Introduction
I was young, ambitious, and determined to climb the career ladder. I had been working as a broadcast journalist in a TV newsroom in London for a few years. So, when the company announced redundancies, I didn’t think it would affect me. I was young and cheap—surely I wasn’t a target. But life has a way of surprising you. I still remember that day vividly, standing outside in the cold, in a square in Central London, totally shocked.
It wasn’t just about losing my job. It was the realisation that I was just a number—someone else had the power to dictate my financial future. I hated that feeling. That moment drove home the importance of not relying on just one source of income and gave me the drive to take control of my future.
The Realisation: Property as My Lifeline
Luckily for me, I already had a buy-to-let property in South Wales that I had purchased while at university (you can read more about that story in my previous blog). That property became my lifeline. Even as my regular income stopped, my rental income kept coming in. This was my moment of realisation: property could be a reliable, ongoing income stream. It wasn’t just something on the side anymore—it was the foundation of my financial security.
And here’s the thing: you never know when your income will dry up. Whether it’s redundancy, a global crisis, or a personal emergency, having a fallback is essential. Property, for me, became more than just a monthly income—it became an asset that was also growing in value over time.
J.K. Rowling: A Story of Resilience and Transformation
My story of redundancy isn’t unique—many successful people have faced similar challenges. Take J.K. Rowling, for example. Before she became a household name as the author of Harry Potter, Rowling was made redundant from her job as a researcher. At the time, she was a single mother living on state benefits, struggling to make ends meet.
But instead of giving up, she channelled her energy into writing. Despite multiple rejections from publishers, Rowling persevered. Her story is one of resilience and determination, and ultimately, she turned her financial situation around. Today, she is one of the wealthiest women in the UK, with an empire built on the world she created through her books.
Rowling’s journey shows us that redundancy, while painful, can also be the catalyst for something greater. It’s a powerful reminder that setbacks are often opportunities in disguise—whether you’re writing a bestselling novel or building wealth through property.
“Rock bottom became the solid foundation on which I rebuilt my life.” — J.K. Rowling
Why You Need More Than One Income Stream
You might be reading this and thinking, “I’m secure in my job or business. I don’t need another income stream.” But let me ask you this: what if something unexpected happens? How will you cope? And even if nothing goes wrong, what’s the downside of having an asset growing in the background, providing a safety net and extra financial security?
Let’s take a moment to look at recent events. The 2008 financial crash caught millions of people off guard (I remember reporting on it!), wiping out savings, jobs, and livelihoods. Fast forward to the COVID-19 pandemic, and we saw the same thing happen again. Businesses that seemed rock solid were forced to close their doors, employees who thought they had job security were furloughed, and many were left wondering how they would make ends meet.
Diversification is key. Relying on just one stream of income is like putting all your eggs in one basket. It might feel secure right now, but if that basket falls, you’ll be left with nothing. Having multiple income streams, particularly from an asset like property, provides a cushion for those unexpected moments.
My Personal Story: Property Gave Me Freedom During a Crisis
For me, the true power of property investment became clear when my son was born. He became very unwell very quickly, and so did I. I had to step away from work to focus on him, to relocate to the hospital, and to deal with a very intense personal situation. I was lucky—I could do that.
Thanks to the property portfolio I had already built, my tenants kept paying rent, and my assets continued to grow in value. I didn’t have to worry about money during that difficult time. Property gave me the freedom to stop working and focus on what mattered most—my family.
Start Where You Are—It Doesn’t Have to Be Overwhelming
You don’t need to feel overwhelmed by the idea of diversifying your income. The key is to start where you are. When I first started investing, I didn’t have all the answers. I just knew I didn’t want to be dependent on someone else to look after me financially. I read as much as I could, invested in my education, and took small steps to build my portfolio over time.
A story that always sticks with me is about a friend who saw me reading a book on property investment. When I recommended it to her, she said, “I’m terrible at money management. I don’t want to read it because it’ll just show me how much I don’t know.” But that’s exactly the point—you can’t bury your head in the sand. No one else will take care of your financial future. You need to take control and look after yourself.
“It does not matter how slowly you go, as long as you do not stop.” — Confucius
The same goes for property investment. You don’t need to know everything to get started. Take one step, do your research, and begin to diversify your income stream. It’s about progress, not perfection.
How Property Can Protect You in the Future
In property, not only do you have cash flow from rent, but you also hold an asset that grows in value over time. And here’s the best part—you don’t need to have all the money up front. You can use leverage through mortgages or private finance to buy the property. Over time, property can provide a steady stream of income while your investment appreciates in value.
When I think back to the challenges I’ve faced—redundancy, personal emergencies, and economic downturns—property has always been my safety net. It allowed me to step away when life demanded it and still provided me with financial security.
Take Control of Your Future
It doesn’t matter how secure you feel right now—things can change in an instant. Whether it’s a financial crisis, an unexpected redundancy, or a personal event, relying on one income stream is risky. Building a property portfolio doesn’t happen overnight, but starting now can set you up for long-term security.
You don’t need to dive in headfirst. Just start where you are, educate yourself, and take one step at a time. Trust me, the peace of mind that comes from knowing you have another income stream working for you is priceless.
“The best time to plant a tree was 20 years ago. The second-best time is now.” — Chinese Proverb
If you’re ready to start your property investment journey, I encourage you to download my Property Evaluation Checklist. It will help guide you in evaluating properties and making smart decisions. You don’t have to wait for a crisis to realise the importance of diversification—take control of your financial future now.
By joining my community, you’ll also receive regular tips, insights, and support to help you along the way. You don’t have to go through this process alone—together, we can make sure you’re on the right track to building a secure financial future.
Kelly Lemon
