Financial Success: Multiple Streams of Income
It has also been said that in order to achieve solid financial success and maintain it permanently, is to know the value of having multiple streams of income. Having many sources of income is very essential especially in these tough times where the economy is very unpredictable.
Even if you do have a good high paying job or a very successful business, never think that just pure hard work and living below your means will give you lasting financial success. Although you have made it big right now, if you do not value and take advantage of the power of having multiple streams of income, there will still be a big chance that you will not attain great financial success. We are not trying to discourage you but we are just trying to guide you to open your eyes and see the greater possibilities. No matter how much you try even if you strive and work hard to do your job or business there is no assurance that it will last. The downturn of the economy was unexpected and affected many people. Being aware of the current state of the economy and in control of your financial future is totally in your hands.
Let’s say you are working for a company for almost 30 years now and everything is well and your boss loves you. You have achieved so much from entry level to corporate executive with lots of benefits and incentives. You always did well with excellent performance and ethics. You never spent more than you earned by living below your means. You would probably think everything will be okay and you sill soon be on your way to financial success right? Well let us say one day a big global depression struck the world unexpectedly, shutting down a lot of big companies that are familiar to all of us. Would you think you will still get to keep your nice and comfortable job? No way! Even if the company does not want to downsize it will be forced to do so or else it will go bankrupt. When companies reduce their overhead costs they usually start getting rid of the high paid employees first, since doing so will have the biggest decrease in the shortest time possible. You may imagine the rest of the story because we know that you already have an idea of where it is going to end. So much for the goal of having financial success…
We hope you are getting what we are trying to imply here. That is how valuable having multiple streams of income is for lasting overall financial success. The same thing goes for financial success in business. Nothing is ever predictable so it is better to have different streams of income so that even if you lose your job, it would not affect you as much compared to just having one primary source of income. Nothing is certain and I truly believe that the best way to predict your future is to create it. Here is to your financial success…
All My Best,