Diversifying your income is the key to survive in uncertain times

I’m writing this up in the clouds having recently been in Singapore. Singapore is one of the most expensive places in the world.

I have been totally disconnected with what the media is saying in the USA and my social media consumption has been at an all time low.

While in Singapore I took a look finally at the news and watched some of my business content creators and it was all about how the economy is on the brink and how a recession is imminent or a major economic crash not to mention world war 3.

Scary stuff. Is it true? I have no idea. Honestly ever since the pandemic I feel like I’ve seen a recession or economic crash article or social media post every week. I think living in fear is a bad thing.

But I do think it’s good to always be prepared for the worst case scenario.

There is a fundamental belief that I have when it comes to preparing for an economic crisis.

The people who live underneath their means are the people who not just survive economic crashes but thrive.

2008 was a historical time where many people lost their homes and entire net worths but the reality is that wasn’t everyone.

The often not told stories of 2008 are people like my parents. They didn’t lose a dime in 2008 and actually had an incredible financial year.

The reason why is that they lived way below their means. They lived in a modest house and lived off 20% or less of every dollar they made total cost of living.

They didn’t have multiple mortgages or fancy cars. They were straight up frugal, living humbly, working hard and saving way more than they spend.

I don’t know if a crash is coming. All I know is that it’s always a good idea to try to live humbly beneath your means. If right now you are struggling to keep up with your mortgage and cost of living you have 2 options.

Cut your expenses like your life depends on it. When living in a van for a year I was able to get my monthly cost of living to under $600 a month.

Make more money but DON’T increase your cost of living. This is where learning how to make money comes in. The real challenge is while you make more money from what I can teach you what do you do with it? Do you splurge? Or do you save?

?

- Adrian

90 Day Scholarship Update:

Speaking of people who making extra money online:

Apply Here

Diversifying your income is the key to survive in uncertain times

I believe that having one income is really risky yet we’re brainwashed into thinking that getting a 9-5 job is the most secure thing you can do for your family.

It doesn’t make sense. “Don’t put all your eggs in one basket” is timeless, we all know it, and believe it’s good advice… yet when it comes to creating an income the majority of people put all there income in one employer.

Even in my online business teachings I try to encourage everyone from day 1 to learn different business models that are not related to each other.

In my scholarship I teach UGC, Gigs and e-lancing.

It’s natural for beginners to gravitate towards one of these business models instead of all of them but this stems from a lack of importance in diversification.

Sometimes I wish people would add the perspectives that immigrants have. Immigrants like my father were not picky when it came to incomes. Mexicans are traditionally known as hard workers.

When you have an immigrant survivalist mindset you don’t care what you are doing you care about your objective - surviving or in this case income.

The most important question asked in this mindset is: “what can I do to make money to protect my family”

Clean houses - done

Wash dishes - no problem

Detail cars - fine

Stock groceries - simple

The immigrant mindset doesn’t have an opinion if they like the work or not because they are driven by survival.

I wish people who took my programs could think through this lens because it would result in a lot more successful students who diversify their incomes and are able to build legacy wealth.

I have thousands of people who have learned how to make money using one source of income that I’ve taught them.

I have hundreds of students who have learned a couple.

I have dozens of people who have diversified in all the ways I’ve taught them to make money. These special rare people who operate from an ‘immigrant’ mindset are the ones that are changing their family tree. They didn’t complain about not liking a specific strategy.

Sometimes you need a kick in the ass to think this way, sometimes you need hardship and sometimes you need inspiration. You don’t need to be an immigrant to adopt this mindset.?

I’m not an immigrant. I was born in the USA but I operate with this mindset.

Once you are making your income goals whether that's $10K or $100K a month then you get out of survival mode and think about ways you ‘like to make money’. Until then - do the work and watch it change your life.?

Sign Up For a Free Bramify Trial

Get My Free Trial

Random Notes

• Start Thinking Rich just picked out its chapter cover. I can’t show it yet but it’s black and serious! I’m so impressed I can’t wait for you to read this book on money. It is going to change so many lives! Click here to get on the waitlist.
• Singapore was such a vibrant, luxurious city. The irony of it is that you can go to a Michelin star restaurant and spend $400 on dinner or you can go to a Michel star street vendor at one of the many Hawker stalls and spend $3 on food.
• Idk if the economy is going to crash in the USA but being in a place like Singapore makes me think that there are levels of wealth. In a taxi ride over to Burnt Ends (a restaurant we saw on Somebody Feed Phil), I saw the biggest house with 5 Ferraris parked outside. I’m going to assume this person is not over leveraged and actually legit wealthy. It makes me think how the difference between being in the 1% is vs the 0.1% of the world. No economic crash is going to affect them as long as they aren’t over leveraged.
• I don’t have the goal to be a billionaire. I just want to provide for my family and have financial freedom to do what I want to do whenever I want to do it. I don’t want to have to worry about money or financial crashes. I know that making money online is the best way to add income and the best way to build wealth is to live under my means.