A Job Is Just One Income Stream
A job is just “one” source of income. If it ends or you are not able to work it. It ends. This means that if your income source is gone, you have no money coming in or the ability to make income unless you get another job immediately. A job is not permanent. It is not guaranteed. It has limitations. You can only work when the employer says you can, you can only make what the employer allows, you can can only be paid what the employer offers. And in some states, employment is at will. This means that the employer or the employee can end the relationship at any time. A job is an active source of income. If your employer does things right, you are paid on a certain date, for the time you worked. You are paid wages for the “active time” you spent or put in working the job. Once you stop, that’s it.
Multiple Streams Of Income
Multiple streams of income are just that. Multiple. More than one.
Income is coming in or the ability to make income is present from multiple sources. It is having more than having a job. It is not dependent upon your initial job. It is other income streams that you have set up for income, to receive income. For multiple streams of income to flow.
Why Should You Have More Than One Stream Of Income?
Multiple streams of income guarantee income or the possibility of income. You are not dependent on a job or an employer. If you should lose your job, you have other streams set up to make income or obtain income. It increases your net worth. It increases your personal finances.
Types of Income Streams
Passive, Residual, Stocks, Real Estate, Businesses, Products, Trading, Blogs and more. These assets allow your money to work for you without you having to physically work. The initial set up and maintenance of these assets is all that is needed. In some instances, you can make money while you are sleeping.
It Gives You Time Freedom
Multiple streams of income, give you wealth. For some, wealth is time freedom. The ability to use your time doing the things you want to do. You are not tied down to a job or putting in sweat equity. You are free and your money is working for you. Time freedom may look like the picture above or traveling. It may be working on the mission project that you are passionate about. It may be starting or working on a non profit. It may be volunteering somewhere. It’s the freedom to do what you want to do with your time.
How Many Streams Of Income Do You Have?
Comment or name them in a reply to this post! If you would like assistance in creating more than one income source. Contact me to today! I have a fabulous opportunity for you.
Bridget Denise Webb
Fabulous Finances 