What Are The 3 Types Of Income You Can Earn?
There are 3 types of income you can earn. There are 3 separate categories, and only 1 can set you free. It comes down to time and money freedom.
Most people either have lots of money and little free time, or lots of free time and little money. Having both time freedom and money freedom is rare.
It’s rare because people spend their entire lives trying to work harder and harder in a job, for a boss they don’t like, and never manage to get ahead. They think working harder on their job is the answer, but they’re barking up the wrong tree! If instead they focused their hard work (even in their spare time) on a different type of income they could probably have retired years, even decades, before they did.
And then there are the rich. They seemingly have it all. They have abundant cash, and spare time with which to enjoy it. They usually have an ongoing source of income that pays for their lifestyle without them having to go to work.
So What Makes The Difference?
The real secret of the rich is that one source of income isn’t really more difficult to build up than another. It all comes down to where you focus your time and effort.
1. The first type of income is The One Time Sale, or contract/freelance work. You complete the job for the client and get paid. It’s not a regular job, and you need to line up many different clients in order to make a good living. This is usually the income of the self-employed worker.
2. Linear Income. If you work in a job this is your income-type. You get paid if you’re there working, and the money stops if you decide not to turn up. Even if you are in a very high-paying job, you still only get paid when you are actually working. This type of income is actually the least secure of them all because you are not in control. The company can get rid of any employees at any time, leaving you stranded with no source of income.
A rich person would never put up with such a lack of control, which is why they choose option 3.
3. Residual Income. Residual income is the most powerful of the 3 income types. “Residual income” means you will continue to get paid long after you stop working, which gives you the power to greatly increase your free time, or focus on sky-rocketing your earnings. Or both!
An example of residual income would be books sales for an author, or rent payments for a landlord, or profits from a self-running business.
It seems like residual income is out of reach for most people, unless they have super talents to write bestselling books or invest heavily in property, or hire staff.
But with the many legitimate home businesses now offering residual income opportunities, like COMPANY XYZ, it no longer makes sense to remain stuck in a job you hate.
Do the work one time, get paid repeatedly. Claim the royalty payments your home business can generate!
And the best part is, with a home business, you get to work as part of an existing team and follow successful advice. So you’re not left to figure things out for yourself.
Mix your income sources, and learn the lessons of the rich!
“I have known Moon Loh for about one year now. When I first saw her Mompreneur Asia website, I was very impressed. She is really someone I admire very much. From an ordinary housewife to becoming one of the top internet marketers in Asia, she had proven that anyone can make money online. She is also very down to earth and willing to share her knowledge and skills with others. I am glad to have the privilege to work with Moon.” - Ket Sang Tai
“Moon Loh is one of the most dedicated professionals through her work at Mompreneur. Insightful person. Customer focused, self motivated, highly organized and brilliant perfectionist, has no problem to work hard when necessary. Responsible co-worker. For Moon Loh the job is always the most important thing to do. I can highly recommend working with her especially in the area of Internet Marketing” - Andrew Chow
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“I must say that Moon shared her secrets with us generously. Mostly importantly, she walk her talk. She shared with us what really worked and that we can apply immediately, and not some Internet Marketing theories or concepts. If you are looking for a true mentor in Internet Marketing, I would highly recommend Moon.” - Ding Neng
“It has been my pleasure to work with Moon Loh since last year. She has consistency and integrity in her work. She shares her knowledge in internet and network marketing generously. I would definitely recommend Moon Loh without hesitation” - Viviana Andrew
“It is really my privilege to know you – A Mompreneur. You have inspired me much because you started from knowing nothing about internet marketing to one of the internet network marketing coaches! Thank you for all the tips you have shared with me!” - Valerie Chan
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