“Multiple Streams of Income”
26 January 2007
Today is the beginning of the three-day Enlightened Wealth Institute (EWI) at the Hilton in Seattle. (EWI is the new moniker for Enlightened Millionaire Institute, which they say reflects their focus on “enlightened living” rather than money.) I’m going to attend, but not until the weekend because I’m busy helping at the NSRF Winter Meeting held just across the block at the Sheraton. The focus for this EWI conference is “mulitple streams of income,” which EWI founders Robert G. Allen and Mark Victor Hansen describe (both instructionally and narratively) in their book The One Minute Millionaire. In a nutshell, it advocates approaching wealth-generation through (no surprise) multiple ways, such as real estate investing, “info-preneurialship,” and both Internet- and retail-based sales. The book also strongly advocates the use of teams and mentorships, which are hallmarks of the EMI process.
In 2003 I attended a similar EMI conference in Las Vegas focusing specifically on real estate investing. It was very exciting and had a lot of information about REI; I was already an investor but the ideas—and indeed just the energy in the room—were inspiring. Yes, it was a hard sell in the vein of “you’ll learn more when you become a member and have access to x, y, and z!” Nothing wrong with that, as I’m sure their protégé mentoring program they were selling would be very rigorous and (with some luck) prosperous.
I’m looking forward to the material since I could use a little “pumping up” after the disasterous challenging process of our home-building deals in Florida. I’ll post again once I’ve learned more.
This is bizarre. I just finished reading that book last
mikewatters | 27 January 2007 | 3:06 pmThis is bizarre. I just finished reading that book last week. It was an interesting proposition, but I have to say, I’m still not sold on the idea of real-estate investing as one of my multiple streams of income. It just seems like too much work in a field that doesn’t really interest me. I think a side business in pet portrait photography is more my speed…
You don't let Mike validate or invalidate any method you
bradleyjpaul | 30 January 2007 | 10:37 amYou don’t let Mike validate or invalidate any method you choose for amassing multiple streams of income. If you could hear some of the ideas that come up on a daily basis…my god. Why, I blush just thinking about them.