DIVERSIFY YOUR INCOME
In the late 1970's-early 1980's, the great State of Texas found herself in a quandary. We had invested heavily in the oil industry and the bottom fell out. Oil prices were going up and jobs in the oil fields were drying up. There were many who were laid off.
Texas is back on top today in the field of jobs because she diversified. She is no longer solely dependent on oil as her only source of income.
The county in Texas where I live has an increase in the monthly unemployment rate from 8.4 percent in April, 2013 to 9.2 percent in May. Statewide, the unemployment rate is unchanged at 6.9 percent. My concern is for my family, friends, and neighbors, who live in my county.
What do you do with this information? In reality, this advise is for ANYONE who depends on INCOME to live: DIVERSIFY YOUR INCOME.
How do you diversify your income? That is just another way of saying that you want several streams of income. Not everyone can go out and buy another house to receive rental income. Not everyone trusts the stock market after the 2008 crash. So what, then, do you do?
I decided to get involved in sales. What could you do with an extra $175.00/month? $1000.00? $2000.00 and more? Would you invest it? Save it? Pay down some debt? Support your family? Support your church? Buy precious metals? One hundred seventy five dollars a month for a year is $2100/annually. Would two thousand dollars help your current situation?
The bottom line is this: I recommend you start now. If you have a headache, I would recommend a Tylenol. If you depend on money to live, I recommend that you diversify NOW. The longer you wait, the more you lose.
What are your thoughts? If you want to contact me, leave a comment. They do not get published without my approval, so your information is secure and confidential. Thank you.
You are also invited to visit Oma at http://omaswisdom.blogpsot.com, http://omashealth.blogspot.com, and http://omaspolitics.blogspot.com.
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