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ENT 74: 78% of People Live Paycheck to Paycheck - Learn More Ways to Create Cashflow

Feb 23, 2020 • E74 • 00:14:23

In a study conducted last year, 78% of US workers live paycheck to paycheck.

This is a very scary statistic. Many Americans live paycheck to paycheck and have only 1 income source. Once your well runs dry, it’s over. We saw this with many Americans during the government shutdown last January.

 

When you build multiple income streams, they combine to make a river, which then leads to an ocean of wealth. I have built an income stream with websites, stocks, and weekend military drills. I have created multiple flows over the years, such as college and real estate, and I constantly am looking for ways to increase income.

 

College, a better job, a more lucrative business, is extremely risky if you bet the farm on that 1 skill or product. If your business is 100% youtube ads and one day youtube says it’s over, then you are in a bad situation.

 

ACTION STEPS – Reflect on yourself. Do you have 1 income stream? How long could you last without it?

Recommend Read: The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness

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