WHY A SECOND INCOME IS IMPORTANT | Marvin Germo

WHY A SECOND INCOME IS IMPORTANT

By: Marvin Germo | November 24, 2019

Is A Second Income Important?

My answer to this question is definitely a yes, but it comes with conditions. If you only have one stream of income right now, I recommend you to start looking for additional channel especially if you think your primary income is never going to be sustainable. Different people have different reasons why a second income is necessary. And today, I am going to share with you some of my insights as to why this is very essential and the conditions that might be attached to it. For those who want to learn more, this is for you!

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The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.

ICON Davao – November 30, 2019
Stock Smarts Manila – November 24, 25, December 8,9,15,2019

It Serves As A Source Of Extra Cash

Technically, a second income is another source of cash for you. I’m 100% that those who look for another way to earn money find their primary source insufficient to support themselves or their families. So, the basic reason why it is important that you have a second income is that it is an opportunity for you to create additional cash that you can use whenever you need it.

It Improves Your Situation

Whether it is a personal or family thing, a second income can help you improve your situation because you are creating layers of opportunities to earn more when you have one. You are not solely depending on your primary income to pay your bills, to give money to your relatives, and to pay for your own needs. Having a second income lessens the anxiety of budgeting your primary income from paycheck to paycheck. Again, having extra cash in your pocket is always a good thing.

It Is An Insurance

In case your first job fails, your second income serves as your insurance. Well, a lot of reasons can trigger company failures such as unfavorable economy, poor business decisions, and stiff competition. You may never know when your company is going to go down. So it’s either you find a good company that will last longer or you look for a second income to be your insurance.

A Financial Planning Tool

As I’ve mentioned above, having a second income comes with conditions. It doesn’t always work for everyone. It should not interfere with your primary source and it should never be the reason for you to lose your first job. Instead, it must be a financial planning tool that will take up a little amount of your time while it takes effect for a longer period of time.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
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