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Multiple Sources of Income

I always think that creating multiple sources of income is the best way for you to retire peacefully. It is important as you no need to worry much even do not have to work anymore.

multiple income

Multiple sources of income do not mean that you need to work for several jobs for multiple incomes. If you have more sources of income, then the more stable you are when facing global economy crisis. For example, when you loss your main job and most probably you will be jobless for few months. During this time, you still have passive income that can support your living expenses.

If the income that you earn needs you to put your mind, energy and time on it, then that’s not considered as a good passive income. In my opinion, if you plan to create few website or blog and want to make some money from there, then that’s the goal of online business and it’s a great thing. This is because you can create a product to sell, or maybe you can selling ads space, promotion of services, or some other method to monetize your site.

Besides that, you can try out investment which involves making money out of your accumulate capital. Some examples of multiple sources of income in investment opportunity will be stock investment, mutual fund investment, property handling, multi-level marketing, freelancing etc.

Whatever other source of income may be the key to success and it depends on your risk taking. So, do more research before you opt for a particular source of income.

3 Responses to “Multiple Sources of Income”

  1. Ong Teik Hong Says:

    Hi,

    Diversification may preserve wealth but concentration creates wealth ~ Warren Buffett



  2. Chong Kong Hui Says:

    @Ong Most of us are not Warren Buffet and therefore can’t always follow his style.

    Do you DARE to invest all your money in one or two company?

    by the way, MSI is good for now and future.

    For now, with MSI, you are not 100% depending on your salary and therefore you will perform as you wish, not having concern that you will lose the job.

    For now, with MSI, you can have better lifestyle, not have to worry about next month budget.

    By the way, to have MSI doesn’t mean you over-diversify your energy. Just have to find the right mix of sources of income.

    Happy earning! Happy planning!!



  3. alice Says:

    i love the idea of MSI but i need more information on things like investments etc. where can i get those?



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