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One of the common denominators among the self-made millionaires in my Rich Habits Study was the creation of multiple streams of income. Eighty-four percent of the self-made millionaires in my Study had at least three streams of income.
In almost every case, each stream of income created by the self-made millionaires, required massive single-minded, focused effort. And that effort took about five years before an income stream began to generate significant income.
Once the income stream became consistent, the self-made millionaires in my Study then moved on to creating another income stream. Oftentimes, the new streams of income created were offshoots of one of the other streams of income – meaning, there was some synergy amongst the streams of income.
What made each income stream possible was Massive Focused Effort for many years.
Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, Effort-Less Wealth, Change Your Habits Change Your Life, Rich Habits Poor Habits and “Rich Habits: The Daily Success Habits of Wealthy Individuals.”