How Many Sources of Income Do You Have?

[Recyclersteve]

As someone who worked in the brokerage industry for almost 20 years and has followed the stock markets practically since the dawn of time, I thought of a different idea for a discussion topic. That is, how many sources of income do you have? Some might be thinking along the lines of "I only work one job and this is it. So, one is the answer for me."

Let me shed a bit more light on some of the different sources of income I have and you will likely say "Oh yeah, I do several of those things too, but didn't really think of it as an income source." I might be leaving something out, but here are 16 sources of income that I currently have. Note that I've grouped similar items (like those related to the stock mkt.) together as best I could.

1) Income from part-time delivery work.
2) Wife's social security.
3) Wife's pension.

4) Found money (Coinstar machines and on the ground- usually a very small amt., but it all counts).
5) Silver found in rolls at the bank and sold to dealers.
6) Free meals from being invited to financial seminars (usually only available to people 50+ who own their own homes) (usually over $1,000/year from NICE restaurants with absolutely no high
pressure sales pitches).
7) Free meals from people who are elated with stocks tips I gave that worked out well (this is just like the cherry on top- I absolutely don't expect it at all).

8) Profits from trading stocks in general.
9) Odd lot tender (and exchange) offers where owners of 99 or fewer shares of stock have a SIGNIFICANT advantage over really rich people.
10) Dividends earned from owning stocks.
11) Covered call premiums (cash) from selling covered calls on stocks I own.
12) Income from loaning my stock shares to short sellers.
13) Interest (over 5.2% now at Schwab) on their money market. If you have cash earning bank rates like 1/4-1/2%, please do yourself a favor and look into getting something much better.

14) Rental income (very minimal) as we are helping out family right now and charging a very low rate. Potentially this is a decent source of income.
15) Finding aluminum, brass and copper and taking it to scrap yards.
16) Finding things we can use at home, so we don't have to buy them. (This includes many items such as tools, vacuums and much more. Items not kept are taken to Goodwill.)

No I am nowhere close to being filthy rich. But it takes pressure off when you have multiple things to fall back on. That's the point I'm trying to make here.

What types of income does everyone else have? No, I don't expect someone to admit to profiting from dealing in illegal drugs on this site!

[ScrapMetal]

Many different sources of income, but as you allude to - Interest on my savings has once again pays my total mortgage payment. In 2022 it was around $600/year but in 2023 jumped to over $12,000/year. I know about inflation and all the losing power of cash, but it just feels good that I can believe the bank is actually buying my house for me.

[Recyclersteve]

I’m editing my original posting to include a 16th source of income. This is another stock market thing, namely odd lot tender offers and odd lot exchange offers. Basically, this is where the little guy with 99 or fewer shares of a stock has a DISTINCT ADVANTAGE over someone with even a $100 million net worth. It is perhaps the single best source of income that I found out about over the years and local friends have taken me to quite a few free lunches after profiting handsomely on these. My wife and daughter have both profited very handsomely as well.

[68Camaro]

Buying in bulk and or with coupons and stocking up on self stable items when they are cheap or on clearance. It's like an interest free high rate CD, plus you save in gas and time and wear and tear on the vehicles by not taking as many trips to the stores.

[thecrazyone]

1. Primary job
2. Change found
3. Items that I occasionally buy to resell

[Lemon Thrower]

I live below my means so its mainly my job and dividends from investments which I reinvest.

I am an empty nester so I am in the process of getting rid of stuff that I have accumulated. Selling on eBay and PoshMarket. I recently downsized houses and had an estate sale over 4 days and got a nice chunk of change.

I am avid reader and book collector. I used to have a store on Amazon selling used books. I would get these for free from the reject pile at used book stores (stores that buy books for cash or credit, but choose not to buy obsure titles - a lot of sellers just leave these at the store and the store puts them out front for free) or buy them for nominal amount at friends of library sales (booksalefinder.com). My best year I grossed $20K and netted $10K. It was about 10 hours of work a week but eventually was 10 more hours than I wanted to do on top of work and being a dad. I calculated my time once and I was getting a little better than $40 an hour a decade ago. A lot of folks like me got out of the business and book prices doubled, so it might be worth getting back in. Its the sort of thing where you really need to know how Amazon charges you though. You can sell on Amazon without using their FBA service but its a little more work on your end, takes up a lot of space, the books sell slower and the books sell for about half as they do than if sold Amazon FBA.

Amazon also changes some of their rules which made it less profitable for slower selling books that I specialized in. Basically they raised the storage fees for your books at their warehouse to penalty rates. I've been out of the game for close to a decade now. There is a guy named Peter Valley with some videos and a website about how to do this. He focusses on books that move fast. There is a lot of competition for those so its a lot more work (you reject a lot more books before you find one to sell).

Also, half of my wealth has come from real estate over the past 30 years. Generally I would buy a property and hold it and trade up for a larger property. Two properties were fixer uppers, 2 were not. What I found is that house value move very slowly if at all, and then 2 or 3 years ever decade they move up suddenly and roughly double. Not sure why it happens this way but the root cause is because the Fed is intentionally weakening the dollar to make it easier for Uncle to repay its debts. The corrollary for us is that you have to be in the market. As asset prices inflate due to the Fed, people who own assets get wealthier. Its particulary lucrative in the US where you buy with 5x leverage. My last house I bought with 10% down (10X leverage) and intentionally bought a much larger house than I needed.

Some of my investments have done well, especially bitcoin, but I look at investments as a way to preserve what I already own rather than a way to build wealth. Even with something "safe" like SP500 there is no guarantee it will go up. Over a long enough time horizon is should. But there is no guarantee. When you play the market like a casino is when you go home broke.

[Tourney64]

My pension
My SS
Wife’s SS
EBay sales
Stock Dividends
Race Horses - one that will probably be in the Kentucky Derby
Gambling
Atlas Earth Game
Investment Sales
Might be a book coming soon

[silverflake]

1. Primary job
2. Part time job
3. Wifes job
4. Interest on interest bearing instruments
5. Dividends on dividend paying stocks.
6. Selling covered calls and/or cash secured put options.
7. Capital gains on securities sold for a profit
8. Online survey taking.
9. Ebay sales.

[Recyclersteve]

6. Selling covered calls and/or cash secured put options.
.

I strongly prefer selling options (like silverflake does) instead of buying them. The selling takes advantage of the time erosion that naturally occurs.

[shinnosuke]

1. Primary job (PE director of funds/part-time)
2. Tree trimming (my oldest son owns the company and employs his brothers too)
3. Pick up every penny I find on the ground, in Coinstars, or in the return coin slot of pay phones (JK)
4. Donations to Goodwill/Salvation Army to increase charitable donations to decrease taxes owed to favorite three-letter government agency
5. Fold debit card. Every purchase earns bitcoin. I've made almost $3000 in BTC so far. If you want to earn free BTC, DM me and I will give you a code which will allow you to receive some bonus BTC.

Fold for the win.jpeg (592.15 KiB) Viewed 63 times

Bonus:
6. Very economical wife who prefers to ride in Coach class when traveling to see her parents in Japan. Mrs. shinnosuke is like a money machine.
7. Mrs. shinnosuke teaches art at UTSA