Summary:
When it comes to investing and retirement, have you heard the term "income streams"? But you aren't exactly sure what it means. I get it! There are so many terms out there when it comes to investing and retirement, it's enough to make your head spin.
"Income Streams" is actually pretty simple. An income stream is any source of money that comes into your checking or savings account. Typically while you're in the workplace, your job is your biggest source of income. But those paychecks go away when you retire. When that happens, you'll need to live off the money from other income streams.
Here are a few examples of what those income streams could be in retirement. By themselves, these income streams may not be enough money for a confident and financially independent retirement. However, if you put them together, you'll create a larger pool of money - and you'll be able to enjoy the activities you have dreamed of!
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