Recession proofing your income.

We need to have a plan B! One or more alternative income streams, if one stream "dries up" a little more effort into another could make up the difference. Invest most of your daily effort into generating residual income. This is income that is self sustaining, that does not require ongoing effort once the initial work has been done. Rent, Dividends, Royalties, etc. The first thing you need to mentally modify is your “need” to have a “job”. A job is a good thing only if some of the income is used to leverage a better, residual income producing position. Most of us can make more money working for ourselves then working directly for someone else.

Education is the key! Most formal educational institutes exclude personal financial education from their curriculums. We are all more or less obliged to educate ourselves on the subject of money and wealth, especially if we do not have a financially free family member to teach us. True wealth seldom comes in the form of one large lump sum, and if it does most of us do not have the skill to retain it or make it grow. True wealth comes from multiple “small” amounts that require some effort to set up but require little or no maintenance to continue paying out in the long term.