You are correct that having many streams of income can be an excellent strategy to achieve financial stability. It is usually a good idea to maintain an emergency fund to cover any unforeseen expenses. You're also correct that this strategy can help you hang onto your money even when the market is down. It's a technique to create a safety net for yourself so that you don't rely solely on one source of income.
Having numerous income streams can help you achieve not only your investment goals, but also your other financial goals and many other aspects of your life more quickly. For example, If you're aiming to save for a large purchase, having numerous sources of income can help you get there sooner. Again, having many sources of income can help you achieve financial independence more quickly. And Finally, having numerous income streams can help you strike a better work-life balance. You can decide to work less in one area and more in others that are essential to you, such as spending time with family or pursuing hobbies.
having good sources can help one to secure a nice investment for himself, and would also help in hitting his accummulation goal sooner , with some lump-summing , buying the dip ( when it occurs) and frequent use of DCAing to accumulate more bitcoin . And also having some good sources would also help one in having some good amount of emergency funds inorder to coverup expected and unexpected expenses, without ever thinking of tampering with their investment, as their portfolio keep increasing with time. But still even those with no numerous sources can also secure a good investment for themselves, with proper planning concerning his financial situation and all that. And also with some good principles to handle their investment properly .
It's easy to grow overconfident or even lazy when you have a single source of income that's satisfying your demands. However, you're precisely correct that this can place you in a vulnerable situation if anything changes and that source of income goes. You've also made a really significant point about being comfortable with risk and seeking new chances.[/quote] that one need to be creative, like someone with a single source that's able to satisfy his demand (a monthly earner) , should establish a personal business , where he can employ some workers with some nice skills. As another sources to earn extra funds from and also as a back up source if the recent source of income goes as you say. Such individual may decide to use some percentage from his personal business to accumulate some good bitcoin in their portfolio weekly or they may decide to make their DCAing monthly so that he can take some percentage from his business and monthly jobs . In order to buy some go quantity of bitcoin as a monthly DCAing. And still would be able to gather some good funds during the weeks for DCAing and also putting aside a nice amount of money for emergency funds.