Toolbox #7: Multiple Streams of Income

Hey Tentmakers.

I've always been a bit of a bookworm, especially when it comes to investing and personal finance.

Takes me back to the early 2000s when I stumbled upon Robert Allen's book, "Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth!"

I mean, multiple streams of income? That was a whole new world to me!

As a young pastor, it was like someone just handed me a map to a treasure I didn't know existed.

Growing up, the mantra was pretty straightforward: study hard, land a good job, save as much as you can, and maybe - just maybe - you'll have a comfy retirement by 65. Sound familiar?

But here's the thing, no one ever whispered in my ear, "Hey, why not have more than one income source?" 🤔

You've probably heard the golden rule of investing: DIVERSIFY. Basically, don't stash all your treasures in one place.

But what about diversifying our income? Why isn't that a thing?

The Bible has something to say here:

Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.

Ecclesiastes 11:2

Fun fact: Did you know the average millionaire has not one, not two, but SEVEN streams of income?

I might not be swimming in millions (yet 😉), but we’re getting there.

But hey, it wasn't always sunshine and rainbows. There were times when making ends meet felt like climbing Everest.

So here's my two cents for you: Why wait? Dive in and start building that extra income source NOW.

My rule of thumb? Aim for something that can get you $1000 a month to start, with the potential to grow to $8,000-10,000 on the side.

Your mission, should you choose to accept it: Stop overthinking and start DOING.

Drop me a line and let me know how it goes. Promise, I'll read every single one.


💻 Links & Resources

Article: Charles Spurgeon on Bivocational Pastors: Discover why he thinks bivocational ministry might be the ultimate ministry hack.

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