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
Who recognizes the name?🤔🤔 Understand the principle behind theses words and apply it and you will be well off financially!!
Learn to invest by yourself, it's simple but not easy! But you CAN do it. Don't let the system tell you that it's to hard for you to do by yourself... They want your money!
DM If you want good book recommendations to read if you are interested in Value Investing or any questions!!
@invested_life on a journey! 📸 @InvestingSimple