early retirement long before you thought it was possible.