Multiple Streams of Income.
And no, I don’t mean diversifying income streams between ex-husbands, current husband, and boyfriends. (Tricky, but do-able.)
There is Magic in Multiplying Multiple Streams of Income!
There’s a tongue twister for you.
If one were to want to twists tounges, tongue twisters would actually not be my first choice.
But today it is – and mostly because I really REALLY want you to consider this for your own life.
It’s silly because everyone has actually heard of this, and few – very few actually practice it in reality. I would say most of us still have one, maybe 2 or 3 TOPS for streams of income.
Many books have been printed on the subject, and most of us have read them, or at the very least grasped the concept of why this would be of benefit to us.
So, why haven’t you taken the time to DELIBERATELY create for yourself multiple streams of income?
I have ZERO problem telling you that I could very well be the Queen of this topic and I didn’t even realize it until I sat done one day and I counted how many streams of income I have and it totally shocked me!
I have 25 different sources of income that pay me randomly, monthly or yearly from the 5 different areas (see below). I had no idea that I’ve been building this since I was 20-years old subconsciously until I really wrote it all out.
This isn’t bragging at ALL because some of those streams only pay me $5.00 per month (another one pays me $25.79 quarterly), and a majority of them make me a few hundred, and only a couple bring me in thousands per month, so I’m not going to sit here saying it’s easy to do this or pretend I make thousands/millions from each of them.
Point In Fact: It’s taken me 17-years to build up these multiple streams of income and the really good ones I’ve just started in the last 3 or 4 years which are still baby streams of income soon to grow up.
Here’s what I really want to encourage you in today.
Developing and planning out all your possible streams of income that are available to you in your life.
They are probably going to come in 5 basic areas, and then you can have many in each category:
- Job (where you trade time for money)
- Investments (multiple husbands and boyfriends would fall into this category)
Within those categories, there are literally unlimited amounts of sources that can provide you with money each month or each year.
So why diversify your income?
The same reason you diversify your portfolio, your ASSets.
To mitigate risk. Reduce the chance that you will have all your ASSets totally exposed.
AAAAANNNNNDDDD…… Let me be VERY VERY clear on a couple other things in relation to this first:
ONE) When you do create multiple streams of income make sure that you love them and they aren’t pulling at you from all directions. I’ve made this mistake many times before! They have to match your energy. Don’t be pulled in too many directions.
“The Man (aka. GORGEOUS HOT BABE) that chases two rabbits catches neither.” – slightly modified Chinese Proverb
If you hate getting calls about broken toilets in the middle of the night, then please don’t buy rental properties if it’s not something you truly enjoy! Everything you do has to be in alignment with you and ONLY you. Don’t get sucked into other people’s ideas for you – they usually suck. In other words, be selfish & true to what you want your life to look like.
TWO) A note on control (I love control, if you haven’t guessed it!): Things, such as commissions, selling products for companies where you don’t own, control or make the actual product (from skin care to insurance to investments to pipelines) or you have to be “licensed” or even think of condominium/strata boards where a special assessment could be lurking at any given moment (been there, done that!) – THESE THINGS – you don’t control, be aware of that. At any minute you could be at the mercy of a company that doesn’t put you first, technology advances and puts you out of a job, or the company folds and leaves you in the dust after the years you put in with them. These things leave you exposed and financially naked!
The only way to make sure your income is truly in your hands is to create streams of income that are more so in your control versus not. Trust me my loves, this has been a huge wake-up call for me over the past 10-years. Things like writing and self-publishing books, selling a course or workshop, even buying a house, over say a condo controlled by a condo/strata board, provides you with more control as far as the income stream goes.
I’m not saying any of this is bad at all – I make my living as a licensed insurance & investment advisor with more than 10 overseers of those licenses, so I’m very aware of the fact none of that is really my own business. Same goes for small businesses – does all your company’s income come from one or 2 contracts or sources? Do ya get what I’m putting down here?
I mean, let’s be real. The whole reason to create multiple streams of income is that we really don’t have control over anything (as much as I like to control EVERYTHING), so what we are really doing is diversifying our risk so not all our income is on one basket. (And after the crappy week I had, I’m so thankful I had multiple streams of income created in my life, cause let’s face it… life never ever goes as planned!)
Gosh, I could talk all day about this topic!
How many different, creative, unique, crazy, ways can you create income?
On that note, there is one responsibility you have. Seriously.
I believe it is our responsibility to make a mind-blowing amount of money.
It’s available to all of us AND easier than ever before.
And, I will never say it’s easy, it takes years to do – but it will be worth it!
So my loves, this is my bottom line today:
Go out and multiply!
PS. If you want to learn more about this topic, you gotta make sure you are part of my amazing community! Check that out here —> financialbliss.ca