Your Future Depends on Multiple Streams of Income

At some point, every woman has to start over in life. It won't take the worst case scenario to make it happen. You may move to a new city, get a divorce or even change careers.

The process of rebuilding is not something to be afraid of. It is a natural part of your transition from one season of your life to another.

To ease the financial strains of rebuilding it is wise to understand that your job should never be your sole source of income. With a hustler mentality, a mentality that drives you to create multiple streams of income, your transition into your new life will be made much easier.

To set yourself up for your future success, it would be wise to:

1. Invest in your company's 401K. If your company offers this savings plan, use it. It doesn't matter if you don't see yourself staying with that company until you retire, it is a good way to save.

2. Learn how to perform a service with your hands. If for some reason, this society reverts back to a rudimentary way of doing things, for instance, all of the computer systems crash and we go back to a system of bartering, you won't be at a loss. Learn how to cut hair, cook or fix plumbing. Gain skills as a nail technician or my personal favorite- a waitress. Every city has needs for these type of services. No matter where you go, you will find work.

3. Create a product- What is it that you can do better than anyone else? Turn that into a product to sell. Forget about credentials or degrees or someone qualifying you. If you know you can do it, go DO IT. Keep doing it. Qualify yourself through experience.

4. Glamorize who you are. Whatever your situation, you should start sharing it. No one goes through unique experiences so there is someone out there who can learn as you learn. Even if you believe your life is one unlucky experience after the next, share what you have learned through these experiences through a book, a blog or a seminar and develop yourself as a brand. Your misfortune could create your fortune.

5. Investment properties. If you can manage during the upswings in life, buy properties as investments. When things shift, as they always do, you'll have income to fall back on if it means you have to rent or sell your properties.

It is essential that NEVER allow your job to be your only source of income. This creates the illusion that your job is the source of your well being. It is not.

Posted in: Financial Assistance