Tuesday, 2 August 2016

What Are The 3 Types of Income To Create Wealth And Personal Freedom

What Are The 3 Types of Income To Create Wealth And Personal Freedom

The “usual” type of income that most people have is an active income. That can help you to pay for your monthly bills, afford your means and hopefully, give you some extra to spend on leisure.
But if you truly desire to create wealth, you need to start building 3 of the income streams below, as quickly as today…
  • Passive Income. I’m sure you have heard of this term very frequently. Basically, a passive income is where you’re making money even when you’re not doing anything. The most common quote for it is, “making money while you sleep”. Like your boss, he’s making passive income while you are working from 9 to 5 for him.
  • Leverage Income. I can confidently tell you that ALL wealthy people in this world use leverage to build wealth. In the later part of this letter, you’ll understand further about leverage but for now, let me explain what it is – small effort but huge return.
  • Massive Income. The third income type that will help you to achieve financial freedom is by building an income that can generate massive income.
You see, many systems in this world can help you to build a passive income and a leverage income, but not all of them have the luxury of creating a massive income for you.

Here’s an example…

Assuming you open up a café and it’s doing well. It makes a passive income for you because even if you’re not in the café, your staff are working for you there.

And it’s a leverage income because your work is very minimal (as you’re leveraging on your staff and your premise).

But it can never give you massive income because your income is restricted to the amount of tables you have in the café and the manpower in there. Of course, the café idea is rather a bad option because it can be costly for you to set it up.

If none of your daily activities are contributing to either building a passive income, a leverage income or a massive income, then you should start evaluating what you’re doing every day when it comes to ensuring your financial future.

So how does an ordinary person still have the unfair advantage of building these 3 types of income streams without much funds and experience to start with?

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