Multiple streams of income. Bare with me because I had a rough day and was just introduced to some new platforms and information. What does this mean? I’m not exactly sure, yet, but I did warn you.
So, the other day I watched a movie about the founders of McDonald’s then, I saw a question on Quora about the founders of McDonald’s. Or the question was about some entrepreneurial dealings and the answer was about the aforementioned. Doesn’t matter.
The main point of the story and what I actually have a reference to was this: “Former McDonald’s CFO, Harry J. Sonneborn, is even quoted as saying, “we are not technically in the food business. We are in the real estate business” (blog.wallstreetsurvivor.com/2015/10/08/mcdonalds-beyond-the-burger). So, at the minimum, McDonald’s receives income from the burgers, the land, and the franchise rights. No matter how bad I butchered this story, I feel there’s no denying the importance of the old adage, ‘don’t keep all your eggs in one basket.’
Warren Buffet is also an old rich guy that could teach us a little about diversification. I’m certain you’ve heard or read about his investment advice pertaining to index funds but I tracked down a link that seems interesting here.
I may not have put enough emphasis on: #passive income, either but this is what I am striving to build now, and what I wish to help you build. What do you think is hardest, getting one person to pay you a million dollars or getting one million people to pay you one dollar? Of course, Warren Buffet isn’t allowed to answer this question. This is how we build financial freedom:
#positive cash flow
I know this is hard with a wife but get it right and she can buy as many ‘oooh, it’s pretty!’ shoes as she wants (over kill on the misogyny only because my ol’ lady upset me. Ladies, you know I love you and this applies for your spoiled a$$ husband wasting next months rent on Xbox games and saying they’re for your son but doesn’t let him play cause ‘he’ll scratch the disk and erase my profile!’, too.) Sorry, got carried away.
#multiple streams of income
We already had this conversation. If McDonald’s starts selling (admitting *ahem!* jk) GMO and human engineered, steroid injected, twacked out chicken nuggets full of glutes and Alicia ketones or whatever, and all you have is $10,000 worth of shares for that beautiful dividend yield, probably won’t have much money left the next year after the class action lawsuit because they might finally cut that dividend yield down. Exaggerated, yes. Point made, hopefully.
My friends (i.e. people that know of my existence and besides only wishing, actually try to help me pull my head out of my ass), know that I am on my tablet 24/7, ignoring my whole reality (i.e. just found out the world wasn’t flat. So, I will be reporting the facebook group I believed in so much before anyone else has the chance to drink the Kool-aid.
And I love Kool-aid so much 🙁 ).
It is hard, time-consuming, and potentially damaging to your relationship but well worth the effort once you gain a substantial amount of passive income, meaning of course, that you don’t have to be actively involved in making the money, like instead of trading stocks, investing in dividend stocks or REIT’s (real estate investment trusts) and collecting dividends, for example.
Ok, stepping off my soapbox, as my supervisor at CAT would say. I will post links to some of the other services I use here and in my non-existant spare time, tutorials on how to use some of the websites that may be confusing. Need help? Leave a comment.