Whether the goal is to achieve greater economic security and stability, or to increase purchasing power, many entrepreneurs, and people in general, are looking for ways to have multiple sources of income.

The boom of remote and freelance work, as well as the possibilities afforded by the internet when it comes to starting a business, has opened a host of new opportunities to generate money — from the comfort of your own home and with a simple internet connection. All you need is some time, ideas and a whole lot of dedication, as is the case for anything at which you want to succeed.

Those who have multiple sources of income generally enjoy a lot of benefits, and as a business owner, I’d like to share the most notable ones below:

• Achieving financial independence
• Greater stability and safety
• Scaling faster
• Working from the comfort of your own home
• Living your dream life

Keep in mind that if you want to achieve financial freedom and travel the world while reaping the returns from your multiple sources of income each month, you must also be willing to pay the price of success as you work toward that goal. That is the part many people don’t see from the outside: little sleep, hard work and sacrifices.

Now, you just have to decide what you want for your life and your future.

Reprinted from an article in Forbes Online entitled, "Five Benefits Of Having Multiple Sources Of Income As An Entrepreneur" written by Kevin Leyes.

Studying millionaires is quite fascinating, because more often than not, they are regular, ordinary people with remarkable discipline and focus. Very wealthy individuals get that way by working differently (not necessarily harder or smarter) than the rest of the world. One fascinating insight into millionaires is that they typically have multiple streams of income.

• 65% of millionaires have three streams of income
• 45% of millionaires have four sources of income
• 29% of millionaires have five or more income streams

Most people have at least one income source: their employment. They go to work on weekdays, and after enough days of work, they receive a paycheck. However, well over half of millionaires have three total income streams. For some, that is work plus at least two others. For others, that might not even include labor at all.

Having multiple income streams is a powerful wealth-building tool, because the right streams can increase your wealth passively. If you're looking to grow your wealth like the well-off do, below are eight streams of income that will boost your bottom line.