What are multiple streams of income? It seems means that your income doesn’t come from a single source. The porblem with having your income coming froma single source is that if something happens to that source, you will be left without any income. You should have a goal to set up multiple sources of income. For instance, my primary source of income comes from job as a computer programmer. But I also have income coming from my websites. And even there I have multiple sources. I have money coming in from 8 different websites, and just registered yet another website. And the money from the websites comes from different sources. Amazon’s Associate program has been my biggest money maker for years, but now Google Adsense taken over the top spot for making money. The websites ebb and flow where one may be making the most money, but six months later another website might be doing better. As the affiliate programs change their payment schedules, and the search engines play games with thier algorithms, I have multiple chances to be in favor.
I have sold books on eBay, and Amazon. I have sold shareware programs. I am always looking for new opportunities!
I also have investments in stocks and mutual funds. I don’t generate cash flow from the investments, but they are slowly growing generating more wealth. Any dividends are automatically reinvested.
You want some of your sources to be passive of residual income. If you have multiple jobs, you will be killing yourself over time. Try to set up some self-sustaining sources of income. For instance website that you can build, and will continue to earn money for years as is. Then you can move on to another project. Be sure to monitor the previous projects to make sure they are still going.
Hopefully at sometime you can be stting on a beach somewhere while the money continues to flow in from your multiple streams of income!