FINANCIAL FREEDOM COUNTDOWN
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.
Any money you earn from your salary, hourly wages, tips, and sales commissions falls under the earned income category and is considered active income.
Typical examples are
real estate passive income
due to owning a rental property or
investing in an apartment building.
Investment income is any revenue you generate when an
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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