Create wealth like the rich with multiple sources of income



[ad_1]

A revenue stream can be a financial investment. Ashton Kutcher invested some of his Hollywood money in Skype in 2009, worth an estimated $ 2.75 billion. Microsoft bought Skype for more than $ 8 billion, which made Kutcher extremely rich.

It can be a real estate property generating income. Arnold Schwarzenegger draws the bulk of his current income from the real estate investments he's made before becoming a movie star, according to "Tools of Titans".

It may be one or more other activities, a strategy preferred by Sir Richard Branson, as he notes in his autobiography "Finding My Virginity" and by Elon Musk.

In my Rich Habits study, three sources of revenue seem to be the magic number for self-taught millionaires, but the more you create sources of income, the safer your financial home and the more wealth you will create.

Tom Corley is an accountant, financial planner and author of "Rich Kids: How to bring up our children so that they are happy and successful in life. "

Do you like this story? Subscribe to CNBC Make It on YouTube!

Do not miss:

The 1% will always control wealth – and here's how they do it

[ad_2]
Source link