SELECT * FROM DAFc WHERE DAFc="UCJWMnpXcsxylf9rLgZY9O1g"
THE POOR AND THE MIDDLE CLASS WORK FOR MONEY,THE RICH HAVE MONEY WORK FOR THEM-#rich DAD #thoughts
· 09.06.2023 · 17:35:00 ··· Freitag ⭐ 0 🎬 0
📺 Motivation & Finance
THE POOR AND THE MIDDLE CLASS WORK FOR MONEY,THE RICH HAVE MONEY WORK FOR THEM-RICH DAD
Three types of income: earned income, passive income, and portfolio income.
1. Earned Income: Earned income refers to the income you receive in exchange for your active participation or work. It is the most common type of income and is typically generated through employment or self-employment. Examples of earned income include salaries, wages, tips, commissions, and bonuses. When you work for an employer or operate your own business, the income you earn from your efforts is considered earned income. This income is usually subject to payroll taxes, such as Social Security and Medicare taxes.
2. Passive Income: Passive income is income generated from activities in which you are not actively involved on a regular basis. It involves earning money with minimal effort or direct involvement once the initial setup is done. Passive income streams can come from various sources, such as rental properties, real estate investments, royalties from intellectual property, dividends from stocks, or income from peer-to-peer lending. Passive income provides a means to generate income even when you're not actively working, and it can contribute to financial independence and wealth accumulation.
3. Portfolio Income: Portfolio income refers to income generated from investments in financial assets, such as stocks, bonds, mutual funds, or exchange-traded funds (ETFs). It is derived from capital appreciation, dividends, or interest earned from these investments. When you buy and sell investments with the intent of making a profit, any gains realized from those transactions are considered portfolio income. This type of income is based on the performance of your investment portfolio and can vary depending on market conditions. Portfolio income is often subject to capital gains taxes, which are generally lower for long-term investments held for more than a year.
· 09.06.2023 · 17:35:00 ··· Freitag
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