theratracejournal.com

“Multiple streams of income.”

Robert Allen has written a book that goes by that exact name. While it is a very well written resource for people intent on making millions, it’s not exactly what I’m looking for.

It suggests using the stock- market, along with real-estate investments, as a way to set up your multiple streams. Its main purpose is to help people find ways to generate money – lots of money – so, in a way, it’s kind of overkill for my needs. However, he does have some valuable generic information that I have taken notice of.

My multiple income strategy will be a little less glamorous, I’m afraid. It will likely consist of a combination of wages and self-earned income.

Initially, I was thinking about landing two “slacker,” low-stress, part-time jobs. These positions would be low-key and would fit the “multiple income streams” model. Ideally, there would be little stress and pressure, and hey, if I didn’t like one, I could quit and still have the other. That would provide redundancy and lower stress because there would not be so much riding on one job - my ideal state.

These “disposable” jobs are stress-free because they don’t matter. They are a dime a dozen, so leaving one is no big deal. You see, one of the reasons I was so stressed out at my previous job, was because I had so much riding on it. It was high-paying and secure – it was a career, not just a job. Corporations know this, and pay you just enough so that you’ll think twice about quitting. The price you pay for getting a decent wage is that you have no choices or freedom – it’s their way, or the highway.

I won’t be opting for the two part-time jobs. I really don’t want to put all my eggs in the employee basket. My goal will be to generate my income from wages and self-employment endeavors. In my opinion, this will provide me with even more freedom and choice.

Now, the low-paying, slacker job is a given. I could go out tomorrow and get one that pays $8/hr - I’m not worried about that. However, the other part – the self-employment part – will take a little more time, effort, and skill. Fortunately, I have enough money to get by for a while. That takes a lot of pressure off.

So, that’s my plan. I’m hoping to maintain my minimalist lifestyle by holding down a part-time job, and by earning money through self-employment. If things go well, I will probably opt for part-time, self-employed wages.

For now, my focus will be on getting my venture off the ground. I’m hoping to have something relatively reliable by next spring. After that, I’ll apply for any one of the numerous, low-paying jobs I see every day.

One thing I need to do right now, is lower my monthly expenses. I need to get out of this high-rent area of the province. I really don’t need to be here anymore.