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In the Way of Progress

I’ll admit that I’m a big proponent of green tech, especially so if it is not only economically viable, but profitable. So it was that I came across a recent article at CNN talking about how wind power has increased across the board and how some farmers are cashing in on the prospects. The newfound prosperity is not without its price, as some residents despise the towering behemoths. The sound and injury to the scenery are both sources of anger for some.

For me, there was one particular part of the article that stood out:

“Yancey and some of his brothers begged Ed Yancey to leave the family land untouched. But the elder Yancey pointed to the money — a minimum of $6,600 a year for every turbine. This is your legacy, he told them.”

If there’s one thing that we in the personal finance world stress over any other, its the creation and care of recurring streams of income. Establishing and nurturing these sources allows you to secure your financial independence, brings in money even when you’re not actively working. It detaches you from the 9-5 treadmill by providing you with a cushion of income through good times and bad. Investment income, recurring ad revenue, and as per the above, even putting wind turbines on your land all provide you with income that could sustain you and your family for years to come. How will you build your legacy?

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