Understanding the Different Sources of Income: Earned, Passive, and Portfolio
In today's fast-paced financial landscape, building multiple income streams isn’t just a luxury — it's a smart strategy for long-term stability and wealth. Whether you're saving for retirement, paying off debt, or simply aiming for more financial freedom, knowing the types of income can help you design a strategy that works for your goals.
There are three primary sources of income: Earned, Passive, and Portfolio. Each has its own characteristics, pros, and challenges. Let’s break them down.