Want to reach your success goals faster?

You’ll need more income.

But how do you create the income you need to reach those goals?

I’m glad you asked.

There are 3 ways to earn the income you will need, which I break down for you in this article. Just keep reading.

Need the information faster? Like right now?

GREAT!

Watch this short video:

 

So, what are the 3 types of income?

Earned Income

This is the money you earn when working for an employer. You know… when you trade your time for pay. When you are in the 9-to-5 daily work grind to receive a paycheck every two weeks. It’s when you are in the Rat Race, on the Hamster Wheel, in traffic jams and in the incredible overwhelm of life because you have to balance everything on top of working. Earning money this way can bring stability because you can count on your payment in trade for 8 to 12 hours of your life working on someone else’s dream every day, but it also happens to be the most highly taxed type of income. According to one of my mentors, Robert Kiyosaki, in this part of his “Cashflow Quadrant,” this is where you are actually the poorest, too.

Portfolio Income

This is the type of income you earn when you buy and sell stocks, or when you invest in other types of “portfolio” assets. These can be paper assets, crypto currency, stocks and bonds, or notes. In brief, you are building your portfolio of assets for the specific purpose of earning returns. This income-creation strategy can be extremely risky because you are not in control of the actions that happen in these markets, so you can’t count on a steady income from your activities. In fact, you can lose money by participating in building a portfolio of stocks and other such assets. For example, on the morning that I wrote this article, the U.S. market went down by hundreds of points. That hasn’t happened in a long time, but it happened today due in part to rising interest rates. So, you see, that’s not something within your control. If you have your money invested in U.S. stock market, you may want to take a look at your portfolio. There aren’t any significant tax benefits to this form of investing either. But don’t take my word for it; see your tax professional. He/she can help guide you. Oh, and chat with your investment broker, too, while you are at it.

Passive Income

This is my favorite! You earn passive income by putting money into buying real estate. Rather, the money you earn above your expenses in your rental properties is yours to keep. You have earned it passively, without trading your time for money, and without building a portfolio of value-fluctuating assets. Creating passive income through real estate investing has another bonus. It is in the lowest-taxed form of income. In fact, did you know that you may end up paying zero or almost-zero in taxes if you do things right. There are many incentives for property owners, especially if you employ a team to assist you. But since I’m not a tax professional, it’s best for you to meet with yours so you can get the latest information on keeping your taxes at their lowest by owning properties.

But what if you don’t want to buy and run properties?

If you would rather earn passive income without buying properties, that’s fine. You most certainly can do just that and earn great returns at the same time.

The article I published here last week was about that very topic. Click this link and I’ll take you to it:

http://bit.ly/kpcfpassiveincome

That article goes well with this one, because  once you understand the ways to earn income and then specifically learn how to earn passive income, you can literally change your life’s path  – Tweet  . In fact, I’ll go one step further and say that you’ll be changing the lives of people in your family for generations to come.

Why?

Because what you set out to do now… today… will effect on your children’s lives, the lives of their children and the lives of your children’s children. When I realized that, I set new goals as a real estate entrepreneur. I keep pushing those goals further and further out. I’m finally thinking bigger!!

It is my intent to have 300 units of property in the next 18 months. That means my company will provide housing for 300 homes for families in the U.S. while I live and work in Barcelona. That also means that I’ll be helping my investors get closer to the financial goals at the same time that I’m moving closer to my dream of living between Europe and the USA while earning a very good passive income.  This is another example of how someone’s dream combined with using other people’s money, making good decisions about properties and operating them effectively can make passive income that comes in month after month.

I’m so excited about my future that I can barely contain myself these days. As a matter of fact, today as I write this, I took a big step toward my new goal of 300 units, because my mobile home park deal closed!! I’ll produce a video about that adventure soon. Stay tuned!

 

For now I want to leave you with a question:

Of the types of income I shared with you in this article, which is the most interesting to you and why?

Let me know in the comments below my video or send me your answer here:

contactbutton