The WAY to WOW Shows
Start Small, Stack Smart
March 25, 2026
Automatically generated from YouTube captions; names and wording may contain errors.

[0:01] Who are you? And where are you going? What do you want? Hello and welcome to People Making Money. I'm your host, Kevin Bemmel, and I'm here every Wednesday at 10 a.m. Pacific time to talk about job hunting, starting and running a business, and building wealth. So the whole financial side of our life and today's uh topic is uh is is the third in the third category

[0:39] building wealth. So for this year I'm rotating between those three topics. Um as I've mentioned in in several shows this year I found that I was too often dealing with running and building a business. it's uh it's what I do and so you know I I sort of get into that mold. Um but I want to make sure that we're covering all of these topics on a regular basis. And now this may not sound like the topic may not sound like wealth building uh but but indeed it is um because I'm going to be talking about

[1:15] something called income stacking. And income stacking may sound like, well, wait, that's that's a job. No, that's a business. No, it's it's really one of the best strategies for building wealth because it combines all aspects of our financial lives into one goal, which is to increase our income and our net worth. So you say, wait, income stacking? that has nothing to do with net worth. Well, it does because

[1:51] part of income stacking is is to build the income a aspect of assets so that those assets will grow essentially automatically. And so that builds our wealth and and you know that that is that is the end goal. And and by by the way, I I think it's been a little while since I mentioned this. Um what may be uh my wealth goal is very likely to be different than your wealth goal. So this isn't designed to

[2:27] put you on a path where you know you're solely concerned with finances. Actually, it's meant to do the opposite. It's meant to give you the information that you can use so that you don't have to be obsessed with with wealth building with generating income etc. You can make it a part of your life at whatever you think is the appropriate level right that that's the real definition of success. Uh each of us has to decide that on our own and then take the steps

[3:03] that are necessary to bring that about. So if we think about how um uh most households operated financially during the uh time this country uh was in it in it in its existence. Uh for a lot of that time there was one bread winter one bread winter one bread winner. Um and that was typically uh the husband. Uh and uh you know um women for the most part stayed

[3:39] home. They kept house um and raised children. That's that and so they may do on one job and one paycheck. Now sometimes uh you know people started businesses and if so they um they got their income from the business and um and then they got involved with other things. But for the vast majority of Americans up up through at least the 1950s they worked at a job, they got a paycheck. There was one paycheck for the

[4:14] family. And if they were, for example, if they worked for a union like the uh auto workers union, they looked forward to the day when they could retire and get their pension and then essentially live off that pension check and m maybe supplemented by social security. That is not the way things work any longer. Of course, starting in the 1970s, that system started to break down. first uh more and more women entered the workforce. Um and it became more common

[4:50] for families to have two incomes and and you started hearing about the two income families and uh you know today um the you know single bread winner model is far far less common um than than it was uh going back you know 50 years ago. And I mean I' I've I lived through that change. So now because of economic volatility, because of technology, the ability to work remotely

[5:26] and just the um mobility of our economy, many people uh have multiple income streams and some some do do so just because it happens that way. Others are much more intentional about building those multiple income streams. And the fact of the matter is they're more achievable today because there is a lot more flexibility in our work and professional lives than there was half a century ago. So

[6:03] I I want to I want to sort of reiterate something. I didn't say this directly before, but income stacking is not about working constantly. That's that is not it at all. Again, it's it's really the reverse. It's figuring out how do you make work how do you integrate work into your life into your overall life plan, I guess, is is the best way to say it. So it's income stacking is about uh layering different types of income over time as

[6:41] you work toward achieving your goals both your financial goals and your life goals your lifestyle goals. So nowadays many people build three to five streams of income across their careers, their work lives, their professional activities. And I think it's becoming more and more common as time goes by. I I I suspect although I don't I don't know I have never seen the statistics on this but I suspect that for for you know younger people say those under 35 or 30

[7:19] years old having multiple income streams is more common than it is for people like me who are you know in their mid60s and older. So a lot of us are still sort of hanging on to that that old model. So I I think I've talked about this next aspect before, but it was quite some time ago and I think it's it's good to review these concepts. So there's basically three core types of income streams. So one of them is earned

