3 Streams of Income Everyone Needs

Adam Del Duca
8 min readApr 20, 2021
Credit: Freepik — Freepik.com

When it comes to money, more is often better and this also applies to your income streams. Having multiple income streams is the only guaranteed way of achieving financial progression. Now, a common question is, “which streams do I need or which are most lucrative?”. Well, keep reading and you will find out!

Stream #1: Employment income

At one point or another in our lives, we’ve been told the following, “you need to go to school, get good grades so you can get a good job” and while more and more people are veering away from this traditional life path, it still doesn’t take away the relevance of getting a good education and subsequently a good job.

Firstly, employment income is a kind of income that we get from our day-to-day job, popularly called a “salary” or if you’re from the UK “wages”. This income could be paid daily, weekly, monthly, or even yearly depending on your employer, whichever it is, it doesn’t take away the importance it plays in your quest to be financially successful.

Now, as you should, you’re probably wondering why this source of income is important and I’ll tell you why. Employment income is very important as it gives you a sense of stability; it is fixed and paid regularly (typically every two weeks). It is also the most predictable income amongst the 3 incomes I am…