“Wake up! No one is going to save you. No one is going to take care of your family or your retirement. No one is going to “make things” work out for you. The only way to do so is to utilize every moment of every day at 10X levels.”
― Grant Cardone, The 10X Rule
I have already talked about how much I love self-improvement. A lot of the books I read are directed toward entrepreneurs. One of the things I have learned over the last year is that you need to have multiple streams of income in order to become really wealthy. You can't save money without making money. You can't get out of debt without making money. You can't provide for your family without making money. Money is not evil. Money is a tool. Now go put some more tools in you toolbox. So here are a few ways you can get more streams of income flowing.
1. Job- Don't stop what you are doing right now, even if you hate it. The only reason to quite your job is if you have to do dishonest and unethical things. Otherwise add to it! Stand out by figuring out ways to make your company more money. I believe in living a life of meaning, but if you quit your job to move on to something else without replacing that income, how are you going to live your authentic life? All that is going to do is make you more broke and take you in the opposite direction of your life mission. Doing what you love requires money, and making money doing what you love takes time, so don't quit your job. Figure out how to make more money doing what you already are, and be grateful that you have a job. Get really really grateful and you will enjoy that job more than you knew you could. Make a plan to phase it out and move on.
2. Residual Income- This is so important. A residual income works for YOU. It makes you money while you are sleeping. I think this is the best wealth builder. My residual comes from doTerra, a company that sells a product I love, and rewards me for sharing it with others. MLM's get a bad rap, but they are perfect way to build that residual. My job also helps me educate people about alternative health options, which is also something I am passionate about. You can build one up and then add another and another sharing products that benefit your life. doTerra has an incredible pay chart that you can look at here.
3.Real estate- Now of course you have to be careful here. You have to make sure you are getting a steal of deal so you don't loose money.
4. Own your own business-Build a business. Again, doTerra answers this one for me, but I add to doTerra with wellness consults, and various other things, like massage and acupressure.
A fifth option might be something like stocks, or IRA's. I personally don't like those. They make me sick to my stomach. It feels like gambling with your money, and I am very much against gambling. My husband likes the idea of stocks though, so we do have some. Stocks are a frequent discussion in our home. The only time I can imagine being ok with stocks, is if you have money you don't care about loosing. I can't imagine that ever happening though.
My husband, Jayson, introduced me to Grand Cardone. His first summer working for Vivint Jayson read the 10x Rule. I think it was one of his favorite books that year. Since then I have followed Grant on facebook a bit, and listened to snippets of his books. The first time I heard him I thought two things... wow, he has a potty mouth, and wow, that is a successful, determined man. I kind of turned him off though, because I didn't hear a man who was available to his family, and he seemed TOO focused on money to me. I thought he worked too much, and it looked like he hadn't balanced work and family very well. I've changed my mind about him since the first time I heard him. Because HE is the boss, he get to include his family. That man has his whole family involved in his efforts to provide for them. He has his awesome wife, Elena, who he does a show with. Plus a show he does with his super confident kids. and his girls are so adorable! It looks like he uses the lessons I learned in "The Entitlement Trap", by Richard and Linda Eyre. I believe strongly in teaching kids to have a strong work ethic. The Entitlement Trap will be a different post, but that book is essential for any family trying to teach a strong work ethic. On top of all that he is a big supporter of veterans and the VA .
Okay, I got off on a tangent there. The point is, go read Grant Cardone's books, and really start diving in to getting your money right and learn how to get your multiple streams of income going. You can also find him on facebook and watch his live streams.
Mother, Oiler, healthnut-ish, teacher, coach, wife, lover of life and all of it's simple gifts.