Thursday, September 07, 2006

Multiple Sources of Income: Part One

So, you have a job, right? Good, that’s a start. But just having a job, even a pretty darn good job, won’t really make you financially secure.

The key to being financially secure is to spend far less than you make, and to save or invest the rest in something that will continue to provide income for you even when you no longer earn money from a job.

This post is an introduction to a financial lifestyle known as "multiple revenue sources" or "multiple income streams."

Basically, here’s the idea:

You should set up multiple sources of income for yourself, so if something to happens to one of those sources (example, you get laid off from your primary job) you will still have other sources of income on which to depend.

This could include investments, income from real estate, a second job, or earning a second income from internet marketing or blogging. All of these are valid sources of additional income. In the coming weeks, I will try to show you how to set up many of these income streams … even if they are very small amounts at first, the key is to establish and nurture them, let them grow and expand, and keep at it! Before long, one will be up and running on it’s own, and you can move on to setting up another.

Sign up for the RSS feed or enter your e-mail address over on the right to get notified when more articles post. Thanks!

No comments: