They say don’t put all your eggs in one basket but a lot of people, especially employees, ignore this wise adage and continues to put all their eggs in one basket. I say, don’t get all your eggs from one chicken—that is suicidal.
This is a dangerous way to live and yet many people do not seem to know.
One of my highly educated friends in London, a scientist who holds a PhD from a top UK University was made redundant a few weeks ago. His company could not continue to keep him as an employee—meaning there will be no salary for him again.
This is someone who is a specialist in his own field and yet he lost his job and his income just like that.
He was not happy but he was not really pained—after all, he has another stream of income—a different source where he earns some money from each month. So with the complete annihilation of his PhD job income, he still had something else to depend on until he probably finds another job if he wishes.
Imagine if he did not have another source of income. How was he going to pay his bills or keep life going? From his savings? How long would that last?
A lot of people are living a financially dangerous life—wholly dependent on their jobs or just one stream of income.
I keep telling my friends that I prefer to have 5 streams of income with each making me £1,000 a month, compared to just 1 stream of income making me £6,000 a month.
The wisdom in having multiple streams of income is obvious: when one shuts, the others can keep you afloat for a while, until you come up with something else.
Despite this open wisdom, many people continue to cheerfully depend on one stream of income. It does not matter how much you are being paid—it is a bad idea that all your eggs are coming from one chicken. That chicken can be stolen, killed or even be sold by the true owners. And where would your eggs come from?
Everyone needs to develop or work on creating multiple sources of income. This is a must—it is not a matter of discretion.
Currently, I have the following streams of income: as a lawyer, a writer, business owner, a farmer and a consultant. That’s six streams—and I have not added other investment returns or income. Still, I am always looking for more streams—I am currently talking to some friends to start a transport business.
Look, this is a simple wakeup call. You need to create something—another stream of income if you want to be financially cushioned and stable.
Each Saturday, I take consultations—teaching people like you how to make money online (as bloggers or owners of various online businesses) to help them create multiple streams of income.
If you are interested in booking a slot with me, INBOX me or Whatsapp me via +447837576037. It’s not free but affordable–£150 per hour. I may be able to give some discount to some people.
This is the time and your opportunity, don’t wait. What are your income streams?
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