[7:54] income, right? that is the income that we get from working at a job, from running a business, uh from maybe doing some consulting or freelancing, that sort of thing. And usually that's where we start in terms of building our financial well-being and our financial future. Most of us are are not uh you know trust fund babies. We're not, you know, scions of wealthy families where we're starting out with a pot of money and building on top of that. Most of us,

[8:30] you know, we go to we went to school, grade school, junior high school, middle school, high school, we may have gone to college, and then we enter the workforce and start building our own financial future. Maybe at some time in our lives, you know, a relative dies and we end up inheriting some money, but typically that's not how we're we're starting out. And so the the earned income is really kind of the starting engine to our financial well-being. So that's that's what that's one core type.

[9:07] The second core type is investment income. So this is things like interest, for example, interest on a CD or a money market account, something like that. Dividends, which are payments, uh that that companies make to shareholders. Okay. Rental income, uh which is, you know, income you get from renting something out. We tend to think of it, uh solely as real estate, you know, real estate rental income, but there are lots of types of rental income. And in fact uh one the income that comes from

[9:45] intellectual property I think is becoming more common. It is perhaps more common today than it's ever been before. And then there are capital gains which is the increase in value that uh happens when we have an asset and it increases in value. So that that that that's a type of income called capital gains income. All of those are investment incomes because we're investing our money in some kind of maybe it's some kind of um financial investment, stocks, bonds, CDs, etc. Or it could be some

[10:23] other type of uh investment, real estate, um uh art, you know, coins, you know, there's all kinds of of things in which we can invest. businesses. We can invest in businesses that that can generate investment income. Okay, this is sometimes called passive income. Okay, that they're not they're not exactly the same thing. Some investment income is passive income. That's a really more of an income tax term. Okay. But uh oftentimes

[10:58] the income we get from investments, we're not, you know, spending a lot of time generating that income. We make the investment and then whoever is sponsoring the investment, it may be a bank, it may be a company. uh they are actually doing the work of generating the income that becomes uh that that is then distributed to the owners of the venture as investment income. So um in investment income typically requires some capital and some patience um but it

[11:35] it can and and and sometimes is uh passive income as I mentioned moment ago. Okay. And then the third type of core income is is leveraged or scalable income. And this is thing like these these are things like digital products, courses, um you know licensing ventures, those sorts of things. So uh uh you could also say it includes royalties and and and and those types of uh income that are generated from intellectual property. So this is income

[12:13] that it's not tied to the w hours that you work per se. Okay? So a a lot of these things will generate income. You you set them up and they kind of operate on their own. Um they're not investments in the sense of you're investing money in some kind of venture and it's paying a return. They are typically some kind of businessoriented venture like I said you know digital products courses that sort of thing. However the compensation does not come from the hours that you

[12:48] work per se or it's not I should say it's not tied to the number of hours you work. it's tied to the number of digital products sold or the number of courses sold or or you know the the the ability to license a particular thing and and gain income from from those licenses. Okay. So any any of us can earn income in any of these three core income areas. It really depends on what our knowledge, skills and experience

[13:23] give us the opportunity to do, right? And then then we need to to the extent that we want to either move into other income streams or expand them then we need to expand our knowledge, skills and experience. Okay. So how do you get started? Well, the the the key thing I think is is to start small. Okay. So, I'll I'll give you an an example. Uh maybe an example of how not to do it. So, when I first launched

[14:00] the Way to Wow shows, which is now seven years ago, okay, back in 2020, I actually um I I've talked about this before. thing. I once a month I converted my living room into a television studio and I got together with my uh with my longtime producing partner. We brought in our our um our director of photography that we'd used for decades on various projects. And I did the show I you know I brought guests uh into into

[14:36] uh the studio and and it was it was pretty elaborate. Okay. But I was really looking to only do one show a week. So in in you know in one month's shooting I would do somewhere between four and I would I would shoot four to eight shows right and then I would release them over succeeding weeks. Okay. So, um, in it, it was kind of starting small on the one hand, even though it was pretty elaborate, as opposed to what I do today with my shows where I do three, uh, three shows a week and every other week

