In today's world,money plays a very important role in people's lives. But very few people REALLY understand money. WHICH INCOME WILL YOU PREFER-PASSIVE or ACTIVE?
The concept of what making money means is not taught in schools and universities.
Did you know that there are two kinds of income-ACTIVE and PASSIVE?Most people are familiar with active income.
This is what we make when we exchange our time for money. You could be a doctor,an employee or even a small time business owner.They make money as long as they work.
This income depends on the number of hours you can work.
No one can replace you.As a doctor,I have felt this time and again.
Whenever I have been unwell or away on important assignments, my ACTIVE income has stopped!
But what about PASSIVE INCOME?
The definition of traditional passive income is "income generated with minimal work from your investments such as interest, dividends, or real estate rentals".
Passive income is defined as income you generate without actually being involved in the actions that generate the income. In other words, it does not require your direct involvement. You can be sick, go on vacation, and still generate income, as the income will not stop just because you’re not there!
Passive income will allow you to multiply your revenue without having to multiply your work.
Your Guide to Success in Network Marketing
The secret of success in life is for a man to be ready for his opportunity when it comes."
-- Benjamin Disraeli, statesman
Sunday, July 15, 2007
The Concept of Two Kinds of Income
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Your own resolution to succeed is more important than any other one thing."
-- Abraham Lincoln, 16th U.S. president
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