Tuesday, December 07, 2004

Multiple Income Streams...

Over the years I have looked out how the wealthy people get and stay wealthy, and I have to say, that each of them have several "streams" of income coming their way. They have:

1. Their "Day Job" (not that they do much there in many cases!!)
2. They have stocks, that they manage themselves most of the time!
3. Many have written a book, that provides income to them every time someone buys that book. Many write more than one!
4. Most buy, sell, and rent real estate.
5. Some have a SMALL savings account. (Most of their money is in the stocks and real estate.)
6. Many have a second job that is more a hobby than a job, but it brings them money.
7. Most speak at events, etc, and get paid to do so!

In all cases, they manage their money VERY closely, and keep close tabs on how they spend their money and where their money goes daily. They want to build the streams of income into a river, and then a lake!

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