What are multiple streams of income? Well, if the only money coming into your account is from your employer, then you have only one stream, your job. Other streams would be interest from term deposits, dividends from shares, capital growth from shares and property value increase, and revenue from rent and online businesses. Everyone wants to be financially abundant, yet so many rely on only one check this of income, their job. Unless you land the next lead in a movie, your job isn’t going to get you to where you want to be.
Our job has its limits because there are only so many hours in the day. Sure, you could stop sleeping and work 4 jobs, but could you really do that? The answer is no, and you shouldn’t have to. Career progression takes time and we all only have a finite amount of it. Instead, your time is much better invested in creating other streams of income. As the go stream in internet is completely automatable, that money could be passively flowing into your account every single month while you continue to work your current job.
With go stream save 10% of your salary and put the savings in a term deposit. You get yourself around 6% interest. You have that interest capitalize and your deposit increases. You buy shares and as well as dividends being created to your account, your investment is increasing in value. You buy an investment property, and the rent covers the mortgage giving you massive growth (around 6% a year) when you sell the property later on.
Why don’t people just use one of these examples? Because they don’t know how. If there were to only invest in their financial knowledge, they could be living the life of their dreams much sooner than they thought possible. The internet is the biggest source of potential income available. It can be totally automated, so much so that if you were to die, your business would still be making money. It should be your first step towards creating another stream of income. All you need to do is invest in building your knowledge. Once you’ve done that, you can move onto building more, and more and more income streams.
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