[15:12] four shows a week, right? So, I do I do a lot more activity now, but I started out just doing one show a week. and and that was good because uh it was a lot of work getting all that figured out, getting the technology figured out and and you know lining up guests and all that all those kinds of things. So I think the the key thing is once you've established your initial probably earned income situation whether it's you know working as an employee or you've started

[15:48] a business that whatever you do next should be relatively small at least at the beginning so it's sustainable. It's something that you can do and keep doing. Okay. But it's not going to have a major disruption to the other things that you need to do in your life. So it it it is interesting that over the years that I've been doing my show, I've spoken to I I can't even tell you how many people who who say, "Oh, I I really want to start a a podcast." I'm like,

[16:23] "Great. I'll be happy to help you. I'll I'll I'll do it, you know, pro bono. always happy to help, you know, people succeed and and and they see, you know, well, what do I need to do? And I said, well, first thing you need to do is select a topic that you want to do, you know, on which you want to do your podcast. Second, you need to decide uh what day each week you're going to broadcast it. And third, you need to set a date for the first broadcast. If you do those

[16:59] three things, okay, then you'll be motivated to actually launch it and make it happen. And over the, you know, seven years that I've been doing this, exactly zero people uh have have done that. And I think part of it is because it seems like so much. I've even said to them, look, you don't have to do it every week. You can do it every other week. You could do it once a month. I said less than once a month, you're not really doing a podcast. Uh you're just doing something once in a while, but you need to set up some kind of periodicity.

[17:36] Like I said, once a week, twice, you know, every other week or once a month. Uh and then you just need to start doing it, right? That is the hardest part in any of these things is just to start doing it. It it seems much more uh complicated, overwhelming before we start. Okay. Once you get into it and you start dealing with it, yes, there's going to be all kinds of things that come up that you didn't anticipate and that it's going that are going to

[18:11] take more time than you anticipated. And when that's true, whether it's some kind of investment or whether it's doing, you know, some kind of a podcast, some kind of, you know, digital product, which is essentially what a pro podcast is, doesn't matter what it is, it it is going to be more complicated than you anticipated, which is why you want to start small. Okay? So, if you if you start this big, okay, at the launch or after you launch, it may turn out to be this big, but that's still manageable. If you start this big, okay, after the launch, it may become this big and it

[18:47] may not be manageable and sustainable. That that is, you know, the reality of these kinds of ventures. And so when when when whatever it is you decide to do, okay, make think of it in terms of I'm going to start small and then build from there. So, you're not looking to make a home run with your first venture. In fact, you know, hopefully you're gonna like get a hit and get on base with your first venture. If that's if that's what you do, you get to first base with your

[19:23] first venture. That really is actually an enormous success because the vast majority of people don't even get that far. And don't let don't be fooled thinking, you know, you hear about, you know, this person had this huge success and it happened right away. That's almost never the case, right? Uh the there used to be this uh saying in Hollywood that uh it took, you know, Carrie Grant, you know, 20 years to become an overnight success. Now, that's not literally true. It didn't take him

[19:58] 20 years, but it took him probably 10 or 15 years of hard work. The first probably five plus years in total obscurity before he finally got any kind of break at all. And then he built from there. That's true of almost everyone in that business. So this idea that we're going to launch and and and and sort of become fully actualized in in our second income stream or a second income stack. Uh no, that's that's not the way it

[20:33] happens. And in fact, our our second income stack uh may turn out to be a flop. And so we've got to we've got to try again. So, when I started my uh first business back in 1986, my my real estate company, I was working on getting it going and and I had gotten up to a, you know, kind of a certain level. And then I had an idea for doing what I thought were some catchy, you know, slogans on some t-shirts. The t-shirt business was really big uh back in the mid80s. There were stores where you'd

[21:09] walk in and all they did was sell t-shirts, right? And so I decided to start a small side venture making these t-shirts, right? And I, you know, I designed them and I got them printed up and I went to some of these t-shirt stores and I even I even made, you know, sold some some t-shirts uh to the stores. But I realized pretty quickly, wow, wait a minute. for me to make any kind of significant income selling t-shirts, I'd have to sell thousands of them. And I realized, nope, no, this is

