- FIRE Financial Independence, Retire Early, Side Gigs, Teaching and Coachig, working from home, writing
Money Mindset Makeover Challenge-Day 20-Multiple Streams of Income
You’ve heard the saying about not putting all your eggs in one basket. Some people apply that to their investments which is a great idea. Diversifying where your hard earned money is placed. For some that’s stocks, bonds, real estate, and commodities. If one market goes down, chances are the others will be strong and protect a portion of your assets. Another thing this saying can be applied to is how you make money. If all your money is coming from your full time job and you lose it, then what happens? 2020 taught us that things can change and change quickly. Sometimes we have no control over the change…
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Multiple Streams of Income
I’ve been working for myself for twenty years, dappling in some sort of work that brings in extra income for close 25 years. One thing I’ve learned from fellow entrepreneurs is you need to have multiple streams of income for those just in case times. Trends come and go, businesses take off then fail, recession hits and all three can take their toll on your bottom line. I’ve always followed the multiple income stream theory and I think it has kept me afloat many times. However, recently I’ve been wondering if it’s such a great thing. Besides my writing, teaching and coaching, I have t-shirts I sell on Merch by…