Choosing the Business That’s Right for You: Types of Income
Most people who want to start a business are looking to increase their wealth. There are three types of income that can be made when you are diversifying your wealth. These types are earned, investment, and passive income. It would be wise to have a good mix of these to round out your wealth portfolio.
Earned income is exactly as it sounds. It is money that is earned from actively working. An example of this is the hourly employee. This person is paid for the hours they work “on the clock.” The second type of income is investment income. An example would be your investment portfolio, where money is made from the sale, interest or dividend that is generated from stocks and bonds. The final type of income is passive income. What I mean by passive income is money that is made with minimal sustained effort on your part. Another word for passive income is residual income. These types of income can include rent, e-book sales, and some Internet businesses.
Some businesses offer the opportunity for more than one type of income to be earned at the same time. One such business that has multiple ways to wealth is a company of which I am an affiliate—SFI. SFI stand for Strong Future International and has been around since 1998. It began modestly with one product and a limited reach (available only in the United States). Today there are thousands of products and affiliates working all over the globe. Over the course of the next articles, I will share what I have learned about this company and what I see for my future and yours, as well.
So join me on
this journey, and let’s explore what SFI has to offer—together.
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