Are you a civil servant or you work with the private sector? Is your take-home pay taking you home? Are you already at the brink of retirement and you are leaning on fate to see you through, pending when the government will decide to settle you? Are you depending on only one source of income? The bitter truth is that financial freedom does come from depending on only one source of income. The present economic situation globally and nationally has made it mandatory that we begin to think outside the box and diversify our sources of income. Irrespective of the current job or business you are engaged in, the need to have working and multiple streams of income has become paramount. Having only one stream of income is like putting one’s eggs in one basket which often leads to financial slavery.
It is a truism that everything that exists on this part of eternity is vain. However, you need to enjoy the good of the land. Hence, you have to make all necessary efforts to have multiple streams of income. You may think that you are unfit to become a business mogul. Then you need to sit tight as you really need an intensive orientation. Everybody is born with potentials. You need to look within and discover that unique ability that makes you special. As a teacher, you can write academic books.
A lot of students and pupils are finding it difficult to understand certain concepts of some authors, especially the foreign authors. Having taught for years, it is expected that you are conversant with the academic needs of students or pupils. Becoming an author may be tasking and capital intensive but it is worth the investment. However, self publishing is not encouraged. Although it is a challenge to get a reputable publisher to publish your books, you have to give it a try until you succeed. If your book is accepted then you have opened a new stream of income that will turn your life around.
There are other areas you can invest in. Agriculture is the main stay of the economy. As a civil servant you definitely have access to loans except you are heavily indebted. Agriculture is large. We have fish farming, poultry farming, and piggery; in fact the list is endless. It is important to state that going for intensive training on any agricultural venture you want to embark on is important This is due to the fact that lack of technical know-how may lead to loss of investment.
The transport sector is another gold mine. There are many young men who have no capacity to purchase any transport facility. You can purchase either a motorcycle, tricycle or a taxi and give them out on daily balancing or hire purchase. Ensure that you use the services of a lawyer to seal the deal. This way you have become an employer of labour thereby contributing to the economy. This is not the time for “sit down look.” We must wake up, take up responsibility. Having these streams of income will reduce your financial stress on or before retirement. However, you must be discreet in your investment. Invest wisely.