The Three Types of Income
Dan Chan
Are you interested in gaining a great deal of wealth? But even more, there is a better way. There is a freedom that can be gained, by opening our eyes to the way we make income. It will take transitioning from an everyday method of making income, to a better way of making income.
Why would you want to and trade your day for a dollar, when you can make money in your sleep? It's a different game that you are playing, and you make the rules. The fact is that there is more than one way to make a dollar. You have to be savvy and willing to recognize the three ways that you can earn money.
First thing you need to do is learn what the three types of income are. They are Linear Income, Leveraged Income & Passive Residual Income. Let's take a look at each one in detail:
Income Type #1 or Linear Income is money you make only one time. It is most often generated by working at a job. When you work, you get paid. When you do not work, you do not get paid. It is pretty straight forward. The majority of people survive using this first type of income, and have no choice but to work until social security kicks in.
Income Type #2 or Leveraged Income is a little better than Linear Income, but still the optimum way to make money. This is because your income is based on the efforts of those who earn linear income. A good example is a small business owner with employees. Leveraged income does not offer true security, because linear income employees can quit, find a higher paying job, or even become your competition.
Income Type #3 or Passive Residual Income is the holy grail of income. It is income that allows ordinary people to achieve extraordinary success. Especially in home based business, where every distributor has the same opportunity to succeed. Anyone who will apply themselves can earn as much money as they like. There is a level playing field, and you can make money off of the efforts of others. Another feature of passive residual income is that you often see income flowing from repeat purchases of a consumable product. XanGo, the juice drink product, is a perfect example. People you sign-up will sign up other people, and a chain reaction begins. You make money off of everyone that orders new product in the down line.
Think for minute. What income type is best for your finances? I like the passive residual income because you don't just get paid once, but you get paid from now on. What is not to like about that? This doesn't mean that you don't work; it just gives you the freedom to choose.
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