How many vehicles do you have?

Posted by Norm on December 18, 2007 5:51 AM

When I said how many vehicles, I don't mean cars well if you are wondering I drive a Subaru RX, I mean how many different types of money makers. I have about 7 main vehicles

  1. My Job
  2. Property Investment
  3. Shares
  4. Savings
  5. Superannuation - Retirement Fund (Government force upon)
  6. Money Making Experiments
  7. Knowledge
However four out of seven make me money passively. So why do I have so many different vehicles? Well the main reason is if I lost my job tomorrow or the share market died I still have others working for me.

However please note, I am diversify but my money is not spread evenly across each vehicle. It depends on what you fancy more. I have favour some over others because mainly due to point seven. My knowledge is stronger in some than others.

I have knowledge at Seven because without knowledge you cannot do anything. So continue to increase your knowledge cause it will be the most valuable thing you ever invested into. Only through knowledge can you become wiser in how the Financial World works. Everyone have a story, learn from their mistakes, so you don't have to go through it.

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1 comments

  1. Brian // January 23, 2008 at 6:07 PM  

    Excellent post. I follow this same mentality. You want to exploit each "vehicle", and buy new ones if possible! Earned income is the hardest form of money to get (you work your ass off!) yet most people entirely focus on that. Building a steady side business using all available resources ensures your fiscal health.

    Good luck at your new job :)

    TheWalrus
    www.thewalrus.biz