- Tentmaker's Toolbox
- Posts
- Toolbox #7: Multiple Streams of Income
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.
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.
Jeremy
💻 Links & Resources
Article: Charles Spurgeon on Bivocational Pastors: Discover why he thinks bivocational ministry might be the ultimate ministry hack.
Preaching for a Change by Brandon Cox: I’ve very picky about my inbox and which things I subscribe to, but this is a fantastic newsletter for those in ministry and one that I actually look forward to getting each week. Check it out here. (not sponsored)
🚀 How I Can Help?
That’s all for today!
Whenever you’re ready, here are 3 ways for us to work together:
Join our Free FB Group: You don't have to go it alone. Tap into the wisdom of our community with over 2700 like-minded individuals navigating the same journey.
Alejandro Reyes and I are putting together a brand new case study group showing you how we're integrating A.I. into our tentmaking businesses. Just hit reply and we’ll send you all the details.
Promote your business to 9500+ pastors and church leaders by sponsoring this newsletter. Contact me here.