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Importance of Multiple Streams of Income



Growing up I did not know much about money aside from the basic earn it, spend it, or save it. My parents did not want me to grow up worrying about money so I never understood it fully. As I got older and moved out, went to college, and starting working full-time, I learned that money if not this difficult concept, nor is it this scary entity that will only cause trouble. A book that really helped me understand about money is the book "Rich Dad Poor Dad" by Robert Kiyosaki. If you have never read it, I suggest you read it immediately and comment on what you learned, liked, or disliked. Throughout reading this book I learned the concept that the poor work for money, while the rich make their money work for them. Essentially the way to become rich and stay rich, means that you need to find ways to make your money work for you. This can be in the form of passive income, investing, retirement accounts, lending money and then charging interest, just to name a few. The skies the limit when it comes to finding ways to make money work for you.


This leads me into the concept of multiple streams of income. All this means is that instead of just making money from working (earning a hourly or salary pay), you are also making money from other sources aside from your main job. For example, I work my main job, but I also make money off stocks, crypto, fixing and selling cars, and doing other side hustles. These provide me with additional streams of income without having to do much, if any, work. This is how you can make your money work for you and eventually begin making passive income.


Lets take this example, if I have 6 streams of income that make me $100 a day, I would have $600 a day. Multiply that by 30 days in a month, which equals $18,000 a month. Times this by 12 months in a year and you've made $216,000 in 1 year. At that rate, you could be a millionaire in just over 4 and half years. But honestly, making an extra $100 a day is not that difficult if you are willing to learn, put the effort in, and be creative. There are several things you can do online today that could easily generate you more than $100 a day. This is why having multiple streams of income is so crucial, and this is why the rich are rich, and stay rich. Millionaires, on average, have about seven streams of income.


If you want to find out how that can be you, or you just want to know where to start, comment, contact me directly, or click the link below! Stay awesome everyone and lets make it happen!

 

"Rich Dad Poor Dad"

https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194


"15 Day Challenge"

https://onlinebusinessbuilderchallenge.com/enter/enroll?aid=50684


"Insider's Guide" eBook

https://getthenewbook.com/enter?aid=50684


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