Today while i was teaching one of my student, i read some of my favorite writer's book talk about financial freedom. I learn something valueable that say our income is come from 3 resources. This three type of income can determine us whether we will become rich or poor. Anyway let go direct to the point :-p.
The first income is:
Earned income where you work for money. It is the income that comes in the form of a paycheck or what we earn every month. It is also the type of income you ask for more of when you ask for a raise, bonus, overtime, commissions and tips.
The second income is:
Portfolio income, is generally income from paper assets such as stocks, bonds, and mutual funds. The vast majority of all retirement accounts are counting on portfolio income in the future.
The last income that state from the book is:
Passive income where it is generally income from real estate. It can also be royalty income from patents or for use of your intellectual propety such as songs, books or other objects of intellectual value.
Source- Retire young retire rich (Rich Dad)
The first income is:
Earned income where you work for money. It is the income that comes in the form of a paycheck or what we earn every month. It is also the type of income you ask for more of when you ask for a raise, bonus, overtime, commissions and tips.
The second income is:
Portfolio income, is generally income from paper assets such as stocks, bonds, and mutual funds. The vast majority of all retirement accounts are counting on portfolio income in the future.
The last income that state from the book is:
Passive income where it is generally income from real estate. It can also be royalty income from patents or for use of your intellectual propety such as songs, books or other objects of intellectual value.
Source- Retire young retire rich (Rich Dad)
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