HOW MANY SOURCES DO YOU HAVE RIGHT NOW?💰
What is up, Curious Investors!
I’m pretty sure most of you have at least one income source, and it is likely that is the Earned Income!
Now, there is nothing wrong with Earned Income. On the contrary. If you work a job and are able to save money each month, then that is great! Especially if you truly enjoy what you do during your job😊
But… as Warren Buffett once wisely said: “If you do not find a way to make money while you sleep, you will work until you die.”
If you want to be able to retire comfortably, you will have to create additional streams of income!
For example, by starting your own business. Profit Income is money you receive by buying something and then reselling it at a higher price, for example!
Interest Income comes from buying a bond and collecting annual interest payments or from loaning people money and receiving interest that way.
Rental Income would be the cash flows coming from a person living in a property you own, for example!
Capital gains are my favourite, obviously😉 These are the profits you make when selling a stock at a higher price than you have bought it!
Dividend Income is a very easy way of creating an additional cash flow. Many companies will distribute a part of their earnings back to shareholders in the form of dividends!
And finally, Royalty Income, is the income you get from people using your ideas or intellectual property. If you write a book, the published will receive money on every copy sold, but you as the author as well of course!
Credits go to @bddmentors for the original post idea!
Hope you liked it and as always,
❤️ - Robert
2,0124518 January, 2019
It helps to speak the language, some of these I use daily...others I rarely have a reason to use. Still good to know!
- #repost from @stefanaarnio arnio
1,010109 hours ago
This is some real shit!
1,163329 hours ago
Successful entrepreneurs are playing a game that they love and they make sure that it stays fun. They exude a level of vitality for what they do and because they love it, they get good at it.
"It is a happy talent to know how to play." -Ralph Waldo Emerson
Beneath your desire to have a great home, nice wardrobe and some money in the bank, is a part of you that longs to make a difference. Getting in touch with this core part of you will give you an ongoing broadband connection to your vitality.
Sometimes we watch others on social media like we’re watching a movie but don’t take action in our own lives 🤷🏼♀️
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