Depending upon one basket of income is like betting all your money on one horse; you could end up winning it all or you could end up…
Depending upon one basket of income is like betting all your money on one horse; you could end up winning it all or you could end up losing it all.
I have always believed that maintaining multiple sources of income is one key to establishing a solid financial foundation (as far as income goes). None of us can ever predict the future 100%, so why do so many of us live like we can?
What are your talents? What are you good at? What are you interested in? Be creative and find ways to capitalize on your talents and interests while you continue to also work your main job(s). I suggest to always have at least 3–5 different sources of income; if you find this to be too much to do, then aim for a minimum of 2 different sources of income.
I guarantee that having multiple sources of income will:
Relieve financial pressure
Make you a better more well–rounded employee (due to lower stress and obligatory levels)
Eradicate dependence on any one source of income or company
Give you more freedom