As-is Future Income Streams
Earlier I took a look at my current income streams. Now I would like to take a look at what my income streams will likely look like in 2008 if I don't make any major changes.
The biggest difference would be the benefits of dual salaries with my fiancee's income. While we don't have a date set, I suspect we will be married before the end of 2008. This will bring a myriad of changes, the best financial one being the extra stream of income :-).
Other than the extra salary, not much changes. I anticipate that the income from our jobs, dividends and the side business will increase, but not enough to significantly change their portion of the income.
This chart looks a lot better than my current streams of income, but its misleading. My fiancee would like to stop working in a few years after we start a family. Once this happens, the income streams would looks much like they do today.
I see a few things I need to focus on to change this picture. Dividends, rental income, and the side business. Maintaining the status quo isn't going to cut it. I need to expand all of these areas to change the income streams for the future.
Related in Wealth Building:
Household Debt Snapshot September 2011 (Sep 12, 2011) Here is an updated snapshot of our current debt (all mortgages on our primary and rental properties). The last debt breakdown I provided was back in March 2011 with a total of $356,358. Loan Description Property Balance Payment Matures 1...
Updated Household Debt Snapshot (Mar 23, 2011) Here is an updated snapshot of our current debt (all mortgages on our primary and rental properties). The last debt breakdown I provided was back in April 2010 with a total of $377,596. Loan Description House Current Balance Matures 1...
Warren Buffett's Annual Letter To Shareholders (Feb 26, 2011) Berkshie Hathaway released Warren Buffett's Annual Letter to Shareholders today on their website. As always its a very good read for nearly any investor. My Key Takeaways Additional insight into BH culture. Warren clearly creates a special culture in Berkshire...