How many sources of income should one have?

[cooldude]

Statistics say that the average millionaire has about 4 sources of income. This goes on to show that there is a less chance of being a millionaire by depending on a single source of income. So to improve our financial standing we need more investments. Like the saying goes, dint out all your eggs in one basket.

Try you best to diversify and have a minimum of 3 sources of investment that brings you money. As long as the statistics do not lie, that is how you can build steady wealth. It is a actually not hard to pull off, many people do it so you can as well. It is not easy at first, but try to and start gradually, you will eventually get there.

 

[relcap]

As the cliche goes, "Do not put your eggs in one basket". It's important to. have various sources of income to maximize your earnings. For example it's good to have a gainful employment at the same time also engaged in a business or some sideline jobs.

 

[lens1000]

Having multiple streams of income is very necessary especially if you concentrate on working online alone . Doing multiple things is advantageous because you can have access to making money from different assets . Increasing your investment and expanding your investment portfolio would guarantee financial breakthrough .

 

[eLdavis]

There is no law that says one should have a specific amount of sources of income, i would not even advice anyone to have just one. Having multiple sources of income is a lot better, especially in our current economy where the cost of living has gone up. The most important thing about having multiple sources of income is that you are able to mange them.

 

[relcap]

Even companies previously engaged in one product lines are diversifying. One popular supermall in our country started as just selling shoes along a small street but now the company is into different industries like real estate, supermarket, department store, and even controls one commercial bank.

 

[Cherry123]

Diversification has always been the watchword for me you should try to get different sources of income this would help you to have more money from different sources. You wouldn't have to depend solely on one source so if anything happens to a source you would be saved.

 

[bestwriter]

One should remember the saying - never have all the eggs in one basket. Having said that there is many a slip with the cup and the lip in that all avenues may not necessarily be one hundred percent safe. But taking risks is all that is there when it comes to searching for instruments that can help make money. Shares, mutual funds, cumulative bank deposists, buying real estate come to mind

 

[Inemesit]

It is true that one cannot become truly wealthy with just a single income stream. By right, a balanced person should have an active income, passive income and a residual income at one stream for each type of income.
That invariably means that one should have at least 3 streams of income but 4 is ideal.

 

[Cherry123]

Yes,I agree with you no need putting all your eggs in one basket so that you don't get your hands hurt in the process. It is always good to do different things to make money. This is one truth that can't be disputed just get up and put on your thinking cap and look for a way to be financially responsible. You would be glad you did.

 

[bestwriter]

I do not consider online earnings as my income as it hardly amounts to anything But I have bank deposits, there is pension and medical reimbursements . Medical reimbursements are a real blessing for which we have to pay a small insurance premium. Every kind of medication spent on is reimbursed.

 

[Shavkat]

It depends on how the person's lifestyle. It can also depend how big the family of this person. As for me, I need to have two jobs due to the effect of the pandemic to me financially. I am sure some people prefer to work only in one job or have their own businesses.

 

[Christopher chioma]

One should have like at list 3 or 4 ,, so that ur income will be coming out from ur different business…it depends on how the person manage it..it is nice to work on different angles to earn something ,the most important something is the income if u can manage it propely…so I won’t advise someone to earn from one income

 

[Johnson Victory]

The number of income sources a person should have can vary depending on the individual circumstances and goals. Generally, having multiple sources of income can be beneficial for financial security,since it reduces the risk if being depent on one source of income however, having too many sources of income can also be challenging and time consuming to manage. As a general rule, it's good idea to have at least two or three sources of income, such as a primary job, side hustle or passive Income.

 

[jonaville]

Truly, in this economy especially in this part of the world, is can be very helpful to have more than one source of income. This will ensure that you have more money coming in compared to your expenses, and so you can be able to save some or invest.

 

[cooldude]

This is just true. Things are getting more expensive every passing day so having just one means of income might not be enough to get by. Sometimes you will even need to have about three and above just for you to be able to live a comfortable life. That is the situation of things in the world currently.

Truly, in this economy especially in this part of the world, is can be very helpful to have more than one source of income. This will ensure that you have more money coming in compared to your expenses, and so you can be able to save some or invest.

 

[DeLight]

Multiple sources of income is the message being preached now and even better that you can achieve such from the comfort of your home in addition to your primary source of income. Most importantly is to ensure that there is room for investments that could help hedge against inflation that keeps devaluing our currency.