The Three Types of Income
by The three types of income are passive, active, and portfolio income. All are important while 90% of the people who make 10% of the money will focus on just one.
So with passive income you make money no matter what you do. You can go to the beach, stay home and watch TV, or even buy a jet if your really good, and you still make money regardless. So a simple definition of passive income I like to use that I heard is. “You make money whether you get out of bed of not.” I love this quote because it gives you freedom. So when you have enough passive income that it exceeds all of your expenses or bills, you will be financially free and out of the endless cycle. If you have even more on to that you’ll be rich and be able buy that jet. The sad part is that only 10% of people in the richest country, only about 10% earns this income on a daily basis in tremendous amounts. So the question is. Do you want to be part of the 10% and get out of “The Endless Cycle” and be rich and have tax breaks and maybe even live tax FREE? If the answer is yes then I’d recommend you get passive income and get people to work for you.
Invest in assets that will all give you that magical income. (I talk about assets more in other articles.) The last type of income I am gong to talk about is the last but not least portfolio income. I am not going to spend much time on this one. When I looked up portfolio income I saw the definition “paper assets” written down. Well that does not give much sustenance. So after a while of searching I found out that portfolio income is income made from stocks bonds and mutual funds and CDs of a business. In which you can buy stocks in any number and hold it until the market value of your stocks goes up and you sell. While there are countless other strategies, that is the most common one. I would talk more on the subject of portfolio income but I feel that giving a short definition is good for I feel I already got the most incomes out of the way
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