Ask almost any financial expert about some of the keys to building wealth and one thing they will say is, “diversify your financial portfolio.” This means have your money work for you in multiple places, e.g. 401k, Roth IRA, Stocks, Bonds, Mutual Funds, etc.
If you can diversify the way your portfolio works, why not diversify how you make your money? That is, have multiple streams of income from different sources.
Look at any billionaire and you will see they have multiple businesses which make them multiple stream of income. Relationship Marketing is a Business Model for ‘Everyday’ People to Have Multiple Streams of Income Too.
Doesn’t it make sense to work hard for a few years for a business you can own, a business that is a willable, salable asset with tax advantages? Multiple billionaires own relationship marketing businesses:
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Richard Branson
Virgin Group
Virgin VIE |
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Donald Trump
New York City
Trump Network |
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Warren Buffet
Berkshire Hathaway
Pampered Chef |
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Wayne Huizenga
Miami Dolphins, Blockbuster
Herbalife |
Robert Kiyosaki, is an American investor, businessman, self-help author and motivational speaker. Kiyosaki is best known for his Rich Dad, Poor Dad series of motivational books and other material. He has written 15 books which have combined sales of over 26 million copies and he says it best:
“The days of lifetime job security and your mutual funds going up by 20% per year are over. If you think your mutual funds will carry you after you retire, I think you had best make other plans. Why? The idea of high paying jobs and pension funds that increase by 20% per year is an obsolete idea. America is at war, battling an invisible enemy, an enemy without a country. On top of that, China is expected to pass the U.S. as a world financial power in less than ten years. It does not take a crystal ball to see that there will be plenty of jobs in America, but fewer and fewer will be high paying. Why? Because the Chinese are smart, hard working, and willing to be paid less... much less.”