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 Different Types of Incomes        
The Four Steps To Financial Freedom - Sean Toh
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Step1 - The road to financial freedom is to have great health so that you are in good shape to learn.

 

Step 2 - An open mindset to start learning and practicing what you have learned.
Step 3 - Investing your time in your financial & health education so that you are in control of your life to create wealth to enjoy a better life.

 
Step 4 - Enjoy the wealth that you have created because you have been taking care of your health.

Choose To Be Rich

    

   

   

   
 

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There are three types of income:

EARNED INCOME

This includes income derived, generally, from a job or some form or labor. In its most common form, it is income from a paycheck. It is also the highest-taxed income, so it is the hardest income with which to build wealth. When you say to a child, "Get a good job" you are advising them to work for earned income.

PASSIVE INCOME

This is income that is, generally, derived from real estate. It can also be income derived from royalties from patents or license agreements. In approximately 80% of passive income scenarios, the income is from real estate. There are many tax advantages afforded with real estate investments.

PORTFOLIO INCOME

This income is generally derived from paper assets such as stocks, bonds and mutual funds. Portfolio income is, by far, the most popular form of investment income simply because paper assets are so much easier to manage and maintain than other types of investments.

By Robert T. Kiyosaki

   
 

 

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