The Rules of Wealth, 3rd Edition

RULE 64

Create new income streams

When it comes to wealth-creation strategies, investing wisely and managing your money actively are important, but nothing beats having more coming in in the first place. Everybody benefits from some thought about where their income comes from and how they could create another source of revenue.

It’s a bit like being a busker and having several pitches. If one is proving unprofitable, you can pack it in and go somewhere else. But instead of packing it in what you are going to do is duplicate yourself – a cloned you if you like – and not only carry on busking but also be busking in a new place at the same time. The more hats you have out, the more they are likely to return a profit.

Look, don’t take my word for ...