There seems to be a general distrust whenever the concept of multiple income streams is written about. This in part is due to a lack of understanding of what it means as well as an association in people’s mind between multi-level marketing MLM and multiple income streams.
Let me state unequivocally that I’m no proponent of multi-level marketing and whilst I have training as a marketer and have dabbled in a few MLM business ventures I was not among the fortunate ones to have made any money in any of my ventures. I write about the topic to bring clarity to the skeptics as well as to educate those who might find this kind of information worthwhile.
I will declare that my current interest is in the field of financial planning, insurance and investing. I am associated with the World Financial Group (WFG) and much of what I share can be gleaned from the numerous training seminars that are offered.
The following are the eight income streams :
Earned income – income from a job
Profit income – income from buying and selling
Interest income – income from lending money
Residual income – income that continues to be earned after work is done
Dividend income – income from owning stocks
Rental income – income from property rental
Capital gains – income from increasing asset value
Royalty income – income from using your ideas
My advise, forget streaming videos and have a desire to create as many income streams as possible.
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