How many streams of income do you have

[springtech]

We have heard motivational speakers tell us, we need at least 4 streams of income to become financially independent.
I agree that to become financially independent one needs more than just 1 means of income.

So friends, do you agree?
How many streams of income do you make money from?

 

[Queentener]

My opinion you don't necessarily need to have more than one streams of income to be successful there are people who have just one source of income and they are doing very well. Although having multiple sources of income is not a bad idea it's actually good if you can contro it, if you have the capability and the strength to run multiple streams of income it's not bad. The more the merrier they say actually, but my own opinion you don't need multiple streams of income to become wealthy or to be successful.

 

[Dora Wi]

Where does the 4 streams of income advice come from? Can anyone link me to who said it?
4 sounds like an arbitrary number to me but I definitely agree that it's good to have more than one income source. Covid has shown us more than anything that it's best to have several skills that can be monetized. My income currently comes from three different skills.

 

[Ozigba Richard Lamai]

I have not started having stream online because I have not put any creative work out there,creative work out where you begin to have stream from people who love the work and this enable you to make income the amount of income remain developing online money, become rich their creative work which they put out there for people to view and entertain themselves.

 

[btaliat]

For online. I only work for two or three paid to click websites and one transcription website. And for offline, I teach in school, both diploma and A level, and I also involve myself in two extra private lessons for some secondary schools. I think that should be like 4 or 5 sources. Having my own business is my goal though.

 

[IamDozzy]

According to my own point of view having stream of income is wise but also it is very difficult to control them, when you have streams of income you need to give them all your time in order for you to keep them going sometimes managers are not trusted and you have to always check on them in order for them not to crash your business. As for me I have four streams of income and right now it is taking all of my time I don't even have time for myself anymore. I believe soon I will learn to control them better

You are absolutely right, the problem isn't having multiple streams of income but how to control them. Most people that engage in multiple streams if income end up ditching one for the most profitable. But if the stream of income is passive then one is good to go. Passive stream of income might not earn one much but all the same it still brings one a side income.

 

[Deleted member 27126]

We have heard motivational speakers tell us, we need at least 4 streams of income to become financially independent.
I agree that to become financially independent one needs more than just 1 means of income.

So friends, do you agree?
How many streams of income do you make money from?

Having many streams of income is very good but the truth of the matter is that it is not easy at all. Even to sustain one stream of income nowadays is not an easy task. Motivational speakers can't be taken seriously all the time as their sayings are nothing but just fantasy and to make a person happy. There are still some easy ways to make other stream of income but one has to work very hard to find them. Employment is good but having one's Own business is better.

 

[Briangsam]

I for one don't like listening to motivational speakers. They like to build castles up there in the air for you. Get you pumped up and after you left, you are left deflated again. Zero practicality. But on the streams of income, it is important to have multiple of it. May not four as the "perspire to maguire" people said it. But solid streams of income. It is very important.

 

[Planet408]

The need for multiple streams of income cannot be over emphasized. Multiple streams of income will enable you to generate more money within a space of one year. And if anything should happen to one of your streams of income, you won't get frustrated because you have already made lots of money, plus other streams of income are still active.

 

[Timison]

It wise to have many stream of income, but unfortunately I have just one stream which is time consuming

 

[Kennysplash]

Yes, a popular entrepreneur once said that the average millionaire millionaire has about 5 streams of income. So it is right to have as many means of income as possible. There are times when one will not yield well then you supplement it with the other. But if you have just one then things will be hard if things go south. Invest, buy properties that will appreciate later, buy stocks, shares and bonds. Just make sure you are not depending on a single source of income.

 

[Maphalle]

It is wise to have multiple streams of income though in some people focus can be a problem. They'll only focus on one and the rest will suffer which will be useless for them to have such.

 

[Hena101]

When it come to having streams if income i advice anyone to have at least four different streams of income because when one is blocked you get money through the other ones while you are repairing the damage done to the other one and this will give you freedom to live a life on your own term. Like me now i have almost seven streams of income even though I'm not getting much from but when put together is a huge amount and it caters my need

 

[Victor001]

It's not good to put all eggs in one basket, the covid 19 pandemic was a clear eye opener,most of us that relied permanently on offline jobs are really feeling the heat, the need to diversify income into various business opportunities such as online platforms, affiliate marketing and even graphics designing. Personally I run an offline fishing business and an online forex trading.

 

[Abbeyola]

We have heard motivational speakers tell us, we need at least 4 streams of income to become financially independent.
I agree that to become financially independent one needs more than just 1 means of income.

So friends, do you agree?
How many streams of income do you make money from?

I have many streams of income, you know due to the financial status of the economy we are and live in you have to diversify and generate lots of money and income for yourself if you do not want to srart begging for money from your family and friends or start looking for who will borrow you money and pay at the end of the month. Before now I was earning a salary income job couple with so many on line businesses especially during the pandemic periods. Telecommunications businesses and pay site

 

[Psalmseen]

Having multiple streams of income is the best. As myself, I have about four streams of income. So it will be sufficient to cater for my needs if not all

 

[Henrylaw]

To be financially stable in the modern world, there is a need for many streams of income. There is even a biblical evidence of this in the garden of Eden. The garden of Eden has four rivers which flows into it. Figuratively our financial garden needs at lease four streams of financial flow to keep us financially hydrated. Multiple sources of income is encouraged to stay financially afloat. I have a full time job. I work online with some monetized platform where you are paid for performing certain activities. I am also a livestock farmer on part time base.

 

[Mika]

When I had a job, I had only one income stream. Every month I received a paycheck and that was my only income source, however, it was enough to pay my bills, buy supplies, and save some percentage in the bank. After I lost my job due to Covid, I did not have any income source for a couple of months, and I had to survive on my saving. Then I started working online. These days, I have two sources of income, one residual income from my website and mobile app, two by working on various sites.

 

[Shigobad2020]

Motivational speaker are mostly liar that tries to brainwash you but they are very right on these one, you can't depend on only one source of income if you want to be financially independent, but if you have a huge company or business, you can rely in one source of income if the money ius steady , i know of some teachers that have shops and go there after school hours,

 

[Olajidey]

It is good to many many streams that fetch money for you even you should have an investment that will fetch you money even when you are sleeping. Presently I have one offline business that is fetching me money but i have many business idea that i will invest in when i have the required capital for start up.