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Develop multiple streams of income for security from "summary" of Set for Life by Scott Trench
Having multiple streams of income is crucial for achieving financial security. The traditional approach of relying solely on a job for income is risky - if you lose your job, you lose your income. By diversifying your income sources, you can protect yourself against unexpected setbacks and ensure a more stable financial future. One way to develop multiple streams of income is to invest in assets that generate passive income. This could include rental properties, dividend-paying stocks, or a small business that runs without your day-to-day involvement. Passive income requires upfront effort to set up, but once established, it can provide a steady stream of income with minimal ongoing work. Another strategy for creating multiple income ...
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