Earned Income
Working for your income is the first rung on the financial education ladder. It requires very little financial understanding and usually requires 40 hours/week. People who spend their life focused on working for their income limit themselves simply because there is only 24 hours in a day and you can only be in one place at a time.The poor work to earn an income, which they spend completely on expenses. Where as the middle class work for their income, which covers their expenses, liabilities (mortgage, car, ect.), and retirement savings(portfolio). If you truly want to become wealthy, you need assets. You must invest more time into increasing your understanding and ability. This will lead you to the other forms of income...
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