New Long Term Goal: Increase residual income to $1,000 per month

Now that I am more settled financially I am beginning to look into ways to boost my side income. I have always been on the lookout but now I have more time and energy to dedicate to it. I have several types of side income that I produce to move towards my goal of financial independence and extensive world travel.

My current side income avenues:

  • Interest Income: Savings, CD's, Bonds, etc.
  • Investment Income: Dividends, Gains on stocks/mutual funds
  • IT Consulting: Break/Fix work locally
  • Miles & Points: Churning Credit Cards, bonus promotions, flying for work
  • Focus Groups: Giving my opinions on products for money
My new goal is now to boost the income from the above activities as well as new ones I can start so that I earn an average of $12,000 per year from it. I am looking heavily at a rental property as an option to boost it. I am also researching investing strategies and looking for more IT consulting work as I can. I am constantly working on miles and points deals since they can create high value for travel.

If I can make this happen it will bring me a lot closer to financial independence. It is much easier said than done but I have to start somewhere. There are risks too that have to be weighed and managed along the way.