Different Types Income

Today, I would like to talk about income as well as the different types of income. Often you may hear the terms passive income or residual income. Whether it’s passive, residual, active, earned, capital, profit, rental, royalty, interest or dividend income. For most of us it’s about having something coming in (financially speaking) from somewhere and this is what we call income. Not only will we discuss the different types of income but also the many different ways to earn multiple sources of income and just how much you may need to invest in order to get started. The “cost to be your own Boss”. Before we begin we need to ask ourselves a few questions, the first being what is income and the second being what are the different types of income. Investopedia defines income as money (or some equivalent value) that an individual or business receives in exchange…

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