Multiple Sources of Income
The only way to become a millionaire is to understand the real meaning of "Multiple Sources of Income".Nowadays, the prices of products and services are climbing high especially the petrol. This is a global issue that most of us concerned about.
Initially, the most important source of cashflow is your primary income from your job or business. Live below your means and use surplus income to invest every pay, no matter what. Upon retirement at age 55, what would you get? can we depend on the pension the rest of our life? according to research, within 2 years after retirement, most people had already ate up their retirement fund.
One Pay Check Is Not Enough!
Money issues is what we do much of the time, yet it is not taught in schools. Build multiple sources of income for your life. Multiple sources of income are your key to financial abundance. A major key to building wealth is in making your money work for you, instead of you working for your money.
The Compounding Effect of Money
Even one dollar can turn into a million dollars in a certain amount of years at a certain compound interest rate. One dollar, just one dollar, can grow into a million dollars all on its own without your intervention. You would be pleasantly surprised to know that a single dollar placed into an investment that grows at 20% a year will become $1 million in 75 years. That is just one dollar! All you would need to do is leave it alone, go away, go to sleep for 75 years, just leave it alone. When you return it will be $1 million without any effort from you, other than your placing that single dollar at the beginning!
posted by Chyong Huey @ 10:24 PM
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