7 streams of WEALTH

They say the typical millionaire has seven income streams.

  1. Earned income. This is typically income earned from a job or self employment. The majority of people earn their income this way. You need to invest time and money to acquire the necessary skills.
  2. Capital gains. This income comes from buying and holding assets which increase in value like shares, land, property, etc.
  3. Rental income. This income comes from renting out your property or rentals/apartments.
  4. Royalty income. This typically comes from intellectual property you create like innovations, patents, designs, books, etc.
  5. Profits. These come different businesses. There are millions of potential businesses you can create.
  6. Dividends. These incomes come from holding shares in different companies which may be listed or not.
  7. Interest income. This income comes from lending other people money. It also comes from investing in fixed deposits and treasury bills.

So how many income streams do you have?

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