Investments Archives - Boomer Passive Income

28Mar 2024 by Bill

Are Passive Income Investments Risky for Baby Boomers?

Investments

As retirement approaches, many baby boomers are seeking ways to supplement their income and ensure financial security in their golden years. Passive income investments often emerge as an appealing option, promising a steady stream of income without requiring active involvement. However, are these investments truly safe for baby boomers? In this article, we'll talk about passive income investments some of the risks associated with them specifically for the baby boomer generation. As always, this isn't intended to be financial advice, it's just an information article to help you understand some of the risks. Please always consult your financial advisor, CPA, or retirement planner for actual financial advice. Definitions: What is Passive Income? Passive income refers to earnings derived from sources in which an individual is not actively involved, typically requiring…

09Mar 2024 by Bill

Can you build Passive Income and Create Legacy Wealth?

Investments

Building passive income streams is a great way to create income, but can you also create legacy wealth at the same time? My answer is absolutely yes! In today's rapidly changing economic landscape, it's crucial to explore alternative avenues that not only generate passive income but also pave the way for creating lasting wealth that can be passed down to future generations. In this blog post, we'll dig into the significance of building passive income and creating legacy wealth and why both of these need to be components of your financial strategy. Why Passive Income and Legacy Wealth Should Be Part of Your Strategy: Passive income and legacy wealth are not just financial concepts; they represent fundamental pillars of financial freedom and generational prosperity. While active income requires continuous effort…

03Mar 2024 by Bill

YouTube for Passive Income? What you need to Know!

Investments

YouTube has become a popular platform for content creators to share their knowledge, skills, and creativity with the world. Many people are drawn to the idea of starting a YouTube channel for passive income, but is it really as easy as it seems? In this blog post, we'll explore the ins and outs of starting a YouTube channel for passive income, including the steps to create one, choosing the right niche, and understanding the time and effort required to build a successful channel. Challenges in Starting a YouTube Channel for Seniors or Baby Boomers: Starting a YouTube channel can be an exciting endeavor, but it also comes with its fair share of challenges, especially for seniors or baby boomers. Some of the common hurdles include: Technical Know-How: For those who…

25Feb 2024 by Bill

10 Investments That Make Money While You Sleep!

Investments

Welcome to my blog, where I share insights on how to build wealth and achieve financial freedom. Today, I want to talk about a topic that's close to my heart: passive income. As an entrepreneur and investor, I've learned that having multiple streams of income is crucial for long-term financial success. In this post, I'll discuss the importance of passive income and share 10 investments that can help you make money while you sleep. Why Multiple Streams of Income Are Important Having multiple streams of income is essential for several reasons. First, it provides stability and security. If one source of income dries up, you'll still have other sources to rely on. Second, it allows you to diversify your investments and reduce risk. Third, it gives you more flexibility and…

12Jul 2019 by Bill

What is a 401k? Should I Have One?

Investments

Money Ted Benna is credited with first using a obscure provision in the tax code to create a simple, tax-advantaged way to save for retirement, the 401k. This happened in 1980 and love it or hate it, we've had a significant shift from defined benefit plans to 401k plans. Most private industry employers either don't have a defined benefit plan any more or have scaled it back significantly. Defined Benefit Plan Pre 1980, many companies offered a Defined Benefit Plan. Essentially this plan gave employees a retirement paycheck after working 30 years for the same employer. While it was more prevalent, it did have some problems. Key was that many companies didn't fund their retirement plans adequately. When that happens, the fund essentially goes bankrupt and those employees who were…

Category: Investments