Creating multiple streams of income allows an individual to have various cash flow sources that are coming in. This puts you in a better position to be prepared if one source of income fails, you have something to fall back on.
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Do you know that an average millionaire has more than 5 streams of income? To become financially successful, you need more than one source of income.
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Building passive streams of income is not easy because it takes a lot of time, effort and systems. To reach your financial goals early in life, it’s a must that you have more than one source of income.
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There is no magical limit as to the number of extra income streams you can create. Just as long as the time you spend maintaining them doesn’t become too cumbersome and they produce positive cash flow.
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With multiple streams of income, It alleviates some money stress that a job loss can bring.
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A dream without a plan is just a wish. To put some wheels on that dream, you need to consider multiple streams of income.
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