Multiple Income Streams

What do you think is safer and more diversified?  One income stream from one source or multiple income streams from many sources?  Obviously multiple streams is best.  That means that most of us that rely on one W-2 income job have a lot of risk should they lose their job.  Having a significant emergency fund can help.  What also can help is having other income streams from things such as a side hustle, rental property, investments, etc.

Write a love letter to your spouse or significant other or family members that tells them key information that would save them lots of headaches should you pass away or become incapacitated.  This would get them the critical sites and passwords for investment accounts, insurance policies and bank accounts.  Without this information you are creating a big hardship on a loved one to figure all of that out if something should happen to you.

Welcome To SmartMoneyToolBox

Hi, my name is John. I am a CPA who has worked in both public accounting and private industry since my career began in 1990. Building financial security is a marathon - not a sprint. It’s not a get rich quick formula. If you provide the effort, SmartMoneyToolbox will supply the tools!

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