Generating 7 Streams of Income

If you think today was tough, you ain’t seen nothing yet!!

This is just a start of the collapse of the US financial system. Once the Fed finally drew a line in the sand and turned down Lehman Bros and AIG, the game is over. Thousands of people lost their jobs today yet the bigwigs in charge of these companies are multi millionaires who profitted handsomely from the previous greed that has riddled the industry.

You need to take stock, take a deep breath and move into survival mode. You are no doubt losing money on your stock portfolio, 401K/IRA, your house is losing value, your savings are under threat and paying you a fifth the rate of inflation, gas is $4 per gallon and everything is getting more and more expensive…..What can you do???

You need to Generate 7 Streams of Income!!!

Let me know what ideas you have for Generating 7 Streams of Income. My wife and I have the following Streams of Income….My job, her job, my part time job, her part time business, our online businesses (2). We are looking to develop one more Stream of Income and then we have achieved our goal.

How many Streams fo Income do you have and can you share with us your successes……

Looks like the Federal Govt. will rescue Fannie Mae and Freddy Mac over the weekend. The economic news get worse and worse. Many prominent analysts say the worst is yet to come…..

So what do you need to do in readiness for a meltdown in the economy?

I recommend the following….

1. Create an Emergency Fund of 2-3 times your monthly take home pay. Do whatever it takes to achieve this. Have a garage sale, list things on eBay and/or Craigslist. Really go through all the stuff you have acquired and sell immediately what you don’t need. We did this with 2 garage sales and a bunch of stuff on Craigslist, not only did it bring in a few thousand dollars, it also had a cleansing feeling to it as well.

2. Take a look at your stock portfolio and assess the risks. You are probably negative on most of your stocks. You need to decide to either cut your losses or ride out the storm, only you can decide on this.

3. Take a look at your 401K and/or IRA accounts and again look at where the money is being invested. Consider moving your money into money markets for safety.

4. Pay down debt, pay the minimum premiums on all of your credit cards, then concentrate on paying as much as you can on the one with the lowest balance. Once that is paid off, cut it up and move on to the next one. Once you have paid a couple of them off you will feel great!

5. Avoid going shopping…stay away from Costco, Sams Club, the mall…you will save hundreds of dollars. When you go grocery shopping, have a full stomach and a list of what you need in your hand. You will spend much less that way.

6. Take a look at gold and silver as investments. Unique situation right now, physical demand around the world is at record highs yet the prices of both metals have been falling. This is presenting investors with an incredible opportunity. I bought silver again this week, Franklin Half Dollars. I own the physical, not paper.

OK, so, what plans have you made to prepare for this economic situation? What is working for you? How are you Generating Streams Of Income? Share your ideas so that we can all benefit. Thanks.

We have taken a look at many Affiliate Marketing Programs and we are trying to narrow down the field to a handful that will work for us. If you have any ideas or tips for us, that would be great.

How do you go about selecting an Affiliate Program? What factors do you consider? What experince have you had in terms of results, support, payments etc?

If you had to recommend one Affiliate Program that stands out from the rest which one would it be?

Where do you look for Affiliate Programs?

I am sure these are the kind of questions posed by our readers, so if you have answers, please share them with us. Thanks!

We are taking serious look at Generating Streams of Income from Affiliate Marketing. However, there seems so many options and it seems like everyone is getting on the bandwagon and offering their programs.

Do you have any experience and/or ideas to share with us? What has been working for you? Anything we should be aware of?

We’ve been taking a look at opportunities via Clickbank, we are working with Michael Cheney, We are searching for Affiliate Programs that we are comfortable with such as Amazon.

If you have an Affiliate Program that may be of interest to us, feel free to let us know about it, thanks!

Today there has been a warning that if the govt bails out Fannie Mae and Freddie Mac, that 8000 banks may suffer as a result. It is a frightening situation.

