The 7 sources of income are popular sources of money for those looking to build wealth and achieve financial freedom. These income streams include:

  1. Capital Gains From Appreciated Assets: This is income generated from selling a capital asset (e.g. stocks, bonds, real estate, etc.) for more than its original purchase price.

  2. Dividend Income: Dividend income is income received from owning stocks or mutual funds. These dividends are typically paid quarterly or yearly.

  3. Interest Payments: Interest payments are payments made to you for lending money to someone else. This can be done through savings accounts, certificates of deposit, or other investments.

  4. Rental Income: Rental income is the income that comes from renting out a property such as a house, apartment, or commercial space.

  5. Business Income: Business income is money earned through operating a business. This includes income from sales, services, or products.

  6. Earned Income: Earned income is income received from working, either as an employee or a freelancer. This includes wages, salaries, tips, and commissions.

  7. Royalties and Selling Rights: Royalties and selling rights are payments made to the creator of a work or invention. This includes royalties from books, music, and other creative works, as well as payments for the sale of patents and other intellectual property.

These 7 sources of income are popular among those looking to build long-term wealth, as they provide a variety of ways to generate money. It’s important to remember that all investments come with some risk, so it’s important to do your research and make informed decisions when investing.