A while back, I wrote about income portfolios.
This is when we diversify our income streams to reduce risk.
Just like an investment portfolio.
I’ve recently read a book that covers this topic.
The book, The Search by Bruce Feiler, talks about five jobs that almost all of us have.
The Main job. The Side job. The Hope job. The Care job. The Ghost job.
We are paid for the first two or three and not the last two.
My Perspective
This book and the idea of an income portfolio is a relatively new concept to me.
I went through many years of my career with the main job.
I didn’t think about care jobs or ghost jobs.
I was fortunate not to need a side job or 2nd job to pay the bills.
And never considered a side job or hope job.
Yet, I wish I could have coached my younger self to consider these things.
Over the years, jobs can come and go – your choice or not.
When they go, many have no income to fall back on.
Risk is high.
I now believe everyone should be investing in an income portfolio.
Income streams coming in on a regular basis from multiple sources.
You might have two part time jobs that add up to your “main job”.
A side job that you pick up when you feel like making extra money.
Or a hope job that currently makes just $100/month, that pays for gas or some groceries!
Your Turn
Do you have an income portfolio?
How many income streams do you have in the portfolio?
Is there a hope job you are working to build?