WHY YOU MUST HAVE SECOND STREAM INCOME

WHY YOU MUST HAVE SECOND STREAM INCOME:

FACING REALITY

Many people have learned over this last decade that many of the things on which we have depended for decades are not as secure as they have expected. Genuinely secure employment may be only illusion since we often see how volatile the economy has become globally. There are millions of people for whom their Job is the only source income ,and when for some reason, that income is lost, these people can find themselves in Dire straits.

with a second stream of income,you can take more risks and increase your job security situation. The second income stream can allow you to do work that you love, and that could make it seem more like a hobby than a job.

WHY YOU MUST HAVE SECOND STREAM INCOME

GETTING RID OF DEBT 

Thousand of students are Graduating today, and they enter the market place with more debt than any previous generation. statistic shows that debt, which was attributed to student loans, has reach record heights.

Apparently, the average bachelor degree can result in debt more than $30000. Some Graduates will open a new side business just to obtain a little breathing space and to help them to repay those debts. Others are trying their hands at investing in things like property or stocks. 

Increasing student debt loan debt is now resulting in many people who are asking whether a college degree is worth to their hassle.

Many are forced to learn new skills and to offer them as service to others, such as freelancing.

LONG TERM WEALTH

Increasing numbers of people find themselves in a situation where they struggle to make a short term decisions since they are so overwhelmed by financial pressure that a long term decision are not even considered at present. However, it must never be forgotten that any efforts which are invested into a second stream income could eventually grow into a profitable long term return on investment.

you may eventually find yourself in a place where you share your knowledge using blogs, videos and podcasts. There is large number of second stream income jobs, which may can be done from home, which can provide people with sustainable income possibilities.

THE DECLINING VALUE OF SOCIAL SECURITY

For many people the promise of social security, which becomes available at a certain age, has always been considered to be a viable solution as far as the future living expenses are concerned.

The problem is that even social security is now expected to fall away with in the next decade or two. However, here are many people who have an expectation that social security will someday be available to help them survive financially. This is exactly why it is important to investigate second stream income possibilities and to find one which will be suitable for your individuals needs.

INNOVATION IS REWARDED

Governments fully understand the gravity of the situation, and this is why the new tax cuts and jobs of act 2017 is now rewarding people who receive an additional income because of self employment endeavors. This is those people who engaged in online and home based jobs.

Furthermore, any business income which is paid to an individual as a sole proprietorship can benefits from a 20% reduction in tax. People are encouraged to investigate the matter for themselves because various benefits can obtained based on the second income, which is chosen by individuals.

BECOME SELF-MOTIVATED 

when creating additional income streams such as engaging in some online activity, such actions will require a lot of determination and dedication. People must known what they're getting into, and in one way to motivate themselves and to ensure that persist with their endeavors until success is obtained. Doing so may be more comfortable for individuals who are still young. This is because later in life there may be a family and children which will place additional demands on your time.


"An individual requires a substantial amount of energy to not only start a new business but also to persist in that endeavor until the business become profitable and sustainable."