ALT-1 Making a Passion out of your Profession
OPEN THE FLOODGATES
We can all learn something from the Magpie; the Magpie which is related to the Crow and the Jay bird is an intelligent and adaptable bird. These ingenious creatures have diverse feeding habits. They probe the soil for earthworms, catch insects on their wings, and also, which is not recommended the Magpie will rob other birds nest for their eggs and feed on road-kill animals. These creatures have the ability to diversify their resources and they seek out opportunities. On the other hand, Human beings appear to be satisfied in placing all their eggs in one basket.
People who have only one source for their livelihood limit their potential and are placed in a very vulnerable position because if that source ends then they are immediately in trouble. The answer is to have several different streams of income coming into the household. The job of course is the mainstay the steady source of income. If the individual has a hobby then that hobby can produce a second stream of income. Savings accounts that throw off interest or what is known as unearned income can be a stream. Also 401K's or other types of savings accounts can produce interest which can be invested and that opens the door for numerous avenues of income.
One argument against the ideals presented may be the "I'm just the average Joe or Jill" syndrome, which has the person believing that talk of investing and entrepreneurial ventures is not for him or her. This is either due to lack of knowledge or limited resources. If little interest is due to lack of knowledge then hopefully the ideas presented here today will open the door for a desire to explore more on this topic. If it is a reality of limited resources, this should not be a stumbling block either.
A story which ran in the newspaper a while ago, told of a Philadelphia man in his 70's who when he got his first paycheck in the early 40's began investing off change. After he paid all of his bills and bought groceries he had a $1.89 left over and he wanted to invest. The only thing he could invest in were beads and ribbons from the 5&dime store which is the predecessor to today's $1.00 store. The man began making hats and continued to reinvest in buying more beads and ribbons from the profits. This produced a steady stream in his life. No, he did not become rich and famous or quit his day job. But he had another financial resource that added to his life and fifty years later he taught hat-making at the local community college.
The key to increase financial flow in life does not have to come with investing thousands of dollars at the beginning or re-inventing the wheel. The key is being creative and like the Magpie resourceful. Begin small and over time a small amount of money or time worked at industriously can turn a small creek bed into a steady stream of financial potential.
