One of the great failings of our education system is that it only prepares us to get a job. That is, an assumption is made that we will only ever work for someone else, exchanging our time for money for 40, 50 or more years (a poor exchange as it turns out) and then we retire, if we are able.
Very few subjects or courses prepare us to become entrepreneurs, or that we might actually build a business for ourselves, rather than helping someone else’s business grow.
If your job is your only source of income, this leaves you very exposed should there be a downturn in the economy or disruptive technology makes your job obsolete.
I recommend that you develop and build multiple and alternative streams of income, so that if you do lose your job for whatever reason, or a stream of income you already have dries up and closes, you have other streams to cushion the blow. Five alternative streams is a good number.
Here are just some areas you can look at:
+ Cash
+ Business
+ Real estate
+ Trading
These are just a few or a number of other areas that you can explore to create an income stream. If you would like some help with identifying areas where you can create alternative streams of income, please contact me to discuss further.
Mobile – +61 419 726 161
Email – kathy@financiallywise.com.au