Thousands of studies have been conducted on millionaires — they are examined very carefully, literally “under a magnifying glass”, in order to reveal all the secrets of their financial well-being.
And this is what scientists managed to find out.
It turns out that millionaires — unlike ordinary people — do not focus on one source of income (such as the salary they receive).
They always have many different “cash flows”, the most important of which we will talk to you about in today’s article.
These sources of income are available to each of us.
To create them, you won’t need millions of investments at all.
Everything is much simpler and more real.
Although there is no doubt that you will still have to work hard to “materialize” them as quickly as possible.
So, here are the 7 main “cash flows” of millionaires:
1) Labor income
It comes from exchanging your time for money — when you receive money for doing something.
Ordinary citizens usually call it “salary.”
In the case of millionaires, this could be a salary for serving as CEO (or some other high-ranking executive position).
2) Investment income
Investment income comes in the form of dividends from shares of the largest companies purchased on the stock market, coupons from bonds, etc.
3) Rental income
Income from renting out your movable and immovable property.
The amount of rent depends greatly on the effort put in.
For example: You can rent out the premises for an office, or you can turn it into a popular hotel (with a lot of creative additional services).
4) Royalty income
Most often this looks like royalties, remuneration for inventions and patents made.
5) Capital gains
This is speculative income received in the form of the difference between the purchase and sale prices of any property, securities and other assets.
6) Net profit from your own business
The owner (or co-owner) receives a portion of the profits earned by his company.
7) Interest income
This is the most boring type of income — in the form of interest on bank deposits.
Yes, not all millionaires have all these 7 sources of income at once.
But most of them have at least 3 different “cash flows” that consistently bring money into their pocket.
Therefore, if you also want to become rich, then you should understand how you can make your money work for you.
How many of the 7 sources of income mentioned above do you currently have?
And which one will you take on in the near future?
Write in the comments!