This day in age with the sluggish economy, unemployment rates skyrocketing, jobs disappearing, employee furlough days increasing, and 2 income households being reduced to 1 income households – it’s time to get creative!

In prior generations, people typically had one job and one income stream. They also had more job security; now you’ve got to take matters into your own hands and create your own financial security. The best way to do that is by creating multiple streams of income. This way, if one stream dries up, other streams are flowing in. Moreover, if you want to make a 6-figure income, then multiple streams of income is the fastest way to get there.

Making a 6-figure income is challenging these days. Before the economy went south, many people in many industries such as realtors, mortgage brokers, commission sales reps, business owners, contractors, home builders and more were making a healthy 6-figure income. I know because I was one of them.

Luckily, it wasn’t my only stream of income. I’ve watched too many people over the years be given the pink slip without any warning and I never wanted to “depend” on one job because of that. So I learned a long time ago to create multiple streams of income. If you were investing in the stock market, sage advice would be to “diversify”. Well, it’s time for you to do that with your personal income to protect yourself, your family and your assets.

I was recently looking at my income for the past 30 days and there were 15 deposits in my personal bank account. When I broke that down into categories from my different streams of income, I calculated that I have 6 streams of income. Don’t you think it’s easier to earn 6-figures from 6 streams of income ($1666.66 per month from each stream) than it would be to earn $8,333.33 per month from one stream?

I’m not saying you need 6 streams of income right away, it’s something you build up over time. It’s taken me several years to have 6 streams of income, but I have less worry and stress because if the unexpected happens and one of those sources dries up, then I have those other streams coming in. I can then re-focus my energies on the streams that are flowing in to increase that flow even more.

Here are the 6 categories of my multiple streams of income:

1.  All commission sales job;  
2. Base salary and commission sales job;  
3. Online income generated from my website;  
4. Network Marketing Income from a technology company  
5. Direct Sales Income as an Independent Broker with an Energy company;  
6. Rental Income.  

My recommendation for you is to diversify, diversify, diversify and start creating new streams of income now. You’re probably wondering what new stream to create first?

There are 100,000 ways to make $100,000; you need to do what makes you happy and what you are passionate about. Choose something that you would do anyway, even if you weren’t getting paid. I also believe that you should choose something where you can help people; find a need and fill it.

I can’t tell you which path to choose. I can only suggest ones that I’ve chosen that have worked out for me. If you have a 9-5 job, then you’ll need to pick something you can do part-time or in your spare time. That’s why I have income from my website (online courses, coaching, writing) an outside sales job, and 2 part-time direct sales/network marketing companies as well as rental income. I can work those businesses whenever I choose to and as much or as little as I choose to. There is a lot of freedom in those types of business models.

They say when the student is ready, the teacher appears. Start looking around at different opportunities or different businesses that peak your interest, do your research and then take the leap. Don’t over analyze them either. Then once you get one new stream of income going, you can add another and another and another. If your goal is to quit your day job, that’s a realistic option when you have multiple streams of income! If your goal is to earn a 6-figure income, you have a much better chance of doing that when you have multiple streams of income coming in.

My “newest” stream of income is from a direct sales position as a Energy Broker for North American Power.  I love it because it has residual income attached to it.  I’ve received thousands of dollars from upfront commissions and now my residual income checks are starting to flow in and I am so excited!  Do the work once and get paid over and over.  If you’d like to learn more about becoming an Energy Broker with me, then please visit my other website at: www.energybrokercareerpath.com and see if it peaks your interest.

Start looking around now for your first additional stream of income and then build your 6-figure income from there!