Hi, my name is Chuka and over the last 9 years, I’ve been particularly interested in how to create multiple streams of income.
I accidentally came about the topic as an employed executive, earning good salary and relying solely on my monthly pay to fulfil financial obligations and the ever increasing material desires! I thought I had it well mapped out but underestimated the impact and the discomfort caused by those unplanned expenses that occasionally crop up.
My overall expectation, aside from spending on things I didn’t need was simply to have a reasonable pension for retirement, until my coach and mentor heard my grand plan. He got me to think about more than saving for pension from one source of income. First he introduced me to the first series of Rich Dad Poor Dad books by Robert Kiyosaki. This was when everything changed. I began to perceive this notion of liabilities and investments differently. This was when I began to explore how to create multiple streams of income.
I also started to understand the limitations of living from paycheck to paycheck and the stress of dealing with unplanned or unbudgeted expenses. For the first time, I was thinking of and aspiring towards leaving a legacy or supporting some worthy causes outside of myself and desires. I recognised quickly that my salary could not enable these other interests to materialise.
So what next…
I began to explore other sources of income, some were passive income generators. However, every legitimate income stream demands diligence and some hard work.
One thing I failed to do during the early years of this new mindset was to do due diligence. On a number of opportunities I jumped in with feet first and therefore made so many mistakes that cost me a lot of money.
As the saying goes: the road to success is paved with failures. I have learned a lot from my mistakes and failures, including checking out opportunities out properly because opportunities are everywhere but sadly not all of them are legit.
Some multiple income streams opportunities can be done alongside existing full time job; a few hours here and there after work. There are work from home business opportunities as well and many of them are passive income earners. The key thing is what you are passionate about and through that you begin to create another income.
But what if I don’t need the EXTRA income…
That’s good news! That’s a great place to be. However, have you looked around your neighbourhood or watched the news about the world today? Many charities, agencies and research institutions are crying out for donations. Life is not only about money, it’s also about love, sharing, relationships and so on. This is why I am so passionate about creating simple multiple sources of income so I can make a difference.
I set up this website for a number of reasons including creating additional income source. It is primarily to share ideas about various simple ways of generating additional income. Do feel free to leave your comments and come visit the site from time to time for updates.
Thank you for dropping by and I wish you all the best with your income generation endeavours.