Always Have Multiple Streams of Income
One of my friends quit his job to play online poker about 2 years ago. He was doing exceptionally well, quadrupling his salary through a few hours of poker playing. All was well until a few weeks ago when online poker was banned. All of a sudden he found himself out of work!
As Robert Kiyosaki says, always have multiple streams of income [or was it that huckster Bob Allen???]. The same thing could happen to almost anyone in any profession. You could wake up one morning to find some stupid legislation has taken away your income.
Ok, maybe its not the same thing, but if you depend on any one source of income there’s a risk that you should try to mitigate.
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October 7th, 2006 at 5:45 pm
Man, isn’t that the truth. When people refer to multiple streams of income, they need to realize that each stream need not be huge!
An extra $100-300 per month from a rental propert can turn out to be a good chunk of change if needed in a pinch. And that mailbox money every month from my oil investments? Goes to a fund to buy… more oil investments for more streams of income.
Baby steps. It all adds up. Good post!
-Grant
TheCornerOfficeBlog.com