In this episode, you will learn about:
- Why passive income is essential for a financially stable future.
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The work we do, and the income we receive can be broadly categorized into two forms:
Active Income Passive Income
Active income is a form of income that you receive through direct application of efforts; you need to show up, get up, and be involved directly to get paid for your services.
Passive income, on the other hand, is income received regularly that may not require any direct application of further efforts after some initial input.
I have four reasons that I want to share with you, and hopefully, you too will start working on your passive income:
1. Time Investment
2. Efforts Required
3. Income Potential
4. Tax Advantage