Most self-made millionaires have generated their income from many sources. At least three to five or more.
According to Tom Corley; http://richhabits.net/self-made-millionaires-have-their-eggs-in-many-baskets/
65% have three streams of income coming in, 45% have four streams of income coming in and 29% have five or more streams of income flowing through their bank account(s).
When one stream is negatively affected by systematic economic downturns, of which you have no control, the other streams can come to the rescue and help you survive the downturn, without dramatically affecting your lifestyle.
Most people only have one source of income, their job (Just Over Broke) or in some cases under broke. No money saved up to retire with and not enough savings for an emergency . In a blog I wrote on September 10, 2015 I discus about the great american dream and is it gone?
(At age 50 — 75% of the population has less than $5,000.00 saved up for retirement. Not to mention that if they were to take ill who’s going to take care of them? Medicare, Medicaid is not enough. Once you have worked so hard all of your life to earn your pension unless you’ve made a sustainable amount then you’re stuck with state-run care.) (I will not get on my soapbox about that issue)
Building your assets is no longer a luxury but a necessity! Having one stream of income flowing into your bank account isn’t cutting it. If you disagree with me then let me ask you, “How is it working for you”? Everything is rising in cost from food, mortgages, rentals are overpriced, gas and etc. Jobs aren’t even secure like they were when our parents and grandparents were young.
The average worker today stays at each of his or her jobs for 4.4 years, according to the most recent available data from the Bureau of Labor Statistics, but the expected tenure of the workforce’s youngest employees is about half that.Aug 14, 2012
Unemployment is NOT JOB SECURITY! The only income security really is multiple streams of income. Building more than one stream of income isn’t that hard. How hard you want to work for it is a different story.
Building Streams Of Income
One way is to build a residual income through network marketing. Network Marketing is now an 185 BILLION DOLLAR A YEAR BUSINESS. Mmm there must be something to word of mouth advertising to make it an 185 BILLION DOLLAR A YEAR BUSINESS! That’s bigger than the NFL, NBA, NASCAR, MUSIC INDUSTRY and even health care.
This is the income where you have other people create it for you.
— A network marketer builds a down line and receives a commission on them every month.
— A business owner who has employees working for them.
— Work from home and create wealth. So many internet opportunities are out there to earn money.
What’s right for you?
That is the question to ask yourself. Finding the opportunities to create multiple income streams is all about what your willing to do to have a wealthy stream flow.
Gain The Advantage!