Why Creating Additional Income Streams is No Longer Optional Story

Why Creating Additional Income Streams is No Longer Optional

How many income streams do you have? I’ve got six — the five passive streams mentioned here and the active income stream that is this blog — and I’ve got 3 more coming to me, eventually.

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When I was a young attending physician, I didn’t think much about non-clinical income streams. I had a secure job, or so I thought, as the only anesthesiologist practicing in the county.

It’s becoming more and more common to see people, regardless of their careers, lifestyles, or situations, working towards creating streams of income outside of their day job. I’m here to tell you why it’s no longer a fun hobby. Now, it’s a necessity.

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More Income Streams = More Security

Pre-Y2K, an M.D. pretty much guaranteed prosperity. You’d pretty much always be able to find a job and that job would pay well enough that you didn’t have to worry about much, financially speaking. Read More

Industry Disruption is Commonplace, and Medicine isn’t Immune

Industry disruption has been happening in medicine right along with every other industry out there, and it will continue to happen. The rise of telemedicine in the pandemic serves as one example of this. Read More

Multiple streams of income help insulate you from the negative consequences of changes, whether they’re changes that you can control and are seeking out or changes that have been forced upon you.

I’m able to work less and spend more time with my family, and passive income from real estate has afforded me that opportunity.

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