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Thursday, July 30, 2020

Why Everyone Should Have Multiple Streams of Income to Survive What’s Coming


We’ve experienced that dreaded pink slip, so for nearly three decades my husband and I have taken an alternate view on income. Rather than putting all our eggs in one basket and pinning our financial strategy on a single income source, we’ve developed a number of lower-paying part-time gigs – in other words, multiple income streams.

I call this the “many irons in the fire” method of earning a living. The idea is if one iron disappears, you have multiple other irons still sizzling in the fire and won’t be left destitute. You can then concentrate on honing those other irons into larger producers, either until such time as you find another “primary” job, or decide to permanently shift into having multiple part-time jobs.

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