TYPES OF INCOME TO FOCUS FOR 2023

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Learn the various types of income you can generate and how to build multiple income streams.

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What Is Income?

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Active or Earned Income

Passive Income

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Investment Income

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Investment or Portfolio income has an upfront cost. You have to have the money to invest in a stock, mutual fund, bond, or other financial instrument.

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TYPES OF INCOME TO FOCUS FOR 2023

Learn the various types of income you can generate and how to build multiple income streams.

What Is Income?

Income is money generated through the exchange of labor, goods, and services or by investing capital.

Active or Earned Income

Any money you earn from your salary, hourly wages, tips, and sales commissions falls under the earned income category and is considered active income.

Passive Income

Typical examples are real estate passive income due to owning a rental property or investing in an apartment building.

Investment Income

Investment income is any revenue you generate when an asset appreciates and is sold for more than its purchase price.

Investment or Portfolio income has an upfront cost. You have to have the money to invest in a stock, mutual fund, bond, or other financial instrument.

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