Many analysts believe we are not even half way through this financial crisis. What are your plans to protect yourself from this looming financial disaster?

Take a look at your finances again this weekend, take stock, assess your exposure to risk and make some decisions. Plan ahead as if a tornado is on its way, make sure you have monetary reserves, make sure that you assess your bank and make sure you take a good look at your paper assets. You have been warned!

Do you worry about the state of the US economy?

Have you any idea how bad things are?

A former Chairman of the IMF stated this week that he expects a major US bank to fail in the next few months. This guy is a professor at Harvard University.

I get the distinct impression that most people have no idea what is going on. Yet, the real estate market is in the toilet, the stock market has negative returns right across the board, CDs are paying 2% if you are lucky and inflation is running rampant…How is it that there isn’t mass panic by the general public?

So, where do you invest or keep your money right now?

This is a major problem and according to many analysts, one that is going to get much worse before it gets better. I would like to know what your thoughts are and hear any suggestions as to what to do with money right now. It is unbelievable the situation we are facing, but what is more unbelievable is that most people haven’t got a clue…

Let me know your thoughts and suggestions.

I read this book a couple of months ago and it really started to make me think differently.

The book talks about “the New Rich” describing people who are “Rich” in the new currency of Time and Mobility. Basically the gist of the book is to show the reader how to generate income from multiple sources, yet providing you with the opportunity to generate these streams of income no matter where in the world you are. The book describes how you can generate income while traveling the world.

The book also describes many methods for reducing the amount of time you need to spend on generating your desired income, hence the title “The 4-Hour Work Week.”

Here are some tips I found very useful:

The goal is fun and profit….

Be neither the boss nor the employee, but the owner…

Think big but ensure payday comes everyday:cashflow first, big payday second…

By working only when you are most effective. life is both more productive and more enjoyable…

Focus on being productive instead of busy…

It is far more lucrative and fun to leverage your strengths instead of attempting to fix all the chinks in your armor…

The book is definitely worth a read and it really helps you to focus on using your time more efficiently and also helps you think “Why not travel the world now when I am young enough and fit enough…”

Anyone who had the pleasure of watching the game between Blackburn Rovers and Everton witnessed an absolute cracker of a game! The football match had everything, goals, drama, skill, passion and commitment.

I will be showing this game to my men’s team next Monday night as they report for “Hell Week.” Keep an eye on our progress at http://www.wcpoets.com/sports/msoc/index. We are looking forward to a great season and making major progress as the season develops.

So, why is gold in a freefall? The dollar is getting stronger even though we continue to print dollars to attempt to pay our bills and keep the banking system afloat. Sounds like there are some behind the scenes activities going on.

I have always been a believer in owning some physical gold, up to 20% of your overall portfolio. I just feels right to own some real money instead of having all of your wealth in paper assets. When you hold real gold in your hands, you feel “Settled.”

Right now with gold below $800 it is an absolute bargain. Silver seems even more of a steal. I own both and the market looks so oversold right now that I believe it is a good time to add more to my portfolio.

Looking at the economy in the US and the rest of the world, there is too much trouble to rely on just owning the usual stocks, bonds, mutual funds etc. I believe having gold in your safe and safety deposit box is just plain common sense. Take a look at gold and silver and you may want to consider owning some right now.

We are heading home to the USA tomorrow after two weeks in Europe. We spent a week in England and watched Ole Gunnar Solskjaer’s testimonial game when Manchester Utd played Espanyol. We then went to Norway to watch Rosenborg entertain local rivals Molde. Both games were fun to watch and again, I learned more about the game of soccer.

When we return we will be focussing on each of the categories on this blog. We are really excited about the new soccer coaching system we have come up with. We are also excited about Generating Streams of Income from affiliate marketing on the internet. Keep an eye on this blog for updates. Go ahead and post a comment if you have any tips or ideas regarding Generating Streams of Income and working independantly so that you can run your business as you travel the world.