Income and Wealth
Diversifying Your Income - the Safest Road to Success and Freedom
The safety of multiple income streams is unmatched in the modern economy
I see income as a means of acquiring freedom.
I’m not a hoarder, just minimalism for me thanks. Notice that I don’t believe money is the path to freedom; rather, setting up streams of inflowing cash that allows you to live with less stress. This also may, if your stream flows well enough, free up your time so that you may use it for whatever you like rather than selling it to someone else for a wage.
In all my time studying and thinking about investing and income, I have come across two very distinct schools of thought. Put into the simplest terms, modern financial wisdom can be stated as such:
The middle-class diversify their investments, the wealthy diversify their income.
All my life I have watched the talking heads tell us to diversify our investments. They say, “buy gold, buy index funds, don’t try to beat the market”.
This “wisdom” isn’t really designed to benefit the investor, but rather, the banks, financial planners, and investment gurus who have so ingrained this way of…
