Welcome to an eye-opening episode of the Building Your Money Machine Show. Today, we're taking a look behind the curtain as I reveal the 12 income streams I have built by the age of 63—streams that were actually established decades ago and have provided me with the freedom to live life on my own terms. In this episode, we delve into how you can achieve financial freedom by creating multiple income streams, understanding the necessity of diversification not only in investing but also in income.
I am going to walk you through each of my income streams, from the most active to the least active, showing how they have enabled me to thrive even through life's challenges, such as my battle with cancer, without being tethered to a single source of income.
We will talk about active incomes such as my financial consulting and public speaking, to more leveraged streams like online courses and real estate investments, right up to truly passive income from dividends and interest. My journey demonstrates the importance of not relying solely on one income stream and how this approach can safeguard your future.
IN TODAY’S EPISODE, I DISCUSS:
- The importance of diversifying income streams
- My personal journey and how I built multiple income streams
- Understanding the hierarchy of income
- How to start small, leverage existing skills, and methodically build additional income streams
Six steps to begin building your own diverse streams of income
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