Most of rich people have at least seven sources of income:

Most of rich people have at least seven sources of income:

1. Earned Income
This one is easy to understand, this is your regular job and most of people’s primary source of income. it could be full time job that require a certain number of hours to be met or a standard of output to be produce.

2. Business Income
Business income is when you earn money in exchange for a products or services. this provide a great mix to your multiple income because it builds your wealth faster and in larger increments.

3. Interest income
You earn this type of income when you lend your money out. some common example include certificate of deposit, real estate crowdfunding, interest from a bank account.

4. Dividend income
Considered as one of many income generating assets, dividend income is something you earn as a result of owning shares of a company. investing in stocks is a very popular form of dividend income.

5. Rental income
This is when you invest in form of real estate or rent it out to someone else. it could either be an apartment complex which you rent out to tenants or a commercial real estate building which other business owners rent out for their own respective business.

Passive income ideas for building wealth

1. Selling information products
One popular strategy for passive income is establishing an information products, such as an ebook, audio or video course. the course can be distributed and sold through site such as Udemy, Skillshare.

2. Rental Income
Investing in rental properties is an effective way to earn passive income. but it often require more work than people expect.

3. Affiliate marketing
With affiliate marketing, website owners, social media or bloggers promote a third party’s product by including a link to the products on their site or social media account.

4. Flip retail products
Take advantage of online sales platforms such as ebay or amazon, and sell products that you find at cut-rate prices else where. you’ll arbitrage the difference in your purchase and sale prices, and may be able to following of individuals who track your deals