Keith Craft: Rule #9: Develop multiple streams of income.
Rule #9: Develop multiple streams of income.
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The thought behind the quote
"Multiple streams of income are the key to financial wealth." @leadershipology
Read the full thought
In 1987, I begin to THINK multiple streams of income. I was 27, and for the first time since graduating from college in 1982, I had 2 sources of income. This was one of the ways that over the next 13 years by 2000, that @sheilagcraft and I became millionaires (Rule #4: cash money in retirement to never be touched) If you have been following my posts about #mymoneyrules then you know, these #moneyrules are sequential and all relate to one another. I could have never accumulated over 1 million in cash with just ONE source of income! I could have never accomplished my financial goal if I had not lived by Rule #2 Creating Financial Margins of 70/30. I would have never financially secured my families future without ALL of the Rules #1-8...and certainly would have never gotten there if I didn’t have MULTIPLE STREAMS OF INCOME!
I won’t take time to go over my multiple streams of income strategies (you need to join one of my Masterminds for that:) but I will tell that Rule #8 has been a BIG part of my ability to do that. Real Estate not just homeownership but I have invested in REIT’S since the ’90s, diversified investment portfolio, etc...and, of course, learning to monetize my God-given gifts.
Many of you know I have written a book called #YourDivineFingerprint and the premise of the book is this: "You have a fingerprint that no one else has to leave an imprint that no one else can leave!" @leadershipology
I leave you with this: You have a 1% in your DNA that is your X-FACTOR for success! In very practical yet non-competitive terms, that means that in YOUR 1% lies an ability to DO SOMETHING better than 99% of other people!!! Again, not comparing yourself with anyone, but seeing your value that you can add to others!! And here is the BIGGEST deal for you: Your 1% CAN BE MONETIZED!!
As a part of my 1%, God has called me to help people discover, develop and deploy their 1% and to THINK multiple streams of income with what you’ve been gifted by God with...that ONLY YOU can turn into a talent...that becomes a Competency and AT THAT POINT...another income is possible!
Related
- What you learn will eventually determine what you earn.
- Rule #1: Put God first (return the first 10% or tithe).
- Rule #8: Whatever you are naturally gifted at, can become a talent. A talent has the potential to be monetized when it becomes a competency.
- Resources are useless without relationships.
- A grain of gold will gild a great surface, but not so much as a grain of wisdom.
- Money spent on ourselves may be a millstone about the neck; spent on others it may give us wings like eagles.