Why You Need Multiple Streams of Income
There is a bunch of different reasons why you need financial freedom and it would take way more then this video to go over them all but I do have 4 reasons that I think almost everyone can agree on.
- Financial Freedom
When you have multiple streams of income you have the ability to pay off bills faster. Pay down credit card bills. Not live check to check. This gives you time to spend doing things you want to do and not have to do. This is pretty much the definition of Financial Freedom.
2. Financial protection
You ever been laid off? No?
Well most people have either been laid off from a job or fired from a job unexpectedly. This can cause all type of financial problems for you and your family to say the least. When you have multiple streams of income already built up then you can protect your self financially.
I remember going through this at one point. The only thing was I didn’t have any other income stream to fall back on. This inspired me to start the Wealthbuilderz movement and I haven’t looked back since. I’m not saying I don’t have a job or anything like that but I do have multiple income streams to fall back on.
3. Retire early or more comfortable
You never want to have to depend on the government. Not ever ever. And if you really think that SSI is going to give you financial freedom then you need to leave this YouTube channel right now.
Yes it might still be around when you get to retirement age but you don’t want to depend only on this one income. Having multiple streams of income right now will give you the ability to stash away a retirement faster and if done right can last for years to come.
4. Diversification Of Income
Yes we’ve all heard this term when it comes to investing but what about when it comes to income? This is a must have because you never know when life hits you so having different types of income streams can help you navigate much smoother in this financial jungle.
So there you have it those are the 4 reasons why you need multiple streams of income. Thanks for watching.
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