A Simple 5-year Plan to Developing True Income Security!

Once you receive your paycheck, you and your employer are even.  You don’t owe them anything more and, more importantly, you need to understand that they don’t owe you anything either.

You need to develop more than one income stream outside of your job if you are to truly have a secure income.

Here’s my suggested 5-year strategy:

1. Start a blog and monetize it.
2. Take the income from the blog and build a website and monetize it.
3. Take the income from the website and put into a product or service brokerage business.
4. Put the income from the service brokerage business into the currency markets.

You can begin this strategy in your part time.  And you can do it for little or no money - other than the cost of education.

Launching a blog is free.  Learning how to monetize it will cost you a few dollars but even that is free if you don’t mind the trial and error method of learning. 

To start earning income from the blog even faster, consult one of the many online advisors.  I’ve found that the best ones will provide you a lot of information for FREE. 

(Rosiland Gardner and Anik Singal have just launched their Blog Classroom.  You should look into this as a first step.)

The overall strategy depends on your mastering each monetization technique before proceeding to the next. 

Devote a year to the blog project.  Once you’ve been blogging for awhile and are making money with it, you are ready to start on phase 2.

Once your blog is spinning off income and, as long as it requires very little maintenance on your part, you can start educating yourself on building and monetizing the website.

Like blogging, building a website is easy.  Producing a website that will make you money is another thing, altogether.  It will require that you learn all that you can about internet marketing and sales.  This is a rapidly changing field and, therefore, will require a lot of time in the beginning.  But you’re going to find that the learning can be fun and easy.

Codrut Turcanu can help you with this. 

By the end of the second year, you now have a blog and a website that are spinning off two sources of income.  At that point, you are ready to move on to phase 3.

Phase 3 involves joining a product brokerage or network marketing company and leveraging the tools that they offer.

Which company is up to you, but be aware that not all companies that offer a home-based business are the same.  For example, I would not recommend joining a company that compensates on a multi-level marketing (mlm) plan.  Multi-level companies are very difficult to get started.  And most of them are not very financially stable. 

However, there are several product brokerage companies that require very little work to get going but can produce massive incomes after several years.  And, after completing phase 1 and 2, you have already developed the internet sales and marketing skills to become profitable very quickly.

After your third year, then, you’ll have 4 sources of income – your job, your blog, your website and your network marketing business.

Phase 4 is going to put you in the world of the rich.

Forex trading is the best way to begin investing for a lot of reasons.  But the main ones are that a) you can start trading for little money, b) you only need to understand a handful of investment choices versus stocks which involve tens of thousands of choices, and c) you can do this 24 hours a day, 6 days per week. 

However, you will need to become very educated on global economic trends and what they mean. 

Don’t let this scare you, though.  There are several terrific free forex trading education sources that will get you up and trading, quickly, and I’m sure that, by the time you get to Phase 4 there will be more.

Don’t make the mistake of trying to do all of these at once.  Focus is the key, here.  Become a master of one thing and move on from there.

Another mistake you don’t want to make is not reinvesting your profits from your businesses.  All profit should go into education or tools for the next business. 

The last mistake is quitting your full time job too soon.  Give this 5 years.  Until you are making at least 3x your current wages in “residual income,” keep sucking up to the boss!