Active & Passive Income
Active income refers to income
received from performing a service such as wages, tips, salaries, commissions,
and income from businesses in which there is material participation. For
example, an accountant who works for a monthly paycheck receives active income.
Passive income can be defined as money
being earned regularly with little or no effort on the part of the recipient.
It is described as a financial autopilot whereby you spent some time to build
it up, once it is completely built it starts paying you. Watch the complete session by clicking
on the YouTube channel icon on top right.
Prefer watching instead of reading!
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| Active & Passive Income |
Active income refers to income received from performing a service such as wages, tips, salaries, commissions, and income from businesses in which there is material participation. For example, an accountant who works for a monthly paycheck receives active income.
Passive income can be defined as money being earned regularly with little or no effort on the part of the recipient. It is described as a financial autopilot whereby you spent some time to build it up, once it is completely built it starts paying you. Watch the complete session by clicking on the YouTube channel icon on top right.
Prefer watching instead of reading!
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