Building wealth is something that comes over time, as long as you work towards it, if you don’t… What happens is that things happen to you.. And you have no control over them. If that’s what you want, then sure. But if that’s not what you want, then you have to make a shift.
Understand that creating multiple streams of income is something that grows over time.
Also understand that an income source may dry up, and that you need to look for other (new) income sources.
This video is about how I created my 6 streams of income in my 20s, now currently I am not in my 20s anymore, but when I look back at my 20s, I am glad and happy I made the choices I did, although some times it felt like a horrible choice, but now, looking back… I’m happy I did.
My first stream of income was from my job as a (junior) professor, at the age of 21, right off the bet, graduated, I thought I did a great job, young and already highly educated but understanding that when I stop my job, my income would stop as well, this meant I needed to created other streams of income to keep receiving money, even if I would stop my job.
And with this, my second stream of income was the money I invested in dividend stock. I didn’t know what to do, the only thing was.. Listen to the advice of another… And that’s how I just bought a dividend stock for a $1000. This would give me around 50 dollars per year..Not that much, but it was certainly a start
The third stream of income was investing in index funds, and not only once, but investing systematically, using the dollar cost average method. Each month I would invest $100 to spread the chances of making money and decreasing the chances of losing money.
The fourth stream of income would come from the courses I would teach online, first with the material I created already, and later on specifically to support people in certain needs. Making from $50 per month to $1000 per month.
My fifth stream of income would after purchasing my first rental property. I would use the excessive money made from index funds, to purchase real estate, and from that I would get a 10% return on investment.
My sixth stream of income in my 20s was buying real estate in the us and act like a bank and sell off mortgages to people who are looking to purchase a home. And with that, I would make much more return on investment.
If you are interested in how I created these streams of income, why not just reach out to me :)