We all hear a lot about multiple streams of income, and I believe that, in this day in age, it is important to have many ways to increase personal income.
That said, I think approaching this from a standpoint of “anything and everything,” will hurt you.
That’s why I believe it is important to consider your investments carefully. Not for fear of loss, fear is a waste of time, but because you WILL lose if you spread yourself thin.
Keep your investments SYMBIOTIC. Meaning able to be managed within your main flow or flows of income. There is no such thing as “passive income” until you have solid flows of income produced by HARD WORK. This is a fact I don’t care to debate.
Because creating the big, solid flows of income that will allow you to gain passive income takes work, it also takes precious time. So whatever you’re doing now to gain wealth, make sure what you’re taking on will coincide with it.
For instance, if you’re selling cars, getting into an on line automotive lead-gen business (within any non-compete rules) would benefit you, your dealer, and those seeking new cars. A WIN WIN WIN that keeps you in your lane, while generating more streams of income.
It’s smart to diversify, just remember, there is plenty of traffic in the lane you’re in.