Income

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.

More posts about this topic continue below…