Hi All!

Today let's talk about income!

When we started this blog we talked about how Moola Masters wanted to help people become financially literate and we talked about the 5 pillars of financial literacy. The last couple of months we have been concentrating on retirement accounts and investments - the savings/investing pillar. 

We also talked about the financial journey: Financially Healthy, Financially, Stable, Financially Secure and  Financially Free. We have been concentrating on the Financially Secure while we were talking about retirement accounts and investing.

Now for Income!

I think most of this think of this as a paycheck from work.  Obviously, if this is all you have for income,  that can put you in a precarious position in a challenging economy or if your company is not doing well.

Typically 5-7 sources of income are recommended to make sure your financial position isn't that precarious!

Let's just start with a 3 legged stool today though and think about 3 sources of income. 

The first one is your job.

The second one is your retirement accounts.

How about a third? 

We live in a time with amazing learning opportunities!

Do you want to learn how to invest in real estate? Maybe look at active vs passive real estate investments? There is a ton of information on the internet to get you started. 

Do you have a skill you would love to share? Do you wonder how you can monetize it? You could probably find information on the web!

I know, I know. That sounds like a lot of work. 

Not to be a Debbie Downer but would 20-30 minutes a couple of times a week be worth it if you lost your job but still had some money coming in? 

So do some brain storming and see what would work best for you!

See you later!