Passive & Multiple Sources of Income

No one may get rich working for others. One can get rich only when you have other people working for you or your money working for you. You have to consider two major sources to increase your income; create a passive income and get multiple sources of income.

First, you have to save up some money and take calculated risk to invest it wisely to earn a passive income. Passive income can be bank interest earn, unit trusts investments, stocks and shares and even rental derived from renting your residential or commercial properties.

Then, you have to manufacture or sell multi-line of products (for manufacturers and re-sellers). You have to manage more 'taps' to get multi flow of income, especially during the current turmoil, fuel hike and rise of food prices.

I want you to think about a female cow. It has 6 nipples. If you are a farmer and you only tap milk from one of the nipples, you are not getting enough, and you may remain poor. You should tap from all the six nipples!

Are you in discomfort or in boiling water

The recent global fuel hike and food shortage are making it difficult for retirees to cope. They are old, frail and weak. They cannot turn back the clock and they regret for not having more money saved for retirement.

For the rich or those who are above average, they still can cope with the rise prices of groceries and transport, because they have a 'gap' for adjustments. They can travel on budget airlines instead of economy class, or even travel on buses. They can ride a bike to work instead of driving there. They can queue in general hospitals for treatments instead of going to private hospital. They are going through discomfort or inconveniences now.

For the poor, they are already riding to work, they are already queuing in general hospitals, they are already find it difficult to cope with life even without the fuel hike. They are now in trouble! They are now in boiling water!

Are you going through the stage of discomfort or are you in boiling water?