Turn Your Income Streams into a Mighty River
DO YOU KEEP YOUR INCOME OPTIONS OPEN TO SIDE PROJECTS IF THE MONEY IS EXCITING ENOUGH?
The majority of Americans rely on a single source of income. The entire sum of their personal earnings tends to come from one organization. This is what we know; this is familiar, acceptable, and the norm. The truth of the matter is - in today’s economy it’s very risky. When you invest would you put all your money into one stock? Of course not. If that investment preforms poorly or even goes belly up then you could lose it all. Therefore, you diversify your portfolio and reduce the risk. With a diversified investment strategy, if one stock performs poorly, it’s okay, because you have wisely spread your eggs into a variety of baskets, so you still come out on top. Single points of failure make life scary, so why do we casually accept a single source of income? You just never know when that source may dry up. Perhaps your company goes out of business, you get down sized - fired, or,.. the interest rate spikes and sells slow to a crawl. With a single source of income you may one day find yourself, well,.. broke, home-less, or worse, moving into your in-laws basement with all your kids. The legendary financial genius, Warren Buffett, cautions us and has said “never rely on a single source of income.” He urges us to find ways to bring in money from a variety of sources. He personally has 92 income streams. Success leaves clues. Many streams become a Mighty River.
Turn Your Income Streams into a Mighty River