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Creating a Recurring Income Plan
Creating a recurring income plan is essential to achieving financial freedom. A recurring income plan outlines your financial goals, the type of recurring income you want to generate, and the steps you need to take to achieve them. Here are the steps to create a recurring income plan:
1. Set your financial goals, such as paying off debt, saving for retirement, or building an emergency fund.
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2. Choose the type of recurring income that fits your goals and lifestyle.
3. Research your niche and create a product or service that solves a problem or fills a need.
4. Develop a marketing plan to reach your target audience and build a customer base.
5. Automate your income stream by outsourcing, hiring employees, or using technology.
