I diversify by spreading my writing over several open-submission sites, a small number of high-quality clients, and a couple of my own domains. I'm working on a book now, which I'm hoping will stabilize things a bit more, and even minimal success there will ensure another book follows. It will start as electronic only, but doesn't have to sell many copies to justify a small paper run. Basically, I've been trying to do as much for recurring income as possible, but do enough work-for-hire to keep the bills paid. As finances allow, I'll also be putting more into investments for just a little more diversification and, hopefully, separate those dollars from hours a bit better too.
That's a great plan! What are you using for electronic publishing? If you don't mind me asking. I've had requests for an ebook of some of my web site advice.
For now, Amazon publishing . I've ghost-written a couple of eBooks for clients that have done well there, and the platform is easy enough to work on with relatively basic formatting expertise.
Mainly, my writing income can be divided into three major segments:
1. My freelance writing services that I offer to various clients.
2. My HP income (not much, but it definitely takes off a huge share)
3. My blog income (which I'm just starting out with)
The idea is to build a passive income stream (recurring income) in the long run. In the meanwhile, my freelance writing services help me for monthly expenditures.
Apart from that, I do have a few major things planned - including a few eBooks. But that'll take some time. Hopefully, after a few years, I'll be able to live off of my recurring passive income.
I get most of my writing income from self-published books, earning what would probably be considered a middle-income salary from them. I'm not really that active on HP or any of the other online writing sites any more, so I only make a pittance here and on similar sites in comparison.
In addition, I make some money via AdSense and affiliate marketing, but nothing to really brag about. I'd advise those trying to find other sources of income (outside of just writing) to first look at dividend income - there are some solid blue chips that have been paying (and increasing) their dividends annually for decades, so it can be viewed as a pretty good bet in a lot of ways. You can also look at offline passive income businesses, eg, you can start a vending machine business with just a few hundred bucks.
by John 4 years ago
Just curious. I did meet someone who used to make a living writing on Squidoo before they made some changes. I know some people on Bubblews who live in some "third world" countries that make enough on there to survive as well. It seems reasonable to me that there are at least a few...
by Atell Rohlandt 6 years ago
Are you working towards a significant passive income?I realized recently that there's potential for me to earn a significant passive income using Hubpages, if I keep writing more content. I'd have to be consistent in my efforts, and I'm guessing it will take a lot of time, but it's doable. Are...
by Clive Williams 3 years ago
Has anyone written for Wrtedge or Infobarrel? If s what are your experiences?
by Stephanie 5 years ago
If you make a living online, how do you diversify?Everyone always talks about the importance of diversification. How do you do it?
by sethpowers 6 years ago
Has anyone had any luck with eLance?I've just recently started here on HubPages and am beginning to see my earnings grow, but I am eager to branch out into other means of passive income. Anyone tried eLance or know any other sights that would provide a passive means of income?
by bankscottage 6 years ago
What is your definition of passive income?I have seen a few Hubs recently refer to earning passive income from doing things, including writing Hubs. To me, passive income is what your get for doing little or nothing such as dividends from a stock or interest on a savings account. It is...
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