Diversification

“Don’t put all your eggs in one basket.” – Andrew Carnegie

Carnegie’s quote encourages diversification. Whether it’s in investments or income streams, relying on a single source can be risky. By spreading risk across various investments or income sources, you reduce the chance of losing everything at once.

Build a diversified portfolio, whether through stocks, real estate, bonds, or other assets. Don’t limit yourself to a single type of investment or revenue stream. This reduces risk and allows you to weather financial storms more effectively.