Different types of income

today the topic is Different types of income. Every person dream is to be a rich,but some of them hustle and remaining stays as they are. the income is the earning of the specific person working money or a individual person earning for his work. the income is not referred to that money which the person gets without working, example like lottery or any gambling games. most of people expense money to the needs or put the money in liabilities, may get loss of money after that expense.

So back to the topic, There is Ain't only one income from where you get money by doing work. there are more possibilities, more sources of income.
so lets go.....!

There are 3 types of income:-

1. Active income (earned income) :- The active income or earned income is the money that you get by doing active work or physically work, by doing the work your presence is necessary to the working. like professional, he only earn money when he do the work.

example :-
i. Employee get salary
ii. Professional (doctor, lawyer, engineer)
iii. Labours/workers get wages
iv. Bonuses etc...

2. Passive income:- passive income is income that give you cash flow regularly without doing any work or effort. like a professional (lawyer, doctors,engineers) they only paid for thier work if they not do work they won't get any income,. but an "Entrepreneur" developes a method for his buisness that he can go for his holiday but he generates regular income. its also called as recurring revenue model.

Example:-

i. Rent a property
ii. buisness
iii. LIC agent
iv. silent business partner
v. Writing blogs (by putting ads)
vi. Youtuber(by approve adsense on it)
vii. develop a smartphone app

3. Portfolio Income:- Portfolio income is different from passive income and active income. portfolio income is a investment  on securities, Stocks, bonds etc returns include, dividends, interest, capital gains and Returns on the investment basis.

Examples:-
i. Stocks
ii. Mutual funds
iii. funds
iv. policies
v. Shares

So the 3 ways of income might gives you financial knowledge. hopes you implement this technique in your life. Now its depend on you. Still staying on one income or getting this techniques for getting rich...

comment below..... :-D