Ideas for Your Own Diversified Wealth Plan: Here's How I Plan MY Wealth, Long Term

How can you go about structuring your income streams to diversify income? Here I present information about my current plan and structure in the most general terms so that you may apply it to your own situation and build wealth. These include passive and active income, dividend stock investing (through DSPP and DRIP plans) and more.

I have always thought about my income and wealth strategies as a series of diverse daily, monthly, or annual income streams. This is not a new concept, but I would like to expand on and share my particular diversification strategy. I generally have a “freelancer’s mindset” even though I’ve had a full-time day job for years. I don’t believe or trust the model of "job security," so I have been making plans all my working lifeDiversified Wealth Plans and Strategies to deal with the change that can arise when you work for someone else or for an organization. As the old financial saying goes, “prepare for rain, it always does!” At some point I hope to transition more to passive income and residual income, but this is my current how-to business model. This is an overview, with pros and cons, of my current income plan, streams of income, and plans to make more income: 


PROS: I have found it useful, prudent, and smart to maintain my full-time day job. In addition to the regular salary, I receive benefits of health insurance, life insurance, and a deferred compensation 401K plan which should provide some retirement income decades from now. I know many entrepreneurs take the leap of quitting full-time employment and scraping by, but I have found that I have more freedom to be creative with this buffer. Like many of you, I would love to make money online with an internet business to such an extent that my day job becomes optional, but that's not a reality yet. However, I am lucky in that I DO find my day job fulfilling. (That said, I often challenge myself to find new ways to keep it fresh, even if it means more work for me!)

CONS: There is no guaranteed pension plan. There is little implied job security other than the length of my employment. The history of my personal contributions to this employer, which I assume to be at times significant, are often lost when supervisors have left.


PROS: I have also had my own small business, related in part to my full-time expertise, set up on the model of a sole-proprietorship. Even when I need more help (which I often do), I find it easier to hire sub-contractors rather than maintain regular or part-time employees. This company has only required a separate checking account, separate credit card, website, and a permanent mail-drop address. All the services take place “on location” at a client’s place of business/residence. There has also been the benefit of occasional consulting work.

CONS: When I have wanted more work in this service area, or the related consulting niche, it has been difficult to generate. The work seems to come in at its own pace, and no faster.  



PROS: I have a few creative products that generate both a small trickle of sales, and some residual royalties. The benefit is a certain amount of credibility that goes to other areas of my working life.

CONS: Very small, inconsistent stream of income. The products were meant to drive the service business, but the connection is perhaps a little skewed, and they are beginning to seem dated. Closet full of material that sells at a snail's pace.


PROS: I have found it wise to diversify my day job’s retirement plan with an income portfolio of dividend paying stocks that I purchase regularly, including some DRIPS: Dividend Reinvestment Plans. I know I could just get a mutual fund, but instead have selected a handful of stocks based on my own estimation of their long-term stability, their growth prospects, and some relative consistency with their payouts.

I have even paid careful attention to the overlapping quarterly dividend pay schedules to make sure that I receive dividends in each month throughout the year:

For example, I am currently making small monthly purchases in Kraft Foods (KFT) and General Electric (GE), which pay dividends in January, April, July, and October of each year. I also get Banco Santander (ticker: STD) and Caterpillar (CAT), which pay dividends in February, May, August, and November. And finally I make small monthly purchases in Wells Fargo (WFC), Kellogg (K) and Supervalu (SVU) which pay in March, June, September, and December. (These small purchases are only economical because of the low fees of dividend reinvestment plans and direct purchase plans. Otherwise the transaction fees would be too high for monthly purchases, even with a discount broker!)

CONS: I currently receive no income from these holdings, but rather reinvest the dividends for the benefit of long term compounding.


PROS: I create web content, like this article here at InfoBarrel, for the exposure to Google AdSense and Chitika revenue, as well as Amazon affiliate marketing. I also have a couple low-producing blog sites, a few articles on HubPages, and a account. The benefit is the long-term growth prospects of the revenue streams, and the great passive income model of building something that continues to be viewed online. For me this also implies opportunities for niche sites and other projects. In the process, I learn about web content, online marketing, SEO, and more - including backlinking on Twitter, Facebook, LinkedIN,, reddit,, and others. I also dabble with, and maybe at some point will add, but have only just started to make money.

CONS: This seems to require a very long-term plan of interconnected, relevant useful content to generate significant income.


This is my current plan of income streams to build wealth: including "active" and passive income, web and residual income, royalties, a service business, consulting, and more. Best of luck with your own wealth building strategies.