Most people have heard about diversifying their investments. Few have heard about diversifying their income sources. This article explains that Jay Leno and many others always tried to have more than one source of income and would save a lot of their income.
Anyone can employ this strategy — it all starts with creating at least two streams of income, which is a hallmark of the richest, most successful individuals.
“Self-made millionaires do not rely on one singular source of income,” writes Thomas C. Corley in “Change Your Habits, Change Your Life,” a culmination of his research on hundreds of self-made millionaires. “They develop multiple streams. Three seemed to be the magic number in my study. … Sixty-five percent had at least three streams of income that they created prior to making their first million dollars.”