[21:45] not this is not a this is not a good side venture, which is what I intended it to be, right? So, I stopped doing that. And I actually ended up getting into teaching part-time, which turned out to be very lucrative. And interestingly enough, uh, I I was able to get business and I was able to get paid to market myself by being a teacher. And so that became one of the most important marketing avenues for me was looking for other opportunities to

[22:20] teach. So I started out teaching for a company that that taught real estate classes for people wanting to get a real estate license. And then for for people wanting to get an appraisal license. And then after and after several years of doing that, someone I knew came to me and said, "Would you be interested in teaching at UCLA Extension, which was at the time probably the largest adult education program in the Los Angeles area, and and indeed asked me if I wanted to take a class that I had taken years before when I got my real estate

[22:57] license." And I, you know, I was in awe of the person who had taught that class and I would be taking over from him and I was like, "Yes, I want to do that." Right? And I taught for UCLA Extension for many, many years and indeed got a small pension as a result of that work, a 401k type pension. So, but what I initially started doing was I taught you know one or two uh evenings actually I think I initially started out yeah teaching two evenings a week

[23:32] um for like three weeks in a row or something like that. So I started out very small doing that teaching okay and then you know expanded from there. Now, it was never anything close to full-time, but at one point, I was doing uh all day classes maybe four or five times a month, which which paid a lot more um gave me a lot more exposure and also, you know, helped me generate uh more potential more leads for potential business, right? And so, again, the key

[24:07] thing is is to start out small. So, you know, people tend to kind of overthink the process and never get started. That's not the way to go at all. So, think about something you you can do to freelance based on a skill that you already use. Maybe doing some consulting or or something like that. So, maybe you've got an extra room in your house. Uh or maybe you can convert your garage to a little apartment and you can rent it out. That's you know something very simple to do like that.

[24:43] Or maybe you can start doing some automatic investing where you start kind of just building a little nest egg on the side uh and you start learning about a particular type of investment and you start a little bit and then grow from there. Okay. All of those are good ways to get started. They're small. They have they they have a limited time commitment, but they will take you to the next level. The idea in starting small is not to make huge money. It's to get proof of concept to figure out is

[25:20] this something that will work. Okay? Like with me with the t-shirts, it didn't work. Okay? So, I didn't do that. I went and found something else. And in this case, it was the teaching. Okay. All right. Let's take a quick break. We'll come back for some more. When life brings unexpected changes, managing inherited property shouldn't add to your stress. Magnum Properties specializes in probate and trust real estate management. We handle the complexities while you focus on what

[25:55] matters most. From property maintenance to tenant relations, from legal compliance to maximizing value, we're your trusted partner through every step. Magnum Properties, Inc., turning property challenges into peace of mind. Call us today at 213-264-4396 or visit magnumprops.com. Okay, so you've started out small. Now what you want to do is start stacking

[26:30] complimentary income streams. Okay? So what what you want to do is figure out how can I stack income streams so that each is reinforcing the other. Okay. So I mentioned uh before the break that I started a real estate business and then I got involved in teaching real estate. Okay. And those two reinforced each other because as a real estate practitioner, I could bring realworld experience to

[27:06] the teaching that I did, which made me a better teacher. Okay? While at the same time, I'm teaching to people who don't know as much as I do, don't have as much experience as I do, but they sometimes needed real estate services. So now I'm standing in front of them helping them learn but also in essence showcating showcasing my knowledge and expertise and so from time to time they would contact me later and say hey I don't know if you remember me I was in your class I need this real

[27:41] estate thing done would you be interested in helping me with it? Right? So the two reinforced each other and it was it was a an an ideal matching of income stacks. Okay. Uh and you know eventually of course I got into some real estate investing as well. That's another complimentary income stack to being in the real estate business. And I I will say that most people in the real estate business don't necessarily end up teaching, but they do end up investing in real estate as well as working in it.

