{"id":2078,"date":"2016-06-29T00:15:25","date_gmt":"2016-06-29T08:15:25","guid":{"rendered":"http:\/\/www.cultofmoney.com\/?p=2078"},"modified":"2016-06-28T08:45:59","modified_gmt":"2016-06-28T16:45:59","slug":"best-way-diversify-income","status":"publish","type":"post","link":"https:\/\/www.cultofmoney.com\/best-way-diversify-income\/","title":{"rendered":"The Best Way to Diversify Your Income"},"content":{"rendered":"

\"EarningI\u2019ve always been interested in diversifying my income and the pursuit of passive income<\/a>. But while I had an interest in these things my ideas for achieving them used to be off-the-wall-crazy. <\/em><\/p>\n

I can now look back and laugh at some of the things I tried and reflect on some of the things that worked.<\/p>\n

When it comes to income diversification I\u2019ve now pinpointed what\u2019s worked the best for me and I think it can be a huge help to you, too.<\/p>\n

It all comes down to one principle:<\/p>\n

Make Your Income Sources Parallel to Each Other<\/h2>\n

Or, in other words build income sources off of each other.<\/p>\n

Let me tell you how it\u2019s worked for me so you can get a good idea. In 2012 I was an insurance agent. I was very good at getting people the best rates and understanding laws and limitations. What I was not<\/em> good at was selling. My introverted personality didn\u2019t quite lend itself to cold calling or anything of that nature. Due to this, earning commission on top of my hourly rate didn\u2019t work out too well.<\/p>\n

Instead of my beating myself up over it I started thinking about how I could use all of the insurance knowledge I had obtained to earn money elsewhere. I eventually came up with the idea that I could write articles for the blogs of various insurance companies for money.<\/p>\n

I started pitching companies via email and had a ton of success. Before I knew it I had all the writing assignments from insurance companies that I wanted.<\/p>\n

In the meantime I started my own blog and chronicled the process of getting these writing jobs. On the blog I also talked about personal finances. This led me to getting writing jobs in the personal finance field as well.<\/p>\n

I kept on writing at my personal blog and it began to grow. Within a year I was earning at least $1,000 per month from my blog plus getting paid to write. This led me to quit my day job.<\/p>\n

Fast forward a couple more years and I was making over double what I had from the insurance job and had several streams of income. Now, this year, I should at least triple that additional income and have five solid<\/strong> streams of income, a few of which are passive and require very little work from me.<\/p>\n

When I look back it\u2019s easy to see how one thing led to another and I was able to diversify. \u00a0(Despite the fact I kept trying crazy ideas that I wasn\u2019t that interested in and knew nothing about.)<\/p>\n

Start with What You Know<\/h2>\n

If you\u2019re looking to diversify your income<\/a> start with what you know and figure out a unique way to apply that knowledge or skillset in a new area.<\/p>\n

For instance:<\/p>\n