This post is my ongoing daily participation in @jongolson's fantastic Index4Index Initiative. Read his post, and get yourself involved!
Today's Index4Index Daily Inspired Motivation, and the five quotes that I share with it, speak of how important growing multiple stream of income is for long-term financial stability.
"Never depend on single income. Make investments to create a second source." - Warren Buffett
"Never rely on one flow of income!" - Grant Cardone
"Having multiple streams of income is key to business success." - Deacon Hayes
"In today's uncertain economy, the solution to be wealthy, be in control and enjoy freedom for you and your family is to have multiple streams of income." - Robert G. Allen
" Focus on more than one stream of income. The average millionaire has seven." - Nancy Badillo
What's the saying,"don't put all your eggs in one basket"? Yeah, that one. While it is absolutely essential to focus sufficient time, attention, and efforts on what we are passionately creating, we should be careful not to fall into the trap of creating and maintaining only one source of income, no matter how lucrative it may be. The reason for this should be obvious. What happens if it goes away?
Using our income from one stream, we could invest in creating another, and then another, and on and on. Hive is a perfect example of a framework ideally suited to creating multiple streams of income, and often passive income at that! There are so many diverse ways to generate income here on Hive that most people aren't even aware of them all, nevermind being able to thoroughly keep track!
Regardless of the framework, however, the principle is the same, and putting it into practice wherever we are, with what we have available, is a surefire manner to grow our assets and our wealth. It also gives us far greater financial stability, especially over time.
The secondary and tertiary investments also don't have to be large. Starting off with the funds that are available, and slowly growing over time by continually reinvesting in these new income streams, will often pay off fantastically well at some point. We just need to have the focus, patience, and consistency to be able to go from where we are to where we know we can be if we stay the course.
This is one reason that I'm so passionate and excited about Hive, as I can easily see how my choices now, and over the course of months, are creating something truly astonishing. I've grown my account to where it is now from zero in just over a year's time, and I have no plans of quiting or stopping!
Start where you are, with what you have, and build and grow over time, and in multiple ways. At some point what you've been creating could potentially become self-sustaining. It is possible to create multiple self-sustaining income sources in this fashion, and one can feed into another, continually increasing the flow of assets across the whole system. Yep, this is fun, potentially very lucrative stuff indeed!
Remember, dear friends, that we are all in this together, that we rise by lifting others, and that together we thrive, so onward and upward, joyfully together! 😁🙏💚⚡💥🔥✴️✳️❇️👣🌱
For the best experience view this post on Liketu
