Smart Finance: 3 Types of Income You Should Have

It is crucial for individuals to have multiple streams of income to feel secure and wealthy.

A successful entrepreneur knows that they need to have multiple streams of income. It is important to have a diverse portfolio of different types of income. The entrepreneur should strive for long-term financial freedom.

There are 3 ways to make money:

1. Active income

• Salaries
• Wages
• Commissions
• Bonus
• Services

2. Passive Income

• Business
• Royalties
• Rental
• Affiliate Marketing

3. Portfolio Income

• Capital Gains
• Shares
• Stocks
• Collectibles