The concept of having “multiple streams of income”, “bein’ in yo bag” or “working for yourself” is far more than just making money... it’s about sustainable income. You can make $1,000/week for the rest of your life but if you’re not investing, saving, accumulating valuable assets — that money is gonna be shortlived.
Spend money on something that’s gonna help you make it back and some. I’m not telling anyone not to reward themselves with cars and clothes, cause PLEASE believe I’m going to do the same, but knowing exactly how to manage and maintain your money is gonna allow you, your family and your bloodline to enjoy the coin as well.
Here are 3 ways to make sure youll always be able to make a dollar out of fifteen cents:
• Small Businesses
• Projects that guarantee a return!
• By now you should definitely have more than one bank accoun, and most definitely have a savings account! — be mindful of the 80/20 rule : save 80% of your income and do as you please with the other 20%
• Start businesses that are going to be just as necessary 20 years from now as they are today AND that can evolve with the times while staying in demand
• Make sure you’re handling all your legal documents accordingly, especially the ones that deal with ownership and control
• Family LLC: a popular method to protect the assets of a family against claims by creditors, divide income among generations and provide opportunities to engage in estate planning.
That’s a start.
LETS GET THIS COIN AND KEEP THIS COIN!
Favor, Peace & Blessings