99 Words On…Income Diversification

We always hear financial experts advising us to diversify our investments to minimize risk.  “Don’t put all your eggs in one basket,” they say.

But how come no one ever talks about diversifying your income?  Think about it.  If all of your income comes from just one source, what would you do if that source suddenly dries up?

Developing multiple sources of income is one of the best ways protect yourself from job loss.  In today’s economy in particular, we should all be looking for new ways to expand our income and protect ourselves from the worst case scenario.

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Mike is a freelance writer and blogger who specializes in finance and parenting topics. He is a dedicated husband and father of three who is obsessed with creating multiple streams of income and building wealth so he can achieve true financial freedom for his family. Like what you're reading? Subscribe to our free RSS feed and follow us on Twitter.

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  1. says

    Great post, keep it up ..only 99 Words cool!!. Income diversification is very important, but I am at a point in my life where I do not have significantly enough income to really diversify. Maybe my income will pick up a bit in the near future and things will change. Right now, my income mainly comes from my work, but I want to change that.

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