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Is having an external source of income a good idea.
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[QUOTE="King bell, post: 265904, member: 75687"] Having an external source of income is a good idea, especially if you want to build wealth. The key to building wealth is to create multiple sources of passive income that cover your expenses, provide an emergency fund and retirement account. Some people think it's smart to have only one job or investment strategy and rely on "smooth sailing" for the rest of their lives. However, it's not a wise idea to put all your eggs in one basket- by diversifying your sources of income, you'll be better prepared for the unexpected. One advantage to having multiple sources of income is that you'll have a financial buffer against fluctuations in the economy and workplace. If you're like most people, you probably are not making enough to cover your expenses, let alone save for retirement . Having an external source of income can also be termed as passive income and forum like this is a great way to make money externally. [/QUOTE]
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