#name#, Why is it so important to have multiple sources of income?

Hi #name#,

The simple answer is that “for financial
security”.

Most of us have a regular job as a primary source
of income and many people consider their jobs to
be secure, but taking that concept for granted can
cause adverse financial effects. Companies can go
bankrupt, individual units can be closed, layoffs
can be applied to cut labor expenses, and
individual jobs can be lost at almost any time.

Concept of diversification of income can protect
many from these kinds of events, as well as help
to increase your total earning potential. Creating
multiple streams of income can also open up new
opportunities for you to learn and grow.

Diversify Your Investments

Simply Click Thru The Link Multiple Times To
Review The Three Income Diversification Opportunities
That I Highly Recommend.

Diversification is the key to smart investment. We
should diversify significantly with the actual
asset class itself. In case of financial assets,
stocks, bonds, SIP proven themselves to be
reliable and predictable money makers. When it
comes to real estate, we can diversify by owning
different types of rental properties or we can
purchase, improve and then sell a property at a
profit which is depend on state of real estate
market. Another approach is to start a small
business enterprise in extra time like a small
contracting service, offering freelance services
online, or starting a resale business, can be run
very effectively on a part time basis.

Most important way is to build a network which
doesn’t require investment but it will act as
asset for your passive income.

What is the cost of diversification?

Diversification requires some spare time and
effort to grow your business/income.

The Mindset of Diversification

To avoid stagnation and narrow thinking, one
should starts with educating yourself, read blogs,
books, talk with like-minded people who have
different perspectives and are doing things
differently from the way you’re doing it.

I believe that we need to be looking for how we
can move to the next level as early as possible.
The mindset should be, how do we take that income
and move to the other side of the cashflow
quadrant where we create passive income and time
freedom.

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