7 Income Sources That Rich People Have

Did you know the average millionaire has seven different income sources? How do rich people earn multiple streams of income--money in seven or more ways? How can you create multiple income streams? Most people are only aware of earned income but the truth is, in order to get rich, you must learn to make money while you sleep. Creating more income streams will allow you to earn passive income become financially independent so you can retire early or just become less dependent on your 9-5.

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DISCLAIMER: Nothing published on my channel should be considered personal investment advice. Although I do discuss various types of investments and strategies, I am not a licensed professional. Please invest responsibly.

[mylifeisamememylifeispathe]

1. Earned income
2.Profit income
3.Interest income
4.Dividen income
5. Rental income
6. Capital gains
7. Royalty income

[CharlesPanigeo]

My income streams are:
*Earned income from my 9-5 job
*Earned income from tutoring mathematics (I have a BS in math and pursuing a masters)
*Earned income from adjunct teaching at my local university
*Dividend from ANCSA Native corporation
*Capital Gains/Dividend income from brokerage accounts
*Profit income from selling trading cards

[PenniesNotPerfection]

Yessss to multiple sources of income! Relying on just 1 is what keeps people poor and stressed unable to ever quit working.

[jameslucas]

The seven income types listed in this video.
Earned Income
- Your JOB
Profit Income
- Selling a product
Interest Income
- Interest from loans or line of credit
Dividend Income
- Distribution of company earnings to shareholders from stocks or mutual funds you own
Rental Income
- Property that you rent
Capital Gains
- Profit from the sale of property or an investment
Royalty Income - Payment received for the use and exploitation of artistic or literary works, patents and mineral rights. Royalty income is generally of two types; royalties for the use of copyrights, trademarks, and patents, and royalties from the extraction of oil, gas, or minerals.

[EmpireOfRealEstate]

Multiple streams of income is the key to financial freedom. Great video. I currently have 5 of 7 streams. Still building!

[savelikeaprowithleah]

Super informative! Thanks for sharing!

[angeldiamond]

Great categorizing, organizing and exampling!

[TimRoseOfficial]

Really great video and super informative! Liked! :)

[SharonTseung]

Informative! I like how everything is drawn out so we understand better. thanks :) I hope to move off earned income forever and get everything else 😅

[economiclifestyleinvesting]

Great video Chris, so far I got 4 of them and slowly working to get all 7 one day 👍👍

[thehelpfulentrepreneur]

Having your money work for you and not working for money is so key in being wealthy! Great video again Chris! 👍

[RyanGiffin]

So happy to see your growth Chris. You deserve it! You channel will help many people in the future!

[raulgolfs]

Profit, interest and rental is what I’m looking forward to! 👍🏽

[OhMyGoals]

Your videos are always enlightening and enjoyable - hope you have a great weekend!

[mikemoore]

Woah didn’t realize I have all 7 already. Pretty cool. Thanks Chris!

[sanoski]

Currently only have 4 of these streams as if now, but hoping to grow the ones I have now in the future years! Great video, Chris!!

[ShariKaye]

Great explanations! Working on earning from all 7 sources.

[TheEntrepreneurChannel]

I have 4 income sources! Great video Chris!

[NickPeitsch]

Nearly at 1000 subs! Congrats on the success :)

[rjmurray]

Great video and agree to make your money work for you instead of just the daily grind, you can get to all 7 but one thing I have learned is to live within your means and don’t try to play keeping up with the Jones’ never try to impress anyone you don’t even know or even like.
Be patient and you will get there, proudly consider myself the tortoise because the hare doesn’t always win the race.