[28:16] And part of the reason is because since they're working in the business, they find opportunities to make real good real estate investments, right? So those work together naturally, right? So there are other ways to create complimentary income stacks. So, I've got a few examples over here in my notes. Uh, first one is let's say you have some professional expertise. Let's say that uh you um let's say that you're a nurse, okay? Or you're a physic physician's assistant or a nurse practitioner,

[28:52] right? Well, so having that knowledge base, that those skills, that experience, that could also put you in a position where you could do some consulting. So consulting, what kind of consulting would I do as a nurse or a nurse practitioner, a physician's assistant? Well, one thing you might do is you might teach some courses that are that that people who are who are working in healthcare need to have. So for example, you might teach some BLS, some basic life support courses or

[29:27] even some ACLS, some advanced uh life support courses or uh there might be, you know, other other types of educational opportunities that that that you in which you can get involved, okay, for for pay. There's obviously you can always do that stuff for free. uh but you might also work maybe there's uh you know because again you you understand uh health care and and and how health care should be delivered. So maybe there is there are there is a lawyer out there who needs

[30:04] someone with that kind of expertise to help him with the cases that that he's pursuing. Maybe he does medical malpractice for example and so he needs an expert to help him uh analyze cases and decide what the value of cases is etc. So you might be able to do some consulting like that or you might be able to become an actual bonafide expert witness who testifies in these kinds of cases. And by the way, that's another income stack that that I did when I had my real estate company is I eventually

[30:42] uh because I was doing a lot of uh real estate appraisal and real estate consulting just for investors and lenders and such. So from there I got involved in doing ex expert witness work. Okay, which is typically very lucrative. Okay, when I say very lucrative, you know, back in the 1990s and early 2000s, I would get, you know, sometimes $500 an hour, which even today is a is a pretty pretty nice paycheck. Okay. So, you can go from having professional expertise to consulting of

[31:19] some kind. Maybe from there you do some kind of online course and maybe you do some kind of book. Now, I will say that typically books don't make money. Okay? Uh but but books tend to be valuable because they give you social proof of your knowledge, skills, and experience. Uh and so, you know, that may be the incentive to write the book as opposed to the book actually generating income itself. Okay? So, but but those things typically work together. And by the way, not necessarily in in the order in which

[31:56] I presented them, but but the if you have a professional background, those are some of the income stacks that that you can consider. Okay, let's look at another one. Let's say that you're you're involved in real estate investing. Maybe you bought a house, you fixed it up, and then you turned around and sold it. You made a profit. And so, you know, you do maybe two or three uh projects like that a year. in addition to whatever your regular job is, right? So, you're involved regularly in owning real estate. So, maybe from there you'll

[32:31] get involved in managing property or doing it for or doing some some investments like that for other people. Okay? Now, you wouldn't necessarily be the general contractor because you have to have a license for that. Although you might consider getting a GC license and and coordinating the you know the renovations for other people. Or you might just um you might just get uh you know somebody else who puts up the capital and then to to buy the property and then you oversee the renovation and

[33:06] you oversee the sale of the property and maybe you get a cut of the profit or maybe you get a fee for doing the renovation and and you know again a cut of the profit or something like that. And so you do that kind of with individuals and maybe from there you get into syndicating real estate investments where you find maybe it's a larger property a a multi-unit property although don't do that here in California uh but you know or a commercial property that's a renovation opportunity and the cash needs of the property or the capital needs of the

[33:42] property I should say are larger than what you can handle and So you bring other people in and you create what's called a syndication, right? This is the path that my friend John Rabino took. John's been on my shows, I think a couple of times. Actually, there's there's going to be an episode with John coming up here on uh people making money. But this is really the the path that John took. So like me, John was in the Navy. And then he started he he would buy a house. He and his wife would fix it up. They turn around they'd sell it. And eventually John with a partner built a syndic what amounts to a

[34:18] syndication business, a real estate investment company. And that's his primary now that he's he retired from the military a number of years ago. That that has become his primary business. Right? So he he income stacked while he was in the military. Okay. And then finally, let's say you're really into investing, investing in stocks and bonds, maybe crypto or whatever. So maybe you'll start with that and then maybe you'll do uh some sort of newsletter sharing your experience, sharing your knowledge. Um, you know, it

[34:53] could be an email newsletter, something very simple. Could be some kind of website or it could be, you know, some kind of podcast, either an audio or a video podcast. Okay? And you develop an audience uh of people who will uh, you know, pay to get your advice. Maybe they won't pay a lot. Maybe maybe a subscription is only, you know, $10 a month. Oh, okay. But still, if you get a 100 subscribers, you're making $1,000 a month, right? And the fact of the matter is whether you have a 100 subscribers or 10,000, it's largely

