Here are my takeaways from Candidly Vivian’s recent blog regarding building multiple streams of income, when working as a Data Scientist.
Financial freedom isn’t about working harder - it’s about working smarter and shifting your mindset to build wealth.
💲Income #1) Full time job (data scientist) - 65% of total income (earned income).
💲Income #2) Side Jobs (teaching, etc) - ~2% of total income
💲Income #3) Investments - ~7% of total income
💲Income #4) Dividends - ~4% of total income.
💲Income #5) Interest - ~14% of total income.
💲Income #6) Google Adsense - ~1.5% of total income.
💲Income #7) Brand Sponsorships - ~3.5% of total income.
💲Income #8) Freelance content creation - ~3% of total income.
Vivian’s Lessons
🤝 Lesson 1) Your time and energy is limited - spend them wisely.
🤝Lesson 2) It’s not about how much money you make, but how you manage your income.
🤝Lesson 3) You don’t need a side hustle (if you are under 25) - focus on increasing your earned income
🤝Lesson 4) You don’t have to come from wealth, to start building wealth - stop making excuses.
🤝Lesson 5) Stop surrounding yourself with the wrong people. i.e. poor mindset or financial habits.
Final Quote:
You are the average of the 5 people we spend the most time with.
It was really insightful to hear her story gaining 6 figures by 28 years old. Also, what inspired me more was her tenacity and ability to strive towards her goals. The tips are very clear, so anyone with the drive as Vivian can execute this too which is awesome.
Feel free to follow her channel: https://www.youtube.com/@candidlyvivian