Multiple Streams Of Income

People who own a business often understand the powerful concept of multiple streams of income. Given that any business can have economic, regulatory, or industry changes that can hurt the income stream of a business, most business owners develop multiple income sources within their business to protect the cash flows of the company. Sometimes these changes are in different lines of business, types of products, or services that complement each other. I think over the next decade, each household in America will need to consider having multiple streams of income with job and market uncertainty we will face in the years ahead of us. So, how can you create multiple streams of income? 1. Both partners in a household have a stream of income – In my opinion, letting your household rely on just one breadwinner that has a job as an employee with a company is an incredibly dangerous strategy. As large companies feel pressure to meet Wall Street ...

Read More →