[35:28] the same amount of work, right? And so you've got kind of a leveraged or a scalable income there. And then maybe from there, you actually get into some kind of formal advisory services. Maybe you go and get securities licenses. you start a you know um an RAIA or you maybe get involved in an existing RAIA. Right? So all of these ways all of these are ways of of looking at what are my knowledge skills and experiences now and how can I use them in other ways to create either uh investment income or

[36:06] leveraged or sca and scalable income. Right? So typically we start with earned income. Now the next stack may be another form of earned income. That's fine. Okay. But what we want to do to the extent we can is is stack in different types of the core incomes. Remember the core incomes are earned income, investment income and leveraged or scalable income. So that makes our income more durable and it makes our ability to build wealth uh also more durable. Okay. So finally,

[36:42] um, why, you know, why is it so important to to look at income stacking, right? I I'm I'm going want to wrap up with this to kind of bring the message home. So I I've I've talked about this often when I deal with starting and running a business. when you work when when you're an employee. Okay, essentially you have a business with one client, your employer, okay, and that client, if he fires you or lays you off, causes

[37:19] your income to go from 100% to zero. That's just the nature of working for someone else. Now, you may have uh, you know, greater or lesser job security because maybe you're, you know, you're unionized and so there are strict rules about whether you can be laid off or fired or you may work for a government entity. And again, there there may be strict rules about that. But for most of us, employers can pretty much let us go if they want to. And they can do it for

[37:54] a variety of reasons. They can do it because business is slow and they feel they can't afford to keep us on the payroll anymore. They can fire us because they think we they've decided we've done something wrong and they don't want us there anymore. Okay. Um the reality is if they don't like us, they can fire us. Now, if it's for discriminatory reasons, we may have a claim against them. But but the fact of the matter is they can often times hide that. And the bottom line is in the meantime, if if we've been fired, even if it's for the wrong reasons, um we

[38:29] still have no income, right? And so the I think the people who are most vulnerable are those who have just a single job uh and also a single job that isn't uh high highly skilled or that doesn't require high skills and a lot of knowledge and experience because they're more easily replaced. Right? So the the more skills the more knowledge and experience we have the harder it is for us to be replaced. and so the more secure our job is. But in any event,

[39:04] okay, our job is a a when we have a job, we have one source of income. When we have a business, we don't necessarily we're not necessarily more secure, per se. However, if we've got a business and we have 20 clients, if we lo lose one client, okay, well, we lost one client, our income may drop, but in the meantime, we still have our 19 other clients. Okay? So, as long as our business isn't, you know, 90 95, let's say, percent uh reliant on that one client, we're pro, you know, we're still

[39:40] in in in good shape, right? So income stacking is kind of like having multiple clients in the sense that we have multiple sources of income that are building our wealth. So it puts us in it reduces our risk and it gives us greater financial independence. So when we have multiple income streams if one slows okay we can maybe focus more on the others to stabilize our household income. Okay. Um, and it may be over time that one of our stacked incomes can

[40:19] replace our primary earned income, our paycheck, right? It may be that we'll end up transitioning from being an employee to being a business owner. Like when I talked about investing knowledge, right? And I said maybe you go from there to doing some kind of newsletter or podcast or something. Maybe you go from there to becoming, you know, an RAIA, a registered investment advisor. Well, maybe, you know, you were working, I used healthcare before. Maybe you were working in healthcare and you were investing on the side, but maybe eventually you get so good in investing

[40:56] that that becomes your full-time work and it replaces working in the health care business. Okay? So, that can take place as well. and uh and and so one of your income stacks can end up becoming your primary source of income. Okay? And and the real objective here is to build financial resilience and optionality. So week or two ago, two, three, four weeks ago, I talked about optionality. Okay, it is an it is a really crucial aspect of wealth building to have options. So

