Why a Second Stream of Income Isn’t Optional Anymore

At our recent networking event in Cape Town, I shared a part of my journey that is very close to my heart. Not because it’s dramatic or impressive, but because it’s real. And because I truly believe it’s something every entrepreneur, professional and business owner needs to think seriously about.

For 46 years, Hirsch's Homestores has been my main business, my passion and my life’s work. Building a brand, serving customers, creating opportunities and growing a business has been incredibly fulfilling. But alongside that, I always made a conscious decision to build something else quietly in the background: a second stream of income.

For me, that was property. It didn’t happen quickly and it definitely didn’t happen with big money. I started with one property, the one I could afford at the time. When that began paying for itself, I worked towards the next one. And then the next. Slow, steady, disciplined. No rush. No shortcuts. Just consistency and belief in the long game.

Over time, that second stream became reliable. Rental income started coming in every month, and with that came a confidence and stability that is hard to describe. It wasn’t about being wealthy. It was about knowing that no matter what happened in my main business, I had something solid behind me. Something that kept moving even when everything else felt uncertain.

Then Covid arrived, and suddenly the importance of having more than one stream of income became very real. Our business income stopped almost overnight. We still had creditors  to pay, staff salaries to cover and commitments that would make your stomach turn and keep you awake at night. If I hadn’t had that second stream of income to draw from to be able to come to the rescue, I would be telling a very different story today. That experience changed me. It changed how strongly I speak about financial independence and resilience.

This is why I encourage my team so passionately to build a second stream of income. Not because I want them to leave Hirsch’s, but because I want them to feel powerful, secure and in control of their future. I want them to know that they are not limited by one salary, one role or one set of circumstances. When people are financially confident, they show up differently. They make braver decisions. They grow faster. They lead better.

Property happened to be my path, and it worked so well for me that I eventually decided to become a realtor too. It felt like a natural extension of something that had already given me freedom and security. But property isn’t the only answer. The real message is bigger than that. The message is: never rely on only one source of income.

After my talk, many people said to me, “I can’t afford to start,” or “The market is too expensive,” or “Everything feels out of reach.” And I always remind them that nobody starts with abundance. You start with belief. You start with discipline. You start with the courage to take one small step, even when it feels uncomfortable.

You don’t start with what you wish you had. You start with what you have. You don’t wait for perfect timing. You create momentum. You don’t aim for overnight success. You aim for progress.

And if property isn’t accessible right now, that’s okay. Find something else. Build a side business. Monetise a skill. Invest. Consult. Create something that brings in income outside of your main role. What matters is not what the stream is. What matters is that you build one.

One stream is fragile. Two streams create stability. Three streams create freedom.

This isn’t about impressing anyone. It’s about protecting yourself, your family and your future. It’s about giving yourself options. It’s about knowing that no matter what happens in the economy, your industry or the world, you have built something that supports you.

Start small. Start nervous. Start imperfect. But start with intention. Because the future belongs to people who prepare, not those who wait.

Much Love,

Margaret Hirsch