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When this year started, I d explained why the consist stanley tumbler ent creation of passive income was a huge milestone for an investor. There are myriad ways an individual can collect passive income. If you can find a way to build up passive-income streams over time, you may never have to work again. Today, I want to discuss how this strategy can set you up for the future and give you some starter stocks to stash in a TFSA. Let s jump in.Why passive-income investing can set you up for lifeAs I d explained in the article linked above, there are many ways to collect passive income. Generat stanley polska ing royalties through a published book or other creative endeavour, collecting rental incom botella stanley e through real estate properties, starting a digital store through a platform like Shopify, and, of course, producing investment income. If you set up multiple successful passive-income streams, you may never have to work a day in your life again.For passive-income generation through investments, I like a Tax-Free Savings Accou Hauf TFSA Investors: Where to Invest $6,500 This Year
Investing in stocks historically gives higher returns than placing money in bonds, stanley water bottle  GICs, or the savings account. With higher returns comes higher risks. Here I will talk about two risks that come with investing in stocks and how to reduce those risks.In the Part 1 article and Part 2 article, I discussed about four risks of investing in stocks and how to reduce those risks. The risks are risk of capital loss, volatility risk, valuation stanley mug  risk and risk of un stanley termosar foreseen market crashes.In this article, I will discuss three more risks that come with investing in stocks.5. Individual Risk: Know your own TemperamentDon ;t let anyone else tell you how to invest. You don ;t know which style of investing fits you until you try it. Try out various styles that you ;re comfortable with and find out for yourself which fits you best! Perhaps you feel it s best if you had a portfolio of 50% dividend stocks, 20% growth stocks, 20% bonds, and 10% cash.For example, if you re starting with $17,5