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But if youve never built multiple streams of income before,where do you start?
The Foundation: Your Full-Time Work
The source of all your future wealth starts with your salary.
Specifically, it comes from your savings rate or the difference between what you spend and what you earn.
You invest your savings to multiply, eventually generating plenty of passive income.
The three income streams you oughta become a millionaire are real estate, real estate, real estate.
I have made more money on flipping houses than any other single income stream.
Of course, flipping houses isnt the only way to invest in real estate.
Its an important point.
Actively buying properties asrentals or flipsis only one approach.
These funds help you diversify your stock portfolio without you needing to make a single purchase.
Interest Income
you could also earn passive income from interest by lending money to others.
Business Income
Starting a business takes a lot of upfront work.
But as you scale, it’s possible for you to delegate work to employees.
Alternatively, build a digital product that you could sell to generate additional passive income.
Lauren Cobello, founder ofLeverage with Media, has used entrepreneurship as her primary path to wealth.
Ive started two million-dollar businesses and the first one used three streams of income.
The business I run today only hasone revenue stream.
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