7 Best Streams of Income: Your Path to Becoming A Millionaire

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Have you ever heard or read somewhere that the average millionaire has 7 streams of income?

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It’s one of the more common statements when it comes to accumulating wealth and how wealthy individuals reached this status.

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Passive And Active Income Streams

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What Are The 7 Streams of Income?

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Earned income could be based on an hourly rate alongside bonuses, commissions and more. This remains the same whether you are employed or self-employed.

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These are otherwise known as your side hustles, and may be made up from just one source or could be multiple.

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3. Interest Income

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7 Best Streams of Income: Your Path to Becoming A Millionaire

Have you ever heard or read somewhere that the average millionaire has 7 streams of income?

It’s one of the more common statements when it comes to accumulating wealth and how wealthy individuals reached this status.

Passive And Active Income Streams

When you begin exploring the 7 income streams, you’ll find that these will follow into two types, active and passive.

What Are The 7 Streams of Income?

Earned income could be based on an hourly rate alongside bonuses, commissions and more. This remains the same whether you are employed or self-employed.

1. Earned Income

These are otherwise known as your side hustles, and may be made up from just one source or could be multiple.

2. Business Income

3. Interest Income

Find out your interest rate by checking your bank statements. If you have funded any loans, you are also likely to be eligible for interest as the principal amount is repaid.

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