From Micro Income to Diversified Income Streams

From Micro Income to Diversified Income Streams

1: More and more jobs are not as stable as before (the good old days). Who knows if you might get laid off someday?

2: The consumer price index has skyrocketed since the US dollar is no longer a currency (nolonger tied to gold). With high inflation rate, your real salary (in terms of purchasing power) is more likely shrink than to grow.

3: It is harder and harder to get jobs, especially those with advanced degrees.

The goal of having a job is not as attractive before, similarly for "Owning a business".

What should we do? Diversifying your income streams can help! Just having one "big idea" and put all your eggs into one basket is risky in most situation. You could sell a few old books,  at a farmers market, do some online affiliate marketing, do a bit consulting or tutoring, publish a book, etc. Although each single task may not support yourself, but the combined efforts have the potential to make you rich, if some how, you gradually come up with a clear idea of income growth with your past experience and savings.

By having a web site of your own and try to get some advertising revenue may also be a good idea, but be sure to calculate your cost and revenue to limit your risk.

Last modified: Tuesday, 24 July 2012, 10:27 AM