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5 streams of revenue

  • 21 Aug 2023 4:54 PM
    Message # 13243790
    Anonymous

    Hello There,

    If you have been to the meet ups, you will notice I continually mention that one of the keys to financial success is to have multiple streams of revenue.  I was told 5 streams of revenue (others were told 7).  Two you actively work on and the other three generate revenue on their own.  One way is investment.  Investing in the stock market can be a little bit of a gamble but if you do your due diligence, it can generate revenue for you in the long term.  Investing is not a way to generate quick cash, it is a long-term goal.  But if it is something that you may want to learn more about here are a few books that may help.

    • “A Beginner’s Guide to the Stock Market: Everything You Need to Start Making Money Today” by Matthew R. Kratter. This book is a simple and practical guide that covers everything from opening a brokerage account to picking stocks and creating passive income. It also explains how to avoid common pitfalls and mistakes that beginners often make. This book is ideal for anyone who wants to start investing in the stock market with confidence and ease.
    • “The Intelligent Investor by Benjamin Graham. This book is considered to be one of the most influential and timeless books on value investing. It teaches how to analyze stocks based on their intrinsic value, rather than their market price, and how to find undervalued companies that offer long-term growth potential. It also provides advice on how to manage risk, diversify your portfolio, and avoid emotional biases. This book is suitable for anyone who wants to learn the principles of value investing from the master himself.
    • “The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns” by John C. Bogle. This book is a concise and clear introduction to index investing, which is a strategy that involves buying and holding low-cost funds that track the performance of the entire stock market or a specific segment of it. It shows how index investing can outperform most actively managed funds in the long run, while saving you time, money, and hassle. It also explains why you should avoid chasing hot trends, timing the market, or paying high fees to fund managers. This book is perfect for anyone who wants to learn how to invest in the stock market with simplicity and efficiency.

    The above list was compiled with some AI help and I have one more that I like which is "Rich Dad's guide to Investing: What the Rich Invest In, That the Poor and Middle-Class Do Not" by Robert Kiyosaki.

    Hope this helps.  :)

    If you have a book that you feel will benefit the group, please feel free to share and create a topic.


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    Last modified: 21 Aug 2023 4:55 PM | Anonymous
  • 23 Aug 2023 10:00 PM
    Reply # 13244970 on 13243790

    Hi everyone,

    I have been giving a lot of thought to the 5 streams of revenue. I have attached a description of my first attempt at diversifying my income stream. I realized my office space is being underutilized. After all of the hard work and love that has gone into getting it to where it is, the last thing I want is for this space to be underutilized.

    If you work from home or out of coffee shops, I encourage you to consider reading the document attached. When you find yourself needing a break from your home office (or your family and pets ;)), you are welcome to use my space and feel energized and focused by co-working with me in a quiet and beautiful office at the corner of I-45 and Cypresswood. You may spend less than you would while staying for several hours at a coffee shop and will get more done!

    Please see attached and share with trusted friends and colleagues.

    Peace,

    Carolina


    1 file
  • 24 Aug 2023 10:27 AM
    Reply # 13245158 on 13243790
    Anonymous

    Love this!  I've been to your space and it is so calm.  :)

  • 25 Aug 2023 10:44 AM
    Reply # 13245651 on 13243790

    Way to think outside of the box Carolina. 

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