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7 Different Types Of Income Streams For You!
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Preface:
We all need more than 1 income stream.
This is non-negotiable.
You never know when tragedy may strike and you're left without any income.
Build another stream, or 2, or 3.
The more the better.
We all need more than 1 income stream.
This is non-negotiable.
You never know when tragedy may strike and you're left without any income.
Build another stream, or 2, or 3.
The more the better.
Stream 1: Active/Earned Income
Otherwise known as your â9-5â.
You may be an;
-Accountant
-Mechanic
-Therapist
-Doctor
This is the income you receive for exchanging your labour and time, in return for monetary gain.
Can be Wages/Salary.
Otherwise known as your â9-5â.
You may be an;
-Accountant
-Mechanic
-Therapist
-Doctor
This is the income you receive for exchanging your labour and time, in return for monetary gain.
Can be Wages/Salary.
Stream 2: Passive Income
This is where money works for you, even when you're asleep.
You put some effort in initially and reap the benefits without actively working.
- Courses
- eBooks
- Webinars
- Blogs
- Affiliate (easiest one)
This is where money works for you, even when you're asleep.
You put some effort in initially and reap the benefits without actively working.
- Courses
- eBooks
- Webinars
- Blogs
- Affiliate (easiest one)
3. Rental Income
This is also a form of passive income, but it deserves its section.
This is the money you receive as a âlandlordâ at the end of the month when your âtenantâ pays you.
E.g. $500 per month per room for a 2 bedroom = $1000 p/m.
This is also a form of passive income, but it deserves its section.
This is the money you receive as a âlandlordâ at the end of the month when your âtenantâ pays you.
E.g. $500 per month per room for a 2 bedroom = $1000 p/m.
4. Dividend Income
Again, another form of passive income which deserves its own section.
When you own a share of a dividend-paying stock, the company will pay you for owning the stock.
E.g. I own 1000 shares of Coca-Cola at a $0.42 dividend per share.
Again, another form of passive income which deserves its own section.
When you own a share of a dividend-paying stock, the company will pay you for owning the stock.
E.g. I own 1000 shares of Coca-Cola at a $0.42 dividend per share.
5. Capital Gains
If I own an asset, this could be stocks, cryptocurrency, or real estate for example, and it goes up in value, that's capital gains.
E.g. I bought a house for $250k, it is now worth $500k 10 years later.
That's $250k gained pre-tax.
If I own an asset, this could be stocks, cryptocurrency, or real estate for example, and it goes up in value, that's capital gains.
E.g. I bought a house for $250k, it is now worth $500k 10 years later.
That's $250k gained pre-tax.
6. Interest/Staking
This is the money you receive for leaving your capital in a bank account.
Usually a very low % (1%).
You can also stake Crypto, which means holding Crypto in a wallet and receive a % for it.
This is the money you receive for leaving your capital in a bank account.
Usually a very low % (1%).
You can also stake Crypto, which means holding Crypto in a wallet and receive a % for it.
7. Royalty Income
This is income received for allowing another individual or company to use your intellectual property.
The best example I can give is when your favorite musician releases a song and someone else plays it.
They receive money each time.
This is income received for allowing another individual or company to use your intellectual property.
The best example I can give is when your favorite musician releases a song and someone else plays it.
They receive money each time.
Final Thoughts:
I tweet about this and write quite frequently on the importance of >1 income stream.
You don't need 6-7 at once, but at least start with building another one.
It provides peace of mind in case of an emergency.
Read below for ideas
I tweet about this and write quite frequently on the importance of >1 income stream.
You don't need 6-7 at once, but at least start with building another one.
It provides peace of mind in case of an emergency.
Read below for ideas
If you would like to build another income stream, I have 2 you can begin right now (Aff.)
@TheFBAInvestor has his gigantic course on sale for only $39.
With a $200 giveaway.
Includes 3 courses in 1.
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@TheFBAInvestor has his gigantic course on sale for only $39.
With a $200 giveaway.
Includes 3 courses in 1.
LIMITED TIME ONLY https://gumroad.com/a/772543603/jumDD
Or, you can begin affiliate marketing if you already have a Twitter Account.
@HustlingForever Affiliate Marketing course will teach you how to make money online starting today.
Over 129+
reviews. https://gumroad.com/a/43783283
@HustlingForever Affiliate Marketing course will teach you how to make money online starting today.
Over 129+
reviews. https://gumroad.com/a/43783283
