Hello Financial Healers,
Today’s topic is income. To build wealth, you need to understand all 3 kinds... and utilize them. Let’s go over each category now:
Active income - wages and salaries.
Passive income - assets, rent, dividends, interests, rights, and royalties.
Value gains - capital gains, like a house or investment that gains value over time.
Active income is how most people earn their living. It’s a good foundation, but hard to scale. Most people can only handle one full time job, so supplementing with passive and value gain revenue is wise.
Passive income is easy to scale and flows in, even while you sleep. Royalties and dividends arrive whether you’re in the office or not, so find ways to add more of these revenues in your life.
To utilize value gains, put money in an investment. Watch it grow. You only get taxed once you sell, so it’s a great way to protect and build wealth.
We’ll cover more about income streams in today’s coaching session. To get started, download today’s handout and illustration. Join us live at 3:30 PM (CA time).
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If you’re a premium member, hop on to our live discussion today at 3:30 PM (CA time). If you’re a free subscriber, consider upgrading so you can join us every week.
God bless your Prosperous Soul,
Stephen K. De Silva
About the author: Stephen K. De Silva is an author, speaker, and financial coach. From 1995 until 2017, he served as the CFO of Bethel Church, and a member of the senior leadership team. Stephen’s unique experience, training, and gifting make him a pioneer in the subject of money. You can reach Stephen at hello@stephenkdesilva.com
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