I’m really in love with the idea of diversifying your income streams.
And I don’t mean “diversifying” as a means to survival – i.e. the single mother who NEEDS to work three low paying jobs to pay rent and feed her kids. It’s a shame that there citizens in this country that have to do that when there are others who live so extravagantly. But… we’ll save that discussion for another day.
I want to focus on diversification out of choice.
In other words, you have revenue from multiple sources, not because you need to. Rather, you want to.
Multiple Income by Choice
…Maybe you work a full-time job that more than pays the bills, but you’ve started up a small business that you work full or part-time on in the evening in order to scratch your entrepreneurial itch or with the future goal of making it your full-time gig.
…Maybe you left your day job and are a full-time freelancer and get your income from 2, 3, or 4 different avenues. No single creative endeavor can tie you down! You diversify because you have a ton of interests. I get that.
…Maybe you dabble in real-estate rental properties or in flipping homes.
…Maybe you have a marketable hobby or two that you make a few thousand a year on. You took something you loved and turned it into an income stream.
…Maybe you’ve amassed enough savings to actively invest and get a steady income from.
Whatever it is, you’re juggling a few different endeavors because you really wanted to.
Whatever your Story is, Please Share it!
Not only are these types of stories inspirational to everyone, but in today’s economy, they are a way to recession proof yourself. To be 100% reliant on your employer in a work climate that does not value employer loyalty is a big risk to take.
I’d love to hear stories about how you have diversified your income streams.
Please share your story and inspire us in the comments!