The long-term play for wealth is investment. That could either be from a business you’re running yourself or a partial equity stake.
If you’re running one yourself (which I believe is a necessity, since that’s how most of the wealthy earn it) then this matters less. However, if you’re hoping to proliferate income sources, you need to crack the $200k income mark.
This mark matters specifically because it puts you in the category of accredited investor. Accredited means you can write checks to startups directly and don’t need to go through another vehicle like a crowdfunding site, or have to be one of the lucky 35 small investors in order to qualify for Rule 506 of Reg 5.
The other way to become accredited is to be a millionaire.
I suppose this could be one silver lining to inflation (as long as your income is rising with it) is that it’s technically easier to become an accredited investor.
Anyway, if you’re right on the line of becoming accredited, and just need some additional side income to make it happen, make the leap. It opens a whole new world of investment opportunities.
Or just do what this guys says and invest anyway. Obviously not legal or financial advice: