T Harv Ecker says not to "drink from only one river". In other words, regardless of what you do for a living, everyone should be involved in creating multiple streams of income.
Only 20 ago, if a person wanted to earn a second stream of income they would have had some very limiting possibilities.
1. They could get another job. But let's be real - another job usually pays less than your first AND you have LESS hours to sell for money. Your income is still controlled by how many hours you personally have available to sell for a wage. Another big downer - you have very little time left for yourself or the people you love.
2. They could start a business. Pre-internet, that meant investing a few thousand dollars into starting a business. This possibility was available to the top 5% who had the resources available to take this path. And, once again, you certainly have very little time left for yourself and the people you love.
3. The could invest in the market. A top financial adviser told me this year, if you don't have to invest in the market (stocks especially), than don't. You never know what is going to happen - invest your money in places where you know it will come back to you and multiply / not places where you "hope" it will do that. He showed me examples of two portfolios: both were sound choices of investing according to industry standards yet one at the age of retirement had less money available than was originally invested. So much for retirement after 45 years of working... If you're a big risk taker than play the lottery. Also, never take investing advise from someone with out examining their investing choices.
Those were the limiting choices for creating multiple streams of income. Now, the internet makes it so easy to have a second source of income. The playing field has been leveled and people are allowed to compete more for the market. It's not even hard to do anymore. Your options to create more income have changed from limited to limitless.
A good exercise to examine your situation is to think about the following situation: If something happened to me or my job, how long would I be able to sustain my current lifestyle? Is my house bigger than my wallet? Would I need to borrow money? Would I depend on government money / government benefits? If you are at the mercy to your answer, than you need a SOLID PLAN B or multiple streams of income.
Some people are rich and others work to "pay their bills". Some people "get it" and others are pawns in their plan for success. Which person will you be? You no longer have to play into the system that holds some people up and keeps others down. You decide which direction to move.
Love and Peace,
SR
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