Having Multiple Income Streams Is Now A Necessity!

Like most Americans, I was raised to go to school, get good grades, go to college, get a degree, and get a good job. Well, that didn't quite work out for me. I was a good student. But, found school boring. At the age of 17, I joined the Naval Reserves. That wasn't too bad. I got paid for going one weekend a month and two weeks out of the year. In 1989, I enrolled in school to become what was then called a Computer Operator. I double majored in Accounting. I was doing really well with a B average. Then, life happened. I went through some personal and financial hardships that forced me to quit school 3 months before graduation. Now, I can hear some of you saying that I should have stuck it out for those 3 months. But, at the age of 19, and having so much going on, I didn't know how to handle it. Believe me, I wasn't happy about it! Then to add on top of that, in January of 1990, I was recalled for what was at first Desert Shield which then turned into Desert Storm. I was gone for 6 months serving the country. It definitely was an experience! I can say that I'm proud to call myself a Veteran!

Now on to the topic of this posting...having multiple income streams is now a necessity. The reason why I'm writing this posting is that most people weren't raised with an understanding of it. Yes, we were told to save money. But, the reality is that it's pretty hard to save money when you're barely making it. It's also hard to save money when your income is determined by your employer, if you have a job, who tells you what you're worth. I remember getting my first job working at Taco Bell. I was excited at first because I was making my own money and didn't have to ask my mom for it. But, I then quickly realized the price of having a job. I had to work evenings after school and on the weekends when most of my friends were hanging out. I also realized that I didn't like being told what to do. Interesting considering that I joined the Navy Reserves a year later. But, I started understanding that even though it was my choice to get a job, I no longer had control over my time. How many of you feel the same way? At that point, I knew that I didn't want to work for someone for the rest of my life. But, like most people, didn't have a clue on what to do.

The beginning of understanding multiple income streams came after I joined the Navy Reserves. I had a regular job and did the Reserves as required. But, what really made me understand it more was when I started to sell music online. For those of you that don't know, I've been involved in music since the age of 7 years old. I sung in choir, deejayed, made beats, and then full blown music production in 1993. It was after releasing several CDs and having our music available online, that I started to truly understand. I realized that having income coming in from more than one source is the best way to go. By time this true understanding happened, I had already been laid off once. Sure it was easy to find another job back then because the economy wasn't as bad as it is now. But, it sure was a wake up call and a half!

If you have a job...awesome! But, is that the only source of income you have? What if you got laid off? What if you got sick? What if you go injured? What do you do then? Well, I remember my mother saying over and over to not have all your eggs in one basket. Well, it's sad to say that most Americans do have all their eggs in one basket. Their job basket! I highly encourage people to find something they can do in addition to their job to generate more income...another income stream. If you can have a third and fourth, that's even better. But, work smarter and not harder! We only have 24 hours in a day. Yes working a second job will generate another income stream. But, at the price of more time and more taxes. Is it really worth it in the end? Do you really make that much more money? So, find something that can help generate income even when you're not working. That is when you're on the path of true time and financial freedom. If you have a hobby that can help generate money, then do that! If you have skills that can help generate money, then do that! My point is to do something! Because if you depend totally on a job for your income, you're not in a good position should anything happen to it! I know, I've been there!