Passive Income. We consider stream 4, interest income, as more of an offshoot of our real estate activity since we typically lend to colleagues from that network. How to Build Different Streams of Income. There are plenty of ways to make money. Simply put, more income streams equals more security. Active vs. Most millionaire won't have all of these 7 income streams - … Having multiple streams of income before you become unemployed takes much of the sting away from losing your primary income source. Cast Your Bread upon the Waters 1 Cast your bread upon the waters, for after many days you will find it again. Some people call passive income money you make in your sleep. Our long-term goal is to have our day-to-day income split equally among streams 1-3. Personal Finance 10 Smart Entrepreneurs That Diversified with Multiple Income Streams Diversifying your income is the path towards financial freedom. However, the kind you want is passive income. With multiple streams of income, you could end up receiving a lot of 1099-MISC income statements and other types of income forms in the mail at the end of the year. Multiple Streams of Income Quotes. That, in turn, means you don’t have to just take the first job offered to you out of desperation. By having multiple streams and multiple sources for each stream, we are not reliant on just one way of getting income. 29 percent had five or more streams of income; Having multiple income streams makes a lot of sense. Ordinary people are much more vulnerable. You don’t have to spend your time enviously wallowing in the fabulous lives of people on social media. And it takes them years to recover. Instead of being stuck at an unfulfilling job for 40 hours per week, and then commuting for another 10 hours, financial independence helps you gain more control over time . Michelle Norris “If you still have a job, stay the course while also incorporating additional income streams for diversification. 5 Ways To Create Multiple Streams Of Income | Stephanie Burns. These are the seven sources of income and millionaires usually earn from multiple such income streams. And it starts by adding more streams of income to fund your dreams. If they lose one of their [money] streams, it wipes them out. Everything in life becomes optional once multiple passive income streams cover your expenses. So if your goal is to become a millionaire, you’re going to have to create your own streams of income. When one stream is negatively affected, for whatever reason, the other streams … Let Multiple Streams Fund Your Dreams. 2 Divide your portion among seven, or even eight, for you do not know what disaster may befall the land. Building multiple streams of income helps provide you and your family more security and financial stability. 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