One of the recurring themes on the Manosphere blog and youtube channel is what exactly is an alpha male. Obviously this is a multi-faceted question with many aspects to it ranging from financial, physical, spiritual and beyond.
One of my uncompromising positions is that an alpha male always has a source of income that is totally controlled by him. This is particularly important for black men whose employment status is always more tenuous than our white and female counterparts.
As a highly specialized physician who leads a relatively modest lifestyle, the income from my job is more than adequate to cover both my family’s basic expenses as well as discretionary expenses such as vacations etc. Additionally we were purposeful about doing traditional retirement investing including maximum contributions to my 401-K annually. On the surface this seemed like a very secure position, but ultimately all of my income was being derived from a single source, the hospital. If for whatever reason I was let go then that would be the end of my income stream. Realistically I could fairly easily find another job, but that wouldn’t solve the fundamental problem of being overly dependent on an employer. Also, since I live in a one hospital town, losing my job would also necessitate moving to a new location.
So I decided to challenge myself to create multiple other streams of income that in total could actually provide for at least our basic expenses in the event I lost my job. The rationale was that I didn’t want there to be any type of panic decision making or scrambling for whatever was the most expedient job simply because I had bills piling up. Additionally, I didn’t want my wife to feel stressed or have to uproot the kids out of their routine abrubtly. Economic cushion allows you to live life more on your own terms which in turn leads to less stress and, in my opinion, is the best benefit of money.
On a side fellas- as much as my wife likes her one true indulgence (nice vacation resorts), she absolutely loves seeing 6 months of living expenses in the bank above that. I highly recommend that the women in your life have a similar priority.
The two principal vehicles to produce income streams are having a business or an investment. Since I had the disposable capital but not much disposable time, the investment route was the obvious choice. I began the long process of self education in the arenas of cashflow investing, and my journey led me down the path of rental property, private lending, and more which is all chronicalled in my first book HERE.
For those of you who choose to go the business or side hustle route, it’s never been easier with the emergence of the freelance economy such as driving Uber, Airbnb, Youtube, e-commerce and the list goes on an on. Indeed it has been estimated that approximately 25% of the current workforce does freelancing and that number continues to grow as long-term job stability declines for everyone across the board.
When it comes down to it; in our capitalistic society, economic security is the cornerstone from which springs forth the quiet enduring confidence that characterizes the mature alpha man.
Do you agree with my assertion that you need to have multiple income streams? Please leave your comments below.
“Doc” is a practicing oncologist and investment enthusiast. His writings and insights have been featured on MSN money, BiggerPockets and The White Coat Investor. His first book “Alternative Financial Medicine” shows how anyone can invest in high yield cash flowing assets. Available on Amazon HERE