Diversifying — investing in a variety of places to minimize your risk — is a popular buzzword in the financial world. But have you ever considered applying that concept to your career? With jobs and retirement funds feeling pretty unstable these days, some financial advisors are suggesting diversifying your sources of income — i.e., having more than one job. To find out what the advantages might be, read more.
According to some financial experts and bloggers, pursuing side jobs can help you increase your income, be more financially stable, and even retire early. The idea is that having different types of cash flow will serve as security if you’re laid off or take a pay cut in one position, and will give you more flexibility to save for the future. I can see other pros, too — side jobs and freelancing can provide different outlets for your talents, and can be really fulfilling. On the other hand, juggling several jobs at once can get stressful fast if you aren’t careful.
Have you tried this approach?
Source: Flickr User Daniela Vladimirova