[41:33] if one thing starts to decline, we can go in another direction and keep building in that regard, right? So we're not we're not left at a standstill and now having to build another income stream or another um in investment, you know, from from a standstill. Okay. So we we we want to try and keep a few this this is a few plates in the air. This comes from if you if you're familiar with a TV show from when I was a kid called the Mike Douglas Show. Uh he would have this guy come on periodically

[42:10] and he had these thin I I think they were plastic um poles makes them sound you know too thick. They were probably about I don't know maybe I don't know half an inch thick or something. and he would spin a plate on top of there was maybe five or six of them or whatever and he'd get all of them going, but then he had to be running back and forth keeping all the plates spinning because if they slowed down they would fall and break. And of course that was the fun of it was to see could he keep them going and of course inevitably he would one would slow down or two would slow down the same time and he's and they're too far apart for him to keep them going and the plates would

[42:46] drop and break. Right? So you want to try and keep all your plates in the air, right? And that's how to build uh greater resilience. So uh what what are some some key takeaways from this? Well, first of all, income stacking is not about doing everything. It's about being thoughtful in layering your income and investing over time. Okay? Not chasing every possible side hustle. So the key thing is to look for um mutually compatible that's redundant.

[43:22] Look for compatible income stacks so that you're sort of raising the overall tide of your income. Okay? Like I like I did with my real estate when I was had my real estate company. Okay? uh start small with one small additional source of income that's beyond your primary job or your primary business, okay? And see how that goes. And if you can get that going, start expanding it. If it doesn't go, look for something else to do. Okay? Then grow them

[43:59] gradually. just add a new periodically assess where you're at and see if you have the capacity to add another layer to the stack. It may be investing, it may be consulting or some other kind of small business. Okay? But whatever it is you decide to do, do it intentionally and do it gradually because sustaining it is the most important part. If you start doing five things and then after six months stop doing them all, that that hasn't been of any value.

[44:34] You're much better off starting one thing and keeping it going for a year than starting four things that you end up burning out and quitting after four, five, six months. Okay. Um and then next again um oh right the the idea is multiple income streams so they can create greater stability in your overall finances. And so as you look for ones that are compatible that are mutually reinforcing

[45:10] right that is part of of building that stability. Okay. So that's something to really f on which to focus as you look at what potential income stacks you're going to try. And then the ultimate goal of all of this is flexibility and choice optionality, right? to give yourself financial resilience on the one hand and on the other hand the ability the freedom to decide how you want to work and most importantly how you want to

[45:48] live. Okay. So so that's that's the message of income stacking and I I encourage you to to think about it if if you're you know if you're married talk to your spouse about it. Maybe there's something you can do together or maybe there's something you can do with a friend. You don't have to income stack by yourself. You can do it with other people. So, as much as my shows look like a solo effort, and they they are in terms of presentation, but my friend Bill and I have very similar uh shows.

[46:23] We we do things in very similar ways and we work on a lot of stuff together in terms of developing concepts and finding guests and that sort of thing. And so uh while we each have our own venture uh we also uh work together and help each other out. And that's that's important because it gives it gives it gives us someone to whom we're kind of accountable, right? It also makes it more fun because we've got something interesting or something that interests both of us mutually uh to talk about and and and on which to engage. Okay. So, I

[47:01] thank you very much for joining me today. Uh real quickly, just my my regular slate of shows. All of these are based on Pacific time. 10 a.m. Monday, uh, trust and estates weekly. 10 a.m. Tuesday, business lessons from the military. 10:00 a.m. Wednesday, like today, people making money. And then every other Thursday at 5:00 p.m. is my show, Jiggers's Place, where we have a cocktail and a schmoo, and we talk about things unrelated to finances. So, I hope you'll continue to uh to join me and to

[47:37] tune in. You can watch my shows on YouTube, Spotify, and Apple Podcast. If you have comments, questions, criticisms, links to social media are in the show notes. So, feel free to do so. As is my uh email address if you have something private uh that that about which you want to contact me. uh always with the proviso that I'm happy to respond but if it's not something about which I have knowledge or or skill I I'm not going to advise you but I will be uh happy to connect you with someone who I

[48:13] think can help you out. So, I wish you a wonderful rest of the day. And that just leaves me to sign off and say, Marie darling, you are my bell. Courage at all times, my friends.