Sure, we got annoyed by the proverbs mom issued on the regular. She constantly said, “You need to make sure you have multiple streams of income from a variety of sources.”
Okay, she didn’t actually say it that way. She simply said, “Don’t put all your eggs in one basket.” Of course, she wasn’t the first one to say that. As far as I can find, that tiny pearl of wisdom has been around at least since the 1600s and there are likely variations of it dating even further back than that.
Yet, the adage is as relevant as ever, especially as it pertains to income. The key to financial security and freedom is to have many streams of income from a variety of sources.
I have never felt more free or more secure than I do today because of that age-old maxim. While many others were over there being completely paranoid, counting on “job security”, whatever that is, (aka one source of income), we were over here making a lot of safe money through a wide variety of income streams.
If you love your sanity -- and you want to keep it -- then you have two priorities: Security and freedom. And these days, anyone with an internet connection can have both. Anyone. You can build these into your life and business with complete integrity and you’ll never have to cheat or worry.
Let’s break ‘em down.
When you gather income from multiple streams, one may fail, but the others keep flowing in. In fact, some of these streams WILL fail. That’s life. But when that happens, your security stays intact because you’re drawing from a variety of sources. So don’t collect dollars. Collect income streams.
Tech and trends are always changing and that makes everything feel shaky. But only if you fall behind in the knowledge economy. The key is staying up-to-date and relevant. And anyone can do it but it takes effort. The information is there, you simply need to collect it. Knowledge is power in the knowledge economy and the leverage of knowledge always offers financial security.
Money can be bossy. It loves to bully worker-bees around all day long. And if you have all your eggs in the one basket of a job, then you cannot possibly be free. Your financial life and personal creativity will always be under the scrutiny and subjugation of the boss. You’ll be trading time for money and always under the watchful eye of a higher-up. That’s not freedom. That’s a form of servitude. Maybe it’s time for you to begin thinking of creative ways to make a break for it.
What are you good at? Surely there’s a way to monetize it. You can either slave away to build someone else’s dreams or you can start working for your own.
If you have a business idea, reach out to me. I know how to help you get it off the ground. Or, if you already have some things in motion but feel stuck, I can help you with that too.