Diverse Interests Create Diverse Income Streams

cash-moneyThe more interests you have, the happier you will be. Imagine if one of your hobbies is analyzing clouds, or cumulonimbuses for the scientifically savvy. You could step outside any time during the day and entertain yourself for hours.  There are so many things around us that our minds tend to filter things out so we can focus on more important tasks.  If we stopped to admire everything, we’d probably never get anything done!

Income diversification is important during weak economic times since you never know when one stream might dry up.  However, the funny thing is that I’ve never purposely thought about creating new income streams for the purpose of diversification until this year.  Instead, my diverse interests have lead me to have a diverse amount of income!  It never occurred to me to count up my non-job income and figure out what percent it is of total income. But, as I started adding things up, I was amazed to realize some months would regularly achieve 25% and up to 50% of my gross base salary!

VARIOUS EXAMPLES OF INTERESTS THAT CREATE INCOME

Dear Personal Trainer, You Are Worth The Money!

Ouch.  I’m so sore it feels so good baby!  I gave it a go with Meredith the personal trainer for a free 45 minute trial session and she did things to me that no woman has ever done before.  She made breathe heavily and sweat profusely!

She showed me exercises I never would have thought of doing to solely focus on getting me into shape for tennis.

45 Minute Trial Routine

* Sumo squat rope wave.  Whuh?

* Three TRX exercises to improve the quads, core, and shoulders.

* Wind sprints on the treadmill 3 minutes jog, 30 seconds sprint, 30 seconds rest 8X up to 12 mph.  I would never do these voluntarily.  Why suffer?

* Pro-roller stretches to roll out the calves, quads, IT bands and hamstrings.  Talk about pain all over.

* Side stepping through a maze for quickness and agility.

* Core training with cable pulleys three different ways.

* Four different stretches for the back, torso, and legs.

In retrospect, all the stuff I’ve been doing at the gym has been all wrong.  I was doing bench presses, butterfly squeezes, lat pull-downs, biceps, and triceps.  That’s it really.  I never bothered to do anything cardio, or work on the muscles that would help improve my serve or backhand.  I just went the easy route.  There is also 100% NO CHANCE I would have ever done any wind sprints or anything to make me sweat.  Again, I hate working out so I just focused on doing the easiest exercises that required the least amount of effort!

USING THE BLOG AND PERSONAL TRAINER TO SAVE SOME MONEY

Hire A Personal Trainer Or Get Buff On Your Own?

Working out sucks.  I hate it with a passion because I find it so wasteful to expend energy on doing nothing.  I would rather use the energy to build a house in Somalia, landscape the backyard, or play sports than lift some stupid weights.  That said, working out is also convenient because there’s a gym right across from me that I attend before every team or client dinner outing.  I figure I better pump some iron and jog a little before blitzing my diet!

One of my goals in 2011 is to win a tennis tournament.  To do so, I have to improve my endurance given I faded in both tournaments since we had to play back to back matches each day.  The season really gears up in March, leaving me with a solid two months to get in shape.  I know there is no way in hell I will be able to go to the gym 3X or more a week so I’ve thought about enlisting a personal trainer for help.

THE BIG BUCKS MIGHT BE WORTH IT

Nature vs. Nurture: How Important Are Parents To Our Success?

Yale law professor and mother of two Amy Chua penned an incredibly fascinating article entitled, “Why Chinese Mothers Are Superior” on the WSJ.  Professor Chua is a first generation American who went to Harvard undergrad and then to Harvard Law School.  As a tenured professor teaching at the most prestigious law school in the world, I feel for her kids first and foremost!  Think about all the expectations that are put on them since her husband, Jeb, is also a tenured law professor at Yale.

Let’s say you had parents who walked 10 miles to school every day.  Do you think there’s a snowball’s chance in hell that you will have a car in high school?  You might, but you’d feel guilty every time you get behind the wheel and your parents will likely remind you as well.  In the end, you’d probably compromise and either bike to work, have your parents drop you off, or walk yourself.

Here’s a non-offensive excerpt from her article where she justifies calling kids names such as “lazy”, “fatty”, “worthless”, “stupid”, and “disgraces” when they aren’t performing up to par:

“As a parent, one of the worst things you can do for your child’s self-esteem is to let them give up. On the flip side, there’s nothing better for building confidence than learning you can do something you thought you couldn’t.”  Amy Chua

I agree with her quote, but I definitely don’t agree with calling one’s kids names to shame them into conforming.  The main issue I have with Amy’s view is that she pits Asian mothers against “Western Mothers” who are by default deemed inferior.  I would be incredibly insulted if I was a Western Mother because who is Amy to impose her dictator-like ways on me.  Amy talks in stereotypes all article long about how Asian children always seem to be gifted in math & sciences and music.  Amy argues that it is in fact no coincidence since Asian mothers are such master motivators and disciplinarians.

NATURE vs. NURTURE

The Best Of Financial Samurai 2010

You guys have really rocked the discussions with multiple 100+ comment posts this year!  You’d think this was a big blog or something.  I can’t begin to thank you enough for your contributions and what I’ve learned from you.  A post recap of 2010 is a good exercise to not only discover what worked best for some guidance in the new year, but to also give new readers a chance to catch up via one easy page.

There are literally 36 posts in the queue for 2011, with some of them just screaming to get out.  Why has the queue gotten so large?  Two things mainly:

1) Using a wine terminology, it’s good to give each post a chance to breathe.  Often times there’s so much discussion that to post a new post the very next day feels off.  This is the main reason why I don’t post everyday.  A topic needs to be sussed out thoroughly before we move on.  I like to respond individually to all comments who require a response.  Also, I love reading all the other great blogs out there every other day.

2) I guess I just like to write a lot.  There is always something ridiculous going on in the world that needs addressing.  If you are a blogger who is afraid of running out of ideas, don’t be.  Just read the newspaper, turn on the TV, or go out and socialize with friends.  Remember, if you can speak forever, you can blog forever!

For 2011, I probably should only have a queue 10 deep because I’ve found multiple times that I forget what I wrote just a month ago, and sometimes the topic gets stale or irrelevant.  Let’s add that to the blogging new year goal!  Happy reviewing.

TOP POSTS FOR 2010