Over my five-year-long study of Rich Habits, for which I drew conclusions from surveys of 233 wealthy individuals on their daily habits and compared them with 128 lower-earning individuals, I learned that most self-made millionaires generated their income from multiple sources.

65 percent had three streams of income

45 percent had four streams of income

29 percent had five or more streams of income

Having multiple income streams makes a lot of sense. When one stream is negatively affected, for whatever reason, the other streams can help you keep going without dramatically downgrading your lifestyle.

Most people have one stream of income: their job. If you do not save and invest your savings in assets that generate additional streams of income, and you lose your job, you could find yourself losing everything.

Putting all of your eggs in one basket by being dependent on one stream of income is risky. If that basket breaks, what do you do?