Multiple Income Streams to Financial Freedom

It goes without saying how important multiple income streams can be given the current state of the world. It’s been a very different place since this virus entered our lives.  It has caused us to social distance ourselves from those we love, to grocery shop with an unwanted adrenaline rush that’s not all that enjoyable, and taken away trips out with friends and family to the restaurants that we all enjoy for the time being.  The biggest wakeup for many of us though is just how quickly things can change financially.  We’ve seen millions of hard-working Americans instantly become unemployed, watch their savings dry up, or worse yet not having any savings to fall back on, to begin with.

Are You Paying Attention to Trends?

Over the last decade or so, I’d seen the handwriting on the wall which created the belief in me that I needed to create multiple income streams.  At the time, I was working for AT&T, as a matter of fact I worked for them for 20 years.  I’d seen the company downsize, change names, and cause heartache many times as many lost jobs amid those transformations.  I’d seen the tears of many who lost their jobs, and every time I wondered when it was going to be my turn for unemployment and job searching.  I knew I had to do something to secure my future.

A Surprise Gift When I Wasn’t Looking

In 2008, I decided to begin a health and fitness journey.  I did this with the help of products from a company called Beachbody, lost 80 pounds, and fell in love with everything fitness related.  This, however, wasn’t the best blessing that came about as a result of this journey.   The bigger blessing was the opportunity to help others begin their health and fitness journeys, by becoming a Beachbody Coach and creating multiple income streams.  I was rewarded financially for helping others transform their lives through health, wellness, and fitness. I did this while still working in corporate America with AT&T and diving in with vigor to my new “side” hustle.  It was crazy how much I loved it, and how much it grew over time. 

Leaving Corporate America was Sweet!

By the end of the 2nd full year, I had already matched what I was making weekly with AT&T, a journey that had taken 20 years.  By year four I was making five times what I was making at AT&T, and my financial outlook changed forever.  After another downsizing in 2012, along with an internal merger, what I feared personally finally came to pass.   I was called by my supervisor in New York and was asked to take a demotion, work more hours in a different role, in addition to no longer being able to work from home.  I wasn’t being let go, but it was a slap in the face after giving 2 decades to this company.  I decided that I was going to seize the moment and quit on the spot considering I had already created multiple income streams with Beachbody.  My supervisor was shocked, taken aback, and didn’t know what to say.  She thought that she had total power over the situation, as most people would in this situation.  Thanks to my side hustle, and the multiple income streams in Fitness Coaching,  she didn’t have that power, I did.  There is something very powerful about walking away from something on your terms,  something very powerful, even life-changing.  I could have never done that without those multiple income streams I had created.

Multiple Income Streams Create New Opportunities!

You see I had built that side hustle, those multiple income streams over the previous 4 years.  In easier terms, I had a “side” job that turned into my “main” job doing something I loved more.  In that ever-changing economic climate, I decided it was safer for me and my family to build multiple income streams on the chance that my corporate job was ever in jeopardy.  In a way that’s exactly what would have happened had I been forced to accept her demotion.

Fast forward a few years to today and I still maintain the same financial mentality.  I have added two additional streams of income to my main health and fitness coaching income in Disney travel planning, and Internet Commerce and Marketing.  Losing that income stream back in 2012 didn’t hurt me financially, however, I still felt the need to add new multiple income stream as a safeguard to anything that may happen in the future.

Both of my new income streams are currently growing.  The intent is to grow them to be as big or bigger than my fitness coaching because that’s just how I’m wired.  I’ve trained my mind to embrace the security that multiple income streams provide.  Truth is, I never want to feel the fear that many have experienced during this economic downturn in our country due to an unforeseen change or in this case an uninvited virus. 

Using Trying Times as a Catalyst for Change…

Taking control of your situation during a time like this that will forever be a part of our history, will put you on a path to being better protected if and when history repeats itself.  Use the fear and angst that you may be feeling to fuel you forward and create additional multiple income streams so that you never again feel the way many do right now in this current season that we are all living in. This is the time to put those “I don’t have time” excuses aside and create something for you and your family that can have long-lasting benefits and may lead to financial freedom as we move into what may be a new future.

The question is, are you ready to work to insulate yourself and your loved ones, by learning a new skill, pursuing that thing you’ve always wanted to do, or maybe starting a completely new venture that you might not have even known existed if not for this?

Check out our article on 5 Keys To Building Wealth for your Future for more information on Wealth Building and creating Financial Freedom.