Grow Your Wealth With These 5 Legit Streams Of Income
Welcome back to Newslineng. Let’s walk you down on some Legit Wealth growing secrets You Need To Know to become a millionaire.
It’s been confirmed that nobody becomes a millionaire while having only one source of income, or while doing a 9-5 job.
Millionaires were once ordinary people but what actually made them what they are now is their high level of discipline and focus. One fascinating thing I’ve come to realise about millionaires is that they have multiple sources of incoming that keeps their Wealth growing tremendously.
In 2018, a CBNC article gave some intriguing highlights on some billionaires. It stated that
65% of millionaires have three streams of income
45% of millionaires have four sources of income
29% of millionaires have five or more income streams
Whereas an ordinary man will always hope to be a millionaire while having just one source of income which is his 9-5 job. I’m sorry to disappoint you but the truth is that no man has ever become a millionaire through a 9-5 job.
When you have multiple streams of income, you are sure to generate more Wealth and when those streams of income are powerful, it generates a passive Wealth. So, if you are ready to grow your Wealth massively, below are 5 Legit Streams Of Income to engage in.
1. Renting Out Your Car
This is a new and hot way to make extra income, most persons has cars which are parked during the weekdays and used only on weekends which I see only as a waste of resources. Why not start up a car rental business? You can simply lend your cars to people who are eager to use it for taxi business such as Bolt, Uber etc, by this means, you can generate a massive stream of income.
I know of a friend who has 2 cars and doesn’t use them during weekdays, what he did was he rents one to his friends who needs it for daily use while he registered the other in a transport company and he makes enough money from both source. Don’t just park your cars and let them rust away without generating cash for you.
2. Business income
It’s not a secret anymore that many company staffs has other side businesses to compliment their jobs. Many wealthy company staffs grew their Wealth through side gigs and not only their monthly salaries.
Having your own side business while you work for another, opens up a great stream of income, it can be anything either youmake or sell something, or you provide services.
If you happens to be someone who enjoys writing, you can start up a blog of your own or apply to be a freelancer, you do this during your free periods at work, it’s sure to make you money, or you can save a bit from your salary and open up a business with it, be it a boutique, provision store or whatever and get someone you trust to help run it for you.
3. Investment Income
Another guaranteed way of making passive income is by investment. I won’t guarantee you that most of your investments would pay you massively, but when you invest wisely and in the right stuffs, you are sure to make reasonable amount of income.
If you happen to earn a large salary, you can engage in peer to peer lending and receive interests when your borrowers payback. Or you buy stocks in reputable companies which pays good dividends
The stock market is a pretty nice and safe place to squeeze in your cash while you watch it generate daily, weekly or monthly income for you .
The forex and crypto market is another Legit way to invest and get massive rewards, but these two requires much attention from you because isn’t stable and once you miss a rise, it can drop as fast as you can’t even imagine, so I advise you do these ones during your work off days.
4. Real Estate Syndication
This is one of the most powerful Wealth generation business. A Syndication is a group of investors that engage in buying properties whether commercial or multi-family. These sort of investments mostly run for 4-5yrs and can guarantee as high as 85-100 percent returns.
If you make a research on top passive income businesses you would confirm that real estate Syndication is at the top of it. While other investments tend to lose money, real estate Syndication is sure to only make huge profits.
Believe me when I say this investment is very huge, you would get to understand better when you run a thorough research on this, ask questions and you will be shocked to discover the massive returns this investment can generate.
5. Royalties And Licensing
This is the last on our list of 5 Legit Streams to grow your Wealth, its less common in our today world but very essential. This involves creating a product or idea then, you get them licensed and receive commissions whenever your products are used.
Example of this is when a musician gets his songs into a streaming platform and gets paid whenever someone streams there songs. I believe you’ve heard when artists boasts of their streams on either audiomack or other streaming platforms, that’s Wealth.
Another example of this is creating a YouTube channel, upload engaging videos or it can even be funny videos and you get paid by the number of views you get, it doesn’t necessary need the videos to be yours.
This creates passive Wealth, you won’t stop earning for the fact you continue getting views from the contents you upload.
For you to be like that wealthy man you admire, you have to create multiple streams of income for yourself. Don’t just get stuck in that 9-5 job of yours, and what happens if you lose it ?
Have a rethink today and chose from the 5 wonderful streams of incomes stated above, all has been tested and confirmed to produce massive returns. Don’t sleep on this opportunity, and don’t wait for anyone.