Look at Income as Investments

As I was walking downtown the other day I couldn’t help but wonder how all these stressed out souls passing hurriedly by were managing with their income. Were they slaves to the nine to five grind because they needed the next paycheck to pay for their lives that they spent already in the future? Did they have their entire income riding on just one job? Were they happy to scurry into the glass towers lining the street every day? I was intrigued.

People tend to focus more attention on buying a car then they do on figuring out how to manage sources of income to live their life. Many people simply jump on the bandwagon and join the nine to five grind, repeating the same mantra, each and every day, in the hopes of one day jumping off to live their life. Putting all your eggs in one basket can leave you vulnerable to life’s happenstances. As such, it’s important to broaden to the extent possible different ways you earn income. Banks tell us every day to diversify our investments, so too should we diversify our income streams.

To develop diverse sources of income, you need to invest in time to do other things. It’s easier than you would have imagined because when you do activities that are fulfilling, it doesn’t feel like work; rather, it’s considered a pursuit. Your energy level usually increases, your focus remains positive, and you become happier. This is an investment in your future. It will take some time and effort, but you’ll never regret the outcome.

As you progress in diversifying your income, you’ll reach the tipping point, that point when things begin to happen. If you’ve invested in an online business, for example, you may see that your online community has suddenly come alive by interacting with you. Your name is being recognized in other online sites or blogs. You may have sold a product or book, or landed a new client. You’re coming of age. You’re beginning to realize diverse income streams.
Soon your income streams will allow you to step back a little from your full-time income generating job. This isn’t the time to lose focus; you need to keep on track until you have reduced your reliance on a single source of income. This risk diversification strategy will reduce your vulnerability to life’s happenstances and most important, reduce your levels of stress.

Have you found ways to diversify your income?

Feel free to share your answer in the comments.

 

Other Time Trading Gurus

Time

Jana presents Being Rested: How It Sets You & Everyone Around You Up For Success posted at Blog, saying, “When we take care of ourselves by giving ourselves what we need first, we not only set ourselves up for success, but we become more productive, get things done faster, and set everyone around us up for success as well. Being rested and centered is one of these tools.”

Flexibility

Jonathan Grant presents How to get out of the “friend zone” posted at Questions & Answers About Life, saying, “Something almost all guys, and many women, have to deal with in their relationships.”

Teri Jones presents 10 Ways Working Moms Can Get More Done In a Day posted at Nanny Jobs, saying, “Some suggestions to get you on the road to efficiency so that you can deftly manage the balancing act of working moms everywhere.”

Don presents The Importance of Failing posted at Breath of Optimism.

Money

Jessica Clark presents How to Raise Money for Your Mission Trip posted at Kenney Myers, saying, “Mission trips are an exciting way to learn about other cultures, offer aid to those in need and share the message of Christ.”

John Schmoll presents Financial Advisor Compensation – Why it Matters posted at Frugal Rules, saying, “A financial advisor can be a great way to help you grow your portfolio when you have long term goals in mind. Make sure you do your homework and hire one that you feel right about and best fits your needs and goals.”

Jon Rhodes presents Napoleon Hill – The Secrets of How To Think Rich posted at HypnoBusters, saying, “This article illustrates the great Napoleon Hill who closely and personally followed hundreds of geniuses over more than 20 years. These geniuses included people like Henry Ford and Thomas Edision. He boiled down this information and found the traits that you can acquire to become successful and rich. This is a fasinating source of wisdom straight from a fountain of success.”

DREAM Process

Dana Sitar presents The Advice You Need to Hear Before Leaving for a “Working Vacation” posted at DIY Writing, saying, “Inspired by a week of low productivity while traveling, I created this simple planner to help freelancers prepare for traveling and working vacations (this may not be the advice you’re hoping to hear…)”

Bavly A. presents Life as we know it: Life. -Simplified Edition. posted at Life as we know it.

Shaun Rosenberg presents How The 80 20 Principle Changed My Life posted at Shaun Rosenberg.

6 Responses to Look at Income as Investments
  1. Anonymous says:

    I’d have to check with you here. Which is not some thing I frequently do! I delight in reading a post which will make people think. Also, thanks for permitting me to comment!

  2. This is certainly the third blog post, of urs I actually went
    through. However I really love this particular one,
    “timetradingguru.com ? Look at Income as Investments” the most.

    Thank you -Oscar

  3. [...] Work Life Balance and Goal Setting Carnival on The Time Trading Guru [...]

  4. Thanks for the mention!

    There are some great posts here to keep me busy on my day off.

Leave a Reply

All Blog Disclosures are noted here.