Streams of Income

A theory in personal finance is that you should have more than one stream of income. A job only gives you one stream of income and if you lose that surviving can be tough.

Personally, I just invested in dividend paying stocks to get another stream of income when I was working. I invested in different industries, but it was only in the stock market. At one point I was making more in net income (income less taxes) from my investment portfolio than my job. That was when I stopped working.

What I liked about investing was investigating companies. There was nothing online at that time, after all this was in the late 1970's, so I spent a lot of time at Metro Library. I did not get connected to the internet at home until 1994. At that time is was all dial up networking. I know that www programming was out there but I saw nothing of it at first.

It was interesting getting on the internet. I convinced my boss that if I learned how to use the internet it would increase my marketability as an employee and therefore I would be worth more to the company. What better way to learn the internet than for me to have a modem attached to my home computer? My company paid for the modem. Someone told me about Pathway Communications. Through them I got internet access for $10 a month. But this is really off the subject.

I should go back to talking about streams of income. People can get other streams of income in different ways. Some get a part-time job. Some invest in real estate. Today you can get small and large jobs through the internet.

For me, I still love investigating companies and reviewing the companies where I have shares. I loved my job, but I was much more interested in reading and investing. I think that what people need to do is to discover what they are passionate about and then try to find a way of making some money from it.

On my other blog I am today writing about Wajax Corp. (TSX-WJX, OTC- WJXFF) ... continue...

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

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