The only way to be wealthy, you must have multiple streams of income. Income can be active or passive.
Passive income takes time so the best way is to spread the risk. They are fixed savings, stocks, treasury bonds, mmf, fixed assets, forex. The only way to have successful passive income is to bail out any time you see a loss
Active incomes are salaries, business, pension. Advantage of Salaries is that they don’t have any losses. Business is very lucrative if done right. Advantage of a business is that You can control the hustle. That means you are the final decision maker on the profit margins. It is also advised to do one business at a time until it can sustain it self.
As long as the profit can cover the cost comfortably then you are okay to start another business. The biggest killers of businesses is stealing. Always be attentive on your employees. The same people who will make the business grow can make it close. The only way, is to do constant auditing on the finances. The more the business grows, start in investing in softwares and hire professionals to add value to the business. All in all, No one lives in a big house and drives a big car with only one income stream. The earlier you start the better
Haiya. Tunajua unapeddle reverse as one income stream. Unafanya gani zingine ndugu?
1 Like
Meffi
Sasa Meffi unauzia Nani?
1 Like