6 Income Streams That Every Woman Should Start Now
by Kisha Mays
Closing out Female Founders Month is Memorial Day. Yet the nearly 2,000,000 female veterans (according to the VA) are often forgotten once their service is over.
Less than 2% of Female Founders get VC funding and that will be even less going forward with the closing of SVB and First Republic Banks.
Most Female Veterans and Female Founders only have 1 income stream and that will be the death kneel to many of them with the next coming recession.
There are 6 income streams they can start now to start building multiple streams of income. And a $2 million grant to help support those female veterans and entrepreneurs.
Here are the 6 income streams that every woman should start now to proactively save themselves and be their own SHERO.
1. Rental Income
Buy a property (single-family or multifamily property) to rent out for long-term tenants or short-term guests on Airbnb. The rental income will generally pay for the property and the right property will appreciate in value.
2. Business Income
88% of millionaires are self-made entrepreneurs. Build a business on your own or buy a franchise. Put in the time with consistency to build it. Ironically enough, recessions are the best time to start & scale a business. But even if we’re not in a recession, start NOW!
3. Side Hustle Income
Teach a skill, develop an online community, Rent your car on Turo, start a house or office cleaning business. Basically, the side hustle is something that you do in addition to your job, and build it on the side until eventually it becomes your business income if done right. Or you could have multiple side hustles as some people do that to keep control of their time rather than work a regular job.
4. Dividend Income
Invest in dividend-generating stocks, but don’t fall for the dividend traps where stocks offer excessive “too good to be true” dividends. Do your research.
This is a passive income stream that you can earn years into the future. Licensing deals, publish a book, developing content, creating a patented product, writing a song, trademarks/copyrights, and more.
6. Capital Gains
Invest in appreciating assets that will gain value over time and sell for a higher price than paid. Such as Fine Art, Classic Cars, Collectibles, Cryptocurrency (always do your research), and of course real estate can be included here. The idea is to buy and hold long-term to make money.
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Want more? Just Fearless Women is on a mission with the purpose of helping a minimum of 1,000,000 women entrepreneurs generate a minimum of $1,000,000 in annual revenue by December 31, 2025. Find out more on their site!
Kisha Mays is a Successful Entrepreneur, Visionary Global Business Development Strategist, Best Selling Author, Inspirational Speaker, Powerhouse Producer, and so much more. Her primary focus is on helping to develop more successful multimillion-dollar global female-owned businesses through her company Just Fearless. She always pays it forward by supporting non-profits worldwide that specifically support & empower women and girls.