How to Have Multiple Income Sources in Your 20s

Ever wonder that an average millionaire has seven income sources? Whether in a corporate career or a Business, you should hold Multiple Income Sources. As you all know, this lockdown had taught us that we couldn’t rely on a single income source.

If somehow your single income source disappears, how can you manage? That’s the point that most people underestimate about single-income sources. In the upcoming era, there will be a complicated life for one living on a single income source.

“You can only be financially free when your passive income exceeds your expenses.” 

T. Harv Eker

Harv Eker deeply describes the significance of passive income sources. According to him, one can only be financially free if his passive income sources or multiple income sources cover his expenses.

If you’re in your 20s, this is your whole life’s foundation. This is when you will learn how to earn and how to manage money and if you are building multiple income sources at this age, you are securing your whole life.

Your 20s are the most critical years of your life because this year will decide how your future is going to be. I’m not demotivating you if you don’t have multiple income sources. But at this age, you have to meet the facts.

Moreover, if you don’t know how to have various income sources, don’t worry. In this guide, I will deeply describe the six ways from which you can build multiple income sources in your 20s.

Which are the 6 Ways to have Multiple Incomes Sources in Your 20s?

  1. Investment Capital Gains
  2. Real Estate
  3. Business
  4. Dividend Stocks
  5. Crypto Currency
  6. Peer-to-Peer Lending

So let’s dive into the deep and uncover the six ways you can build your bright future.


Investment is a challenging word if you are in your 20s, but what if I say you can make around $20 Million (? 1.4 crores) by just investing $55 (? 4000/-) per month for 30 years. Don’t believe in me? You can check here by calculating the SIP at a 12% return rate.

The magic behind these unbelievable returns is Compounding. Your today’s minor investment will make you a Millionaire after 30 years. With your 20s investment, you can plan the best retirement for you.

Real Estate

Investing in property is among the top ways to multiply your income. Real Estate Agents make Millions of money by just buying, selling, and leasing properties.

It’s pretty tricky for you to buy a property in your 20s, but it isn’t impossible. Yes, it needs a significant investment, but it’s great to begin early.

Following are the ways to get started with investing in property early.

  • Educate yourself in the field of Property Investment.
  • Focus on your credit score so that you can get loans.
  • Save from your earnings and invest in property as a down payment.
  • Interact with your city’s real estate agents and keep an eye on properties nearby you.
  • Tie up with Real Estate Agents and find property buyers and sellers for them with the exchange of commission so that you can get knowledge of Real Estate and additional earnings sources.


Business doesn’t mean renting offices or hiring employees for 9 to 5 jobs. A Business can also run online. The best part about business is that it can be run in an automated state. This means you have no need to engage all the time in your workplace.

Focus on businesses that don’t want your time in exchange for money. This type of business can be a Freelancing business. You can build a freelancing community in your 20s and hire freelancers as your workload increases. In this way, your business will be able to run without you.

Dividend Stocks:

When some stock market-listed companies profit, they give dividends to their shareholders. Dividend stocks are stocks that distribute some proportion of profit to their shareholders through cash payments. With Dividend stocks, you can make a good income source.

Suppose you know the stock market and how to find the dividend stock with solid fundamentals. Then it can also be an excellent way to increase your fortune over the long term.

Suppose you’re planning to invest in Dividend stocks. In that case, you have to find a company with a five-year profit loss statement and invest in it to take benefit from dividend stocks in your retirement period for the long term.

Crypto Currency:

Another best way to invest in your 20s is Crypto. Crypto Currencies have gained too much popularity nowadays. Many people had invested in them and made a decent profit from Crypto trading.

However, I am here not to advise you on Crypto trading. Because every coin has two sides, Crypto trading is sometimes risky. As a result of which, I suggest you choose some well-performing Crypto Currencies and invest in them.

Who knows that your chosen Crypto will make you a millionaire one day, like Bitcoin. The price of Bitcoin before 2011 is less than a dollar; now, the price is more than $38000.

Investing a small amount in different CryptoCurrencies long-term will give you results. Don’t use a large amount in a single Crypto.

Peer to Peer Lending:

Peer to Peer Lending or P2P lending is the procedure of loaning money to borrowers. P2P is one of the decent ways to invest your fortune in your 20s.

P2P website connects the borrower with the investor. This is the alternative way to lend money from banks. Here the website checks the eligibility of each borrower and lends the money to the appropriate person with a predefined interest rate.

You can invest a little amount of your savings in P2P lending with a fixed interest rate. During the investment period, you can make a good amount of money only through the interest and your Invested amount.

You can get up to 16? interest on some loans. But, if you invested 10k from your savings in P2P lending and you are getting an average of 10% interest, then you can make 1k; now you have 11k.

The Bottom Line:

“You can’t have a million-dollar dream with a minimum wage work ethic.”


It’s not as difficult to have multiple income sources as it seems. This is the time to stop overcomplicating the process of numerous income sources. You need the skill and planning behind your efforts for multiple income sources.

Further, as you start building another source of income, you will realize that your time is finite. So try to discover new ways of income. If you fail, not a big deal; remember, you will learn something new every time, which will help you build another source of income.

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