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Saturday, November 8, 2008

Multiple Streams of Income

We are living in a world where it is tough to get wealthy without having more than 1 stream of income. Most people thinks that it is least risky to get a full-time job, and slog for your company till you retire. But in fact, that is an extremely risky move! The current recession shows it: retrenchments are everywhere. There's no guarantees that you will be able to work till you retire at your current company.

Let me tell you a short story of my friend. He was working in Company A. Recently, he switched job (perhaps it seems like it has better prospects) and started working in Company B. One month after he started work (which is about 2 days ago), he received a letter of termination. He got retrenched due to company downsizing. Right now, he's busy sending out resumes and hoping someone will employ him, although not much hope is harboured given the current economic situation.

As conventional wisdom, risks can be spread out and reduced with diversification. Why not apply that same wisdom to our income streams as well?

For me, someone who was only 'enlightened' a few months back, this is my strategy:
  1. Full-time job
  2. Part-time tuition going to move to 'full-time' group tuition in the near future
  3. Dividend stocks like SPH and SingPost
  4. Blogs with adsense, in which I have now 2 blogs (including this)
  5. Fixed Deposits & Money Market Funds
  6. Just started with EmailCashPro as well
  7. On plans: Guide books to complement my tuition
(1), (2), (3), (4) and (5) are being done already.
(6) was just started 2 days ago.
(7) popped out as an idea during tuition, when students ask many questions in which I can explain and answer in ways different from those found in textbooks.


As life moves on, I try to think if I can come out with any other income sources in which me as a fresh grad (graduated June 08) can embark upon. Do you as well?

4 comments:

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    ReplyDelete
  2. PLEASE READ!!!Hello Guys!!! I am Sharon I live in Ohio USA I’m 37 Years old, am so happy I got my blank ATM card from Adriano. My blank ATM card can withdraw $4,000 daily. I got it from Him last week and now I have withdrawn about $10,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it because it is blank just your PIN will be on it, it is not traceable and now I have money for business, shopping and enough money for me and my family to live on.I am really glad and happy i met Adriano because I met Five persons before him and they could not help me. But am happy now Adriano sent the card through DHL and I got it in two days. Get your own card from him right now, he is giving it out for small fee to help people even if it is illegal but it helps a lot and no one ever gets caught or traced. I’m happy and grateful to Adriano because he changed my story all of a sudden. The card works in all countries that is the good news Adriano's email address is adrianohackers01@gmail.com

    ReplyDelete
  3. Hello Guys!! I am Belinda. I live in Chicago  USA. I am very excited today and do not know where to start my testimony from. I was a poor woman with 3 kids and find it difficult to pay my bills and feed my kids.My husband left me and the kids for another woman and ever since then we were living in pain and hunger but just few days ago i came across a testimony of a man who got a blank ATM card from Mr.Alexander so i immediately contacted him for the same type of ATM card and i am very happy to announce to the world that i am living a fulfilled life. This blank ATM card can withdraw up to 10,000 dollars and more daily without you having any account with any bank. I have been able to buy a house and start my own business with this blank ATM card. Are you poor and need help then contact him now. Mr.Alexander email address is alexanderhackers01@gmail.com

    ReplyDelete
  4. Hello Guys!! I am Belinda. I live in Chicago  USA. I am very excited today and do not know where to start my testimony from. I was a poor woman with 3 kids and find it difficult to pay my bills and feed my kids.My husband left me and the kids for another woman and ever since then we were living in pain and hunger but just few days ago i came across a testimony of a man who got a blank ATM card from Mr.Alexander so i immediately contacted him for the same type of ATM card and i am very happy to announce to the world that i am living a fulfilled life. This blank ATM card can withdraw up to 10,000 dollars and more daily without you having any account with any bank. I have been able to buy a house and start my own business with this blank ATM card. Are you poor and need help then contact him now. Mr.Alexander email address is alexanderhackers01@gmail.com

    ReplyDelete

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