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Creating Multiple Income Streams
Maximizing your income
I know many people who got a job out of college, worked there for 30 or 40 years, and then retired. How many people expect that now?
Nowadays, it seems like people are freelancing more than ever. Or even if you have a full-time job, you need a side hustle.
When I was young, I thought I could write a novel every year, and live comfortably as a writer. After all, people did it, right?
Yes, a select few. But I realized that the vast majority need to have multiple income streams to make it as a creative professional. Very few writers just have one source of income. And if you do, what do you do if it dries up?
This is an idea I first encountered in the book Making a Living Without a Job, by Barbara J. Winter. I’ve had a job all through my 20s and 30s, but I’ve found this book invaluable for supplementing my income and making money by writing.
Multiple income streams goes beyond the concept of a “side hustle.” It’s like a prism: it involves exploring every opportunity to maximize your income.
I’m a writer, but you can apply this principle to just about anything: tech consulting, art, or healthcare, for example.
