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HomeMoney & Wealth5 Types of Income - How to 5x your income?

5 Types of Income – How to 5x your income?

Types of Income – Do you know how to become rich? Why only few people have become rich and what is that which makes rich people rich?

The thing which makes rich people rich is their actions, their knowledge about money, the way they look at the money the action that they take. That is so different compared to the poor and middle class.

Well, you can also become rich. To become rich you need to follow what rich people are doing? What knowledge they have what actions they are taking and replicate them with your way with the process and system.

Do you know how rich people have become rich? They have become rich as they don’t rely on a single source of income. They build multiple streams of income.

The Income stream the income types that rich people know and poor do not are –

Types of Income

5 Types of Income – How to 5x your income?

#1 Active Income

Active income everybody knows. Most people have it. But what is that rich people know about active income which the poor don’t.

Rich people know that they should stay away from active income.

बहोत दूर जाना है Because active income is nothing but trading time for money.

Meaning in the Bollywood Language–  जब तक तेरे पैर चलेंगे…. उसकी सांसे चलेगी….

So it is like जब तक तुम काम करोगे तब तक पैसा आएगा…

जब तक रिक्शा चलेगी तब तक मीटर चलेगा रिक्शा रुकी मीटर रुका पैसे रुके..

This is the worst place to be in.

It is stagnant income and you cannot become rich with stagnant income. Nobody has ever become rich with stagnant income. The only way is to take a quantum leap. The quantum leap is to stay away from active income and adopt other types of income.

#2 Passive Income

Passive income is income where you don’t trade time for money. You trade value for money. It is an income stream that continues although you stop working.

How good it is that you are sleeping at the night and still you are making money? Well is it possible – Yes with passive income.

Remember what warren buffet world’s richest person says about passive income –

If you don’t find a way to make money while you sleep you will work until you die…Wow.. that is so powerful.

There are multiple ways to build passive income such as writing a book, making a video course, creating a music album, and generating royalties. Doing network marketing for passive income.

But you know that you cannot become rich only with a passive income. Hardly two or three people have become a millionaire with passive income. You need smart income to become rich and what is that?

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#3 Leverage Income

Leveraged Income is the smart income stream that is liked by rich people. This is where you do not trade time for money you do not trade value for money. But you leverage people, systems, and processes of money.

You must heard that  पैसा बनाने के लिए पैसा लगता है ……

You need money to make money. But you know what if I tell you that you don’t need money to make money.

If you need money to make money you cannot make a lot of money.

You need to learn How to make money from No money……Interesting right..!

But how to do that?

By leverage. By leveraging the system & processes.

Let me explain this by example.

There was a simple lady who had a dream to become rich. But she had no money.

She was a master at making chocolates. She wanted to start a chocolate business. But chocolate business requires a lot of money for production, packaging, branding, and distribution. Unfortunately, she was broke.

So what she did? She Leveraged…How?

She took the chocolate and thought what if I build a brand that is popular and people buy the chocolate because of my brand.

But to build a brand it may take time becuase of the physical product.

She thought how about if I borrow somebody’s brand. She went with a chocolate and pitched the idea to so many companies saying allow me to use your brand and I will give you this percentage.

A lot of people say no no… one company says yes fine. We will take this much percentage and this is the standard that you need to meet for quantity and quality. So, now she got a brand with packaging.

She took the chocolate packed into the brand and went to investors and factory owners and pitch the idea that here is chocolate backed by a brand and I need this much money for production. A lot of companies said no. One company says yes – production problem solved.

So, she leveraged the brand of others. She leveraged the money of others.

Now it comes to the problem of storage and distribution. She went to a lot of supermarkets and she tied up with them. That she will supply chocolates directly in the bulk and they will use their own facilities, retail shops and then she became a millionaire! Through the leveraged income.

खुद का पैसा डाला नहीं … That means idea can make you money.

A lot of people are stuck ये नहीं…वो नहीं

You know limitations are only in the mind an you can overcome it by any means.

You can use the system, people, and process and you can automate those things.

Yes! You can run your business in auto pilot mode and with the power of leverage income, you can easily become rich.Now let’s talk about the fourth type of income.

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#4 Money Income

The fourth income stream is money income this is where money makes you money.

  • Not trading time for money.
  • Not trading value for money.
  • Not leveraging money.
  • This is money makes you money.

Examples are stocks, bonds, property, crypto, NFT. You can make money by investing.

But you need money for that.

सबसे बड़ा प्रॉब्लम मिडिल क्लास का क्या है पैसा ही तो नहीं है इन्वेस्ट कहा से करे

So what do we do…when we don’t have money.

Well, I have ब्रह्मास्त्र. The next income stream is my favorite income stream and probably most of the millionaires they love this last income stream which is called –

#5 Brand Income

What is the meaning of brand income? It means you, your name your company name makes you money.

वो कहते है ना नाम ही काफी है – Your name makes you money.

  • No time for money
  • No value for money
  • No leverage for money
  • No money for money.
  • It is Name for Money

That means you and your company are so valuable that people pay you money just for your name.

A lot of people think that brand income is only for a big name.

No, my dear friend. You can also become a brand.

You know moneyexcel is a brand which I build and people are ready to pay money for that.

And my dear friend anybody can build a brand income. You only need 1 or 2 years to build your brand – Provided you have passion for it.

But you can only earn money with a brand if your brand is valuable.

  • How to build brand?
  • How to become valuable?
  • How to become rich?

Well, if you are excited to know more about this and want to become rich… join me.. I am going to start an online course that will help you to stay away from active income and build multiple other streams of income.

Which types of Income is liked by you most. How many stream of income you have?

Send e-mail on info@moneyexcel.com with subject line – “I want to become rich” with your email id and my team will get in touch with you to join my course.

Don’t think much act now before it is too late.

Act now! And start your journey to become rich.

And yes stay tuned and subscribe now to get latest update and happening in the financial world.

Shitanshu Kapadia
Shitanshu Kapadiahttps://moneyexcel.com/
Hi, I am Shitanshu Kapadia founder of moneyexcel.com. I have written 1750+ articles on this blog. I am PGDBA(marketing), engaged in blogging for 5 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. The purpose of this blog is to spread financial awareness and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.
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