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Hey Goal Crushers and Dream Chasers,
Last time I talked about writing and its benefits.
Today I want to cover our namesake and dig into finance.
The family and insights have been covered a bit.
But have you heard of income vehicles?
What is an Income Vehicle?
To understand an income vehicle, you must understand its predecessor, the investment or financial vehicles.
An investment vehicle is a financial account or product used to create returns.
The term can generally refer to any container investors use to grow their money.
Most often it includes stocks, bonds, and mutual funds, can carry high or low risk, and exists as part of a larger investment strategy.
So, what makes an income vehicle so special? It’s all of the above and more. Its anything that makes you income.
What makes the Rich so Rich?
Rich people stay rich because they understand they need to generate income vehicles.
They have more than one source of income so that they never have to worry about losing everything in one stroke.
Their income vehicles also work on autopilot. The money makes them more money while they sleep.
Warren Buffett is primarily known for his investment prowess. He invests in a wide range of companies and industries through Berkshire Hathaway, and the income generated from dividends, capital gains, and interest on these investments is a significant source of his wealth.
But, how the hell do we even get started?
This can be achieved by the average person if they use income vehicles to generate more income vehicles like a 9-5 job.
Speaking of income vehicles, let's explore a unique avenue that empowers individuals to take control of their financial future—becoming a digital creator.
By embracing the world of digital content creation, you can unlock a world of opportunities and income streams that are limited only by your imagination and dedication.
The Benefits of being a Digital Creator
You can always start with a 9-5 job but let me introduce you to someone who took a different path.
Meet Justin Welsh, a digital creator and entrepreneur who turned his passions into multiple income streams. Justin didn't just treat his 9-5 as a side hustle; he decided to make his main income vehicle his business as a digital creator.
Through his journey, Justin demonstrates how following your passions and sharing your expertise with the wider world can be a wonderful and financially rewarding experience. As a digital creator, he's tapped into various income streams:
Content Creation: Justin generates income through content creation. Whether it's blogging, podcasting, or creating engaging videos, his content resonates with a dedicated audience, attracting sponsorships and advertising revenue.
Coaching and Consulting: In addition to creating content, Justin offers coaching services. He shares his knowledge and expertise with others, turning his experience into a revenue source.
Digital Products and Courses: Justin has developed digital products and online courses. These resources not only empower his audience but also generate income through sales and subscriptions.
The best part? The work Justin puts in continues to pay off. Once you create valuable content, you can repurpose it over and over again, ensuring that your writing and videos never go to waste.
After making more savings than reasonable to hold, say $2,000 for emergencies, the rest of his earnings can be strategically allocated to various income vehicles or financial investments.
In Summary
Diversify your income sources.
Thats really all there is to it.
Secure you and your loved one’s future.
Yours in digital success,
Timothy Cortez
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