Income is simply the amount of money coming in or how much you get paid. Obviously this is a critical component of the millionaire map as you can’t grow your net worth without a positive cash flow. A successful financial plan requires you to consistently earn more money than you spend. As your earnings rise, the amount possible to save, invest, give, or spend increases accordingly.
There are two basic ways to bring in money:
1. Active work
2. Passive income
Neither one is right or wrong, and most people will need both over the course of their life.
So, you want to be financially independent, whatever that means. You want financial freedom. Basically, you don’t want to work 8-5 until you die. If you want freedom, then you need an income.Keep Reading
One of the main reasons I started Wise Money Home was to help people get a grip on their finances. For so many people, it is money controlling their life rather than them controlling their money.Keep Reading