Finance.

It’s not taught in most schools. It’s not learned in most homes. It seems as if it’s the secret formula that only the rich and wealthy get access to.  Many people still wonder why in school they had to learn the quadratic formula, order of operations, and the area of a parallelogram yet haven’t used any of them since becoming an adult. I don't get it, even though I have a degree in Mathematics. Wouldn’t we have rather learned how to invest in the stock market, how to buy and leverage real estate property and the benefits of entrepreneurship, which are the three pillars of wealth building in the United States? I will speak for us all and say yes!  It’s a good thing that we are never too old to learn new habits. 

Once I completed my MBA, I started analyzing my struggling finances, insurmountable student loan debt and non-existent investments. Something had to change and change soon. I reached out to mentors, started reading even more books on the subject matter and then jumped into the deep end of the pool. Though I’m mentioning ‘Seven Streams of Income’, please be motivated to have many more. Seven is just the minimum requirement. Here are seven of my streams to give you an idea: 1) Acting 2) Teaching College 3) Stock Investments 4) Keynote Speaking 5) Business Consulting 6) Writing a Book (Being released in 2018) 7) Workshop/Webinar Presenter. 

Now, how do you decide upon, create and sustain your seven streams?  First, understand that your seven streams are unique to you, your profession, your talent, your hobbies, your likes, etc. There aren’t any streams that you must have in order to be doing it right.

  • Understand that your profession, your main job or skill, is your first stream.
  • Build the other streams around your core business and profession.
  • See which or all pillars of wealth building you closely identify with.
  • Know that savings has never created wealth, investments do.
  • Do not over think or second-guess your options. Your investments will work if you work.
  • Ask a mentor or your tribe for examples of their steams to help you develop your own.
  • Stay consistent, continue to learn and know that if there is no risk there is no reward

Examples of Seven Streams Depending on Your Profession

1. Actor

1. Mathematician

1. Entrepreneur

2.  Start Writing Screen Plays

2.  Tutor Privately

2.  Develop Additional Services or Products

3. Make Appearances

3. Become an Adjunct Professor

3. Teach Workshops on Business Development

4. Monetize Your Social Media Accounts

4. Do Speaking Engagements on STEM Careers

4. Become a Contributor to Business Magazines

5. Start Directing

5. Develop an App

5. Invest in the Stock Market

6. Accept Speaking Engagements

6. Start Your Own Tutoring Company

6. Invest in Real Estate

7. Teach an Acting or Audition Technique Class

7. Write a Book

7. Become a Consultant

As the wheels in your head are now starting to turn, I would recommend looking into some of the new stock apps that are available.  I currently have four investment accounts all from different stock apps. Think about publishing your first manuscript. It doesn’t have to be the length of a Harry Potter novel but be sure to engage, educate, entertain and/or inform your audience on a topic in which you are knowledgeable.  This book will forever be available and create residual income for you.

For more information, I can be contacted on any social media platform at: @JustinKey101.