The Secret to Building Wealth with Minimum Efforts

The Secret to Building Wealth with Minimum Efforts

There is no such thing like easy money. But there is definitely a think like smart money. In this article we will discuss the smart way of making money and in turn finding out the smartest way. Wouldn’t you like to earn more without having to devote too much time and effort? Investing is one way of the prime ways of earning wealth, and all investors want to use their money to make more money. There are thousands of potential investments you could make over the course of your investing career, and overall, they would generate three kinds of income:

1. Earned (Active) Income

This is the income generated by working. This includes salary, wages, any contract work, bonuses, etc. It is the most common mechanism of making money. In this method you put invest your service to get returns as salary. However, the downside is that once you stop working, you stop making money

2. Portfolio Income

Any income generated by selling an investment at a higher price than your buying price is called portfolio income. This can include stocks, mutual funds, bonds, interest, real estate, gold, etc.

3. Passive Income

This includes money you earn from assets you have either created or purchased. For instance, rental income, direct selling, creating or selling intellectual property, etc.
Passive income is always considered the key to building wealth over time. Once you have an investment that generates a recurring income without requiring much time or effort on your part, you are on the path to riches. Plus, you don’t have to do much to maintain it and time is not a limitation.
By |2019-02-07T14:19:12+00:00December 3rd, 2017|Blog, Hops, News|