7 INCOME STREAMS TO CREATE WEALTH

 

7 INCOME STREAMS TO CREATE WEALTH

 

EARNED INCOME

Income from a job is called earned income where you put your efforts,skills, and time on a daily basis and after a month you get salary for your work is earned income.

 

PROFIT INCOME

Income from buying and selling of any commodity is profit income. Where you have to buy something in minimum amount and sell that in the high amount the difference amount is profit.

 

INTEREST INCOME

Interest income from lending which means you have put a certain amount of cash in your bank amount and not taking it bank and the bank uses that amount for their business so they will provide you a certain percentage of your desired amount as an interest.

 

DIVIDEND INCOME

Income from owning a stock and shares company will provide you dividend which will be considered as an extra income or profit on the price of that stock mostly provided half-yearly or annually.

 

RENTAL INCOME

Getting income from renting assets you purchased a house and give it on rent every month you will get a rent which is called rent income which is also considered to be the most reliable passive income.

 

CAPITAL GAINS

Assets increasing in value over a certain period of time is capital gains like you bought a property now the value of that asset is like 100k$ now after 5 years now its value increased to 250k$ that called capital gains.

 

ROYALTY INCOME

Income from other using, your idea called royalty income. Like Somebody wants to open a franchise which is your goodwill and he wants to use your company then he has to pay a certain amount for using our name.