Different Types of Income [Three Common Ones To Master]
Just like it’s important to diversify your investments, it’s important to diversify income streams.
Why Different Types of Income Matter
1. Earned Income
Three Common Types of Income
It’s relatively easy to get started with
You will need to exchange your time for money
2. Passive Income
You are no longer exchanging time for money.
You will need to put in a lot of upfront work to create this.
It won’t require so much work
This kind of income does require some knowledge
3. Capital Gains Income
You will receive a recurring income every month
It requires a significant amount of upfront investment.
Other Types of Income
Reasons to Start Saving Money Now
The obvious advantages are you potentially are getting a ton of cash and assets for doing little to no work.
The best thing you can do is master the different types of income and find ways to increase your income streams beyond just your job.
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