Discover Your Retirement Number

September 22, 2021

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Rich & Kristina Messenger

Rich & Kristina Messenger

Senior Vice President



McKinney, TX

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July 26, 2021

6 Viable Passive Income Sources

6 Viable Passive Income Sources

The idea of having a passive income is something that many people dream about.

That’s because it means you can earn money above and beyond physical hours of work that you might put in! And there are plenty of ways to establish a passive income. In this article, we’ll discuss 6 different sources of passive income and how you can take advantage of each.

1. Rental income. This could come from renting out a room in your home, a basement, or a property you’ve purchased. The income from your tenants can help cover maintenance costs and provide you with a reliable, consistent source of income. It’s a simple, classic cash flow creator.

But it’s not perfect. Buying properties may require you to borrow money, which can create risk. Furthermore, managing unruly tenants can be time-consuming, taking the “passive” out of passive income.

2. Affiliate marketing. What if you could get paid to sell someone else’s products? It doesn’t get much more passive than that. Affiliate marketing is where you simply place a link to a product on your social media feed, YouTube video, blog, or website. You get a cut of the profit every time that link leads to a sale.

Just know that affiliate marketing works best for those with some measure of online following—more eyes on your affiliate link means more potential clicks!

3. Create ebooks and courses. Online educational content isn’t the purest form of passive income—it requires upfront work to research and create. But once they’re published, they can provide regular extra cash. Just be sure that you’re creating content on a subject matter you’re familiar with!

4. Blogging. Overwhelmed by writing an entire eBook? Start with a blog! It’s a simple way to get your ideas down on (digital) paper AND generate some ad revenue at the same time. Just remember, blogging may have a long lead time before it becomes profitable.

5. Peer-to-peer lending. Investing in loans has been around for ages—and with peer-to-peer platforms like Lending Club or Prosper, investing can be done quickly online. It’s a simple, quick way to earn interest on the fly.

But be warned—putting money into this type of service could be a substantial risk. There’s no guarantee that your creditors will repay their debts, which could leave you out to dry. So while it’s a viable option for passive income, it may not be 100% safe.

6. Start flipping! And I don’t mean doing gymnastics in the park (though that could earn you some cash—maybe). Instead, hit up a local thrift store. If you see a find that catches your eye, check to see how much you could sell it for on eBay or Craigslist. You might be surprised by the price difference! Buying at the thrift store and selling online could result in a serious profit.

This isn’t a fully passive income—it requires some investment and time searching and shopping for items. But it’s far more fun and feasible for most than real estate or writing an eBook.

So what are you waiting for? If you have the skills, time, and patience for it—then go for it! You might be surprised by how much you can earn with minimal effort.

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September 24, 2018

Can you actually retire?

Can you actually retire?

Retirement is as much a part of the American Dream as owning a home, owning a small business, or just owning your time.

It’s built into the American psyche.

Many while away their working lives dreaming of the day they won’t have to wake up to a jarring alarm clock, fight rush hour traffic, and spend their days trapped behind a desk.

No matter your retirement dream – endless golf, exciting travel, or just hanging out with the grandkids – will you actually be able to pull it off? Will you actually be able to retire?

Sadly, about 25 percent of Americans say no, according to a survey[i] by TD Ameritrade.

It turns out there are some reliable indicators that you may not be ready for retirement. It’s time for a reality check (and some tough love). So roll up your sleeves and let’s get honest. If you regularly practice any of the following financial habits, you may not be able to retire.

You spend without a budget: Do you have a budget? Are you spending indiscriminately on anything that tickles your fancy? Living day to day without a budget – especially if you are approaching your middle years or later – can wreck your chances of retirement. Commit to creating a budget and stick to it. Overspending now can turn your retirement daydream into a nightmare.

You’re not dealing with your credit card debt: If you struggle with credit card debt, you must have a plan to attack it. Credit card debt can cost you money in interest payments that could be funding your retirement instead. If you’re carrying credit card debt, get rid of it as soon as possible. Stick to a payment plan, be patient, and remain diligent. With time you’ll knock out that debt and start funding your retirement.

You’re not creating passive income: Being able to retire depends on whether you can generate income for yourself during your retirement years. You should be setting up your passive income streams now. Your financial advisor can inform you about options you might have, such as retirement investment accounts, real estate assets, stocks, or even life insurance and annuities. Make it a goal to formulate a strategy about how you can generate income later or you might not be able to retire.

You’re pipe dreaming: Ouch. Here’s some really tough love. If your retirement plan includes so-called “get rich quick” scenarios such as investment fads, lottery winnings, or pyramid schemes, your retirement could be in jeopardy. The way to retirement is through tried and true financial planning and implementing solid strategies over time. Try putting the 20 dollars you might spend each week on lottery tickets toward your retirement strategy instead.

A great retirement life isn’t guaranteed to anyone. It takes planning, sacrifice, and discipline. If you’re coming up short, make some changes now so you’ll be ready for your retirement life.

This article is for informational purposes only and is not intended to promote any certain products, plans, or strategies for saving and/or investing that may be available to you. Market performance is based on many factors and cannot be predicted. Before investing, talk with a financial professional to discuss your options.

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