The world is always evolving and we've reached another turning point in human history. It's time for us to recognize that the days of providing loyalty and work to just one company are simply over. It's no longer enough to work a simple nine to five job while getting paid a full time salary. Today, people need to vary their income based activities.
Full Time Salaries.
The idea that a full time salary today can buy as much as a full time salary fifteen years ago is flat out wrong. A dollar today doesn't buy as much as a dollar did then. The richest people in America have gotten even richer, while the working class wages have stayed the same, limiting the buying power of the working class.
The logical answer to this debate? Diversify your income stream.
How a Diversified Income Stream Helps.
I haven't yet entered the full time work force, but the jobs that in which I am currently employed reflect my strong belief in a diverse income stream. First, I work for Blasting News as a writer. In my opinion, Blasting News gives an excellent chance to people who are looking to earn money in their free time by providing writers with a platform on which they can write about whatever they want whenever they want.
I have supplemented that writing experience by also completing a handful of writing projects for another company that posts projects from clients. These projects have set objectives and deadlines, but are optional to accept, and therefore beneficial to those who only accept the jobs when they know they have time for them.
Third, I have a Part Time job with a startup called Triblio. I'm doing my best to provide the company with the best work possible for the 20 hours a week that I work there, but it does feel like I am doing less than the rest of the employees. Despite that feeling, the part time work provides me with another source of income as a college student.
And the last thing that I want to talk about is investment. If you are a young person and you have invested no money in the stock market yet, you're doing this wrong. A passive investment in an index fund in the stock market is bound to pay off in the very long run and will net some nice returns for your money. Be careful though.
Active trading is a recipe for disaster and should be evaded at all costs.
Financial Independence.
The end goal of all of this should be financial independence. A reliance on one company or source of income can result in catastrophic consequences if that source disappears. Don't always expect to keep your job or position, even when you are performing at a high level. Companies can collapse. You are an individual. Don't let the collapse of one company mean the end of your revenue stream. When you diversify your income sources, you will be more comfortable and have more money than you would just working one job.
