Number of income streams you have built

[Zach Temple]

It was mentioned briefly on a podcast I was listening to today that millionaires have a minimum of seven income streams at all times.

What do you consider your real estate investments as, one whole income stream or multiple? What else do you consider as an income stream and why? Me personally, I only have two rentals so far, but I consider it as one whole income stream even though it doesn’t make up a whole income for me yet as I’m building.

[Jonathon Weber]

A lot of people confuse income types with income streams. If all of your income is derived from the same type of activity, they are the same type of income stream, just coming from more than one origin of payment. 

Real estate, bonds, job, business, speeches.....all are different income streams. 

The biggest challenge in life is not earning money, it's diversifying the income to generate income from many different origin types (real estate, job, etc).  

And, yes, to become a real millionaire (what I call $1M in the bank) you have to have around 7 income streams.