7 Types of Income (And How to Use Them to Your Advantage!)
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In this episode of The Personal Finance Podcast, Andrew breaks down the seven types of income that separate people living paycheck-to-paycheck from those building real wealth—from earned income where you trade time for money, to royalty income that pays you forever without lifting a finger, showing you exactly how to climb the ladder from working for money to having money work for you.
Here's what we're covering today:
💼 Earned Income: The starting line where you trade time for money
💸 Profit Income: How business ownership turns effort into scalable leverage
💰 Interest Income: Money that works while you sleep
📈 Dividend Income: Getting paid just for owning assets
🏠 Rental Income: Building wealth through hard assets and other people's money
📊 Capital Gains: The wealth multiplier that creates life-changing money
💡 Royalty Income: Infinite leverage where your ideas earn money forever
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