Guide on the 7 Income Sources That Millionaires Most Likely Have
INCOME SOURCES – Here is a list of seven(7) sources of money that millionaires are believed to have.
Undeniably, most people wanted to become wealthy. Most of this people are not actually into material things like buying everything but to be able to give their loved ones a comfortable life.
Some people were successful at uplifting their status by their chosen career. They work hard and educate themselves until they become experts in their field.
To some people, they found their success in putting up businesses and doing investments. This part requires a huge risk but if it will work out, a huge gain may also await.
Based on a social media post on the Facebook page The Global Filipino Investors, there are seven(7) income sources that millionaires are believed to have.
Do you want to know what are they?
1. Earned Income
This refers to the money that you are earning from work everyday or your salary.
2. Profit Income
The Profit Income refers to the amount you earn from selling a thing which the materials and the process of making it requires lesser amount compared to its selling price.
3. Interest Income
This refers to the money you get from lending your money to others or the interest amount.
4. Dividend Income
The Dividend Income comes from the money you get from investing into stock companies.
5. Rental Income
If you have some assets or properties and you open rental services over them, you may earn some amount and this is what we call “Rental Income”.
6. Capital Gains
Based on the post, this is the money that you can get because of the increase on the price of your asset. For example, you bought a house and lot for Php 1-million and, after five years, the property can be sold at Php 3-million.
7. Royalty Income
This is the money you get from your ideas or products. For example, you came up with a very delicious dish and it hooked people. You may open franchising offers and let people who are interested in joining your team pay for Royalty Fee.