It’s the last Saturday morning in February, and like investment nerds all across America I was waiting for the release of Warren Buffett’s annual shareholder letter. You can download it for free from Berkshire Hathaway’s website. I always enjoy Buffett’s annual letter, but I’d venture a guess that most readers of this blog do as well. If you’re looking for another annual letter that provides insight into the financial industry, check out Jamie Damon’s (CEO of JP Morgan) when it becomes available later this spring.
While relaxing on this rainy and cool Saturday morning, I’m was thinking about money in general…..and how we each use it for our own devices. Some folks are trying to accumulate money to buy fancy things, some to tell their employers to shove it, and some to buy time and flexibility to do as they wish. (There are thousands more specific reasons, but you get the idea.) For my wife and I, it’s all about flexibility. There is an often used cliché that, “money can’t buy happiness.” I don’t disagree, but I think the cliché is incomplete. Money can buy flexibility, which is what my wife and I are seeking. She has always wanted the freedom to spend most of her time at home with our children and we have achieved that goal. She is very happy and it feels good to see her so happy. Once the kiddos get a few years behind them……….our goal is that I leave traditional employment and get back to having the time/flexibility to write, volunteer, and travel. I gave that lifestyle a test run in 2014, and it was OUTSTANDING!
So how do we intend to make that happen?! By utilizing multiple streams of income, and keeping as much of that income passive as we can. I have a day job, but as I recently wrote……it leaves little time for the things I really enjoy in life. So we have:
Invested in quality growing businesses (SEE A FEW WE ARE LOOKING AT BELOW)
Generated affiliate income from this blog (THANK YOU FOR USING OUR AMAZON LINK)
I write for online financial magazines to generate side income
The missing components are real estate income and recurring royalty income. We’re working on a plan to incorporate these two in the near future. Obviously, passive revenue streams are best, but flexible revenue streams like freelancing and writing are pretty good too. We’ll post a more comprehensive plan, once we settle on one. For now, it’s satisfying to see our results moving in the correct direction. Now for some investment prospects…… Continue reading