You may not realize it, but most of us have multiple sources of income. For example, the contributions you’re making to your retirement are earning interest will become a new income stream. These additional income sources will be in addition to your salary—and they will make all the difference in your standard-of-living—especially in retirement.
But, why not go a step further and generate even more income streams? It’s a surefire way to help you reach financial goals like paying off debt or purchasing a home.
More importantly, it helps build your wealth so that you don’t have financial stress. If you lose one source, you have another to fall back on. And, thanks to diversification, this mitigates potential financial losses, like if the stock market crashes.
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