@JamesAltucher has provided so many outstanding ideas for “side hustles” that everyone should understand now that multiple streams of income are important to your financial well being
AI image is eerie
1. Being dependent on a single source of income is scary
How we ever got to the point in the US that working for a large company for 30 years to get a promised pension (an aberration after WWII) is beyond my understanding even though I study behavioral economics.
2. Being dependent on a government handout is even scarier since politicians can remove it any time they please
3. While you still have a J-O-B you definitely need to start building other sources of income which YOU control
4. Setting up a side business doesn’t have to be difficult
With improvements in technology, most businesses you’ll start only require a phone, an internet connection & a tablet or laptop
5. You do need to understand that you will still have to “do the work” to get going, but so many repetitive business tasks can be automated or assigned to virtual assistants
6. The great thing about side businesses is that they can grow to exceed your job income, giving you a choice of keeping your job or making your side hustle your main income source
7. To catapult yourself into financial freedom, IMO you are better off working smart while you are young to expand your financial assets beyond having a cushion into the ability to invest in assets & have the power of compounding working
8. Everyone will eventually run into some problem or issue that will test your ability when the going gets rough
9. If you can discipline yourself when you are young to push through the problems you will have a brighter future
10. You’ll always have problems, even if you do well financially; they’ll just be different ones!
11. P.S. Be a minimalist. Stuff should not add to your financial fixed expenses or you’ll be handcuffed to your job!
No comments.