Author: Mike Koenigs
Publisher:
ISBN: 9781520441924
Category :
Languages : en
Pages : 96
Book Description
What is Money Phone and how will it change the way you do business less than 30 minutes from now?Because every business needs to get and close deals as quickly as possible but generally have these challenges...(how many of these sound like you?):They don't: have a list or database know where to find high-quality, qualified prospects have time know how to pitch their products and services the right away have good marketing have an advertising budget have a tech team have automation tools and...they have limited resources and budgets need to CLOSE DEALS NOW Money Phone is the solution for all of these challenges because with it and your smartphone, you can: Start closing deals in as little as an hour from now Gain access qualified leads IMMEDIATELY for FREE Find the highest-quality, motivated prospects with money The book includes step-by-step scripts you can adapt to any business You don't need a marketing or advertising budget No time required to get set up Nobody to hire Nothing to automate (unless you want to) And you can use this to close deals of any size - $500, $1,000, $10,000, $100,000 or even more Money Phone uses a combination of simple text messages, short 1 minute videos and easy-to-learn but advanced psychology (without using icky, annoying, salesy tactics) to access high-quality prospects, get their attention, engage with them, gain their trust and get them to say YES.The bottom line is if you can copy and paste, send a text message, take a picture or shoot a 1 minute video on your smartphone, Money Phone can be used to close deals, starting now.In fact, with the included free video training, you'll see the EXACT strategies and get the EXACT scripts I've used to close $2,700, $7,700, $19,000 and $81,000 deals with text messages, short videos and my smartphone. If you don't have a list, you'll love this bonus because you can start getting and closing deals right away.Who am I and why should you listen to or trust me?I've been consulting, advising, building, growing and selling businesses since I was 16 years old. I've helped over 50,000 businesses over the course of 30 years who have purchased my products, coaching and consulting services and software tools.Over the course of my career, I've sold well over $50,000,000 worth of products, services, coaching, consulting and advice. I've also sold two of my businesses to publicly-traded companies.I think it's reasonable to say I've witnessed and participated in a multitude of different ways to find, get and close lots of customers - but the way that excites me most is using mobile marketing with video and that's what this book and companion video is all about.Everything I'm going to share with you in this book works face-to-face in person, at live events, conferences, trade shows, associations, in retail or online. The principles are all the same.FREE - $500 Bonus TrainingThis book includes a step-by-step video training and copy-paste scripts you can use RIGHT NOW to find prospects and close 4,5 and 6-figure deals!No software, experience or list required!Get it NOW at www.GoMoneyPhone.com
Money Phone!
Making Money on the Mobile Internet
Author: Jeff Yee
Publisher: Lulu.com
ISBN: 1430302607
Category : Computers
Languages : en
Pages : 180
Book Description
In the United States, mobile commerce is a $1 billion industry and growing. More and more people are using their mobile phones everywhere to communicate, to get information, and to have fun. The technology for you to create, deliver, and market that content -- and profit from it -- is available now too. In Making Money on the Mobile Internet, the experts at AT&T show you how to harness the potential of the mobile marketplace in five simple steps. The business opportunities for mobile content providers are tremendous. From creating your application to getting it to market to tracking your success, Making Money on the Mobile Internet shows you how to create the next killer app. Let's get started
Publisher: Lulu.com
ISBN: 1430302607
Category : Computers
Languages : en
Pages : 180
Book Description
In the United States, mobile commerce is a $1 billion industry and growing. More and more people are using their mobile phones everywhere to communicate, to get information, and to have fun. The technology for you to create, deliver, and market that content -- and profit from it -- is available now too. In Making Money on the Mobile Internet, the experts at AT&T show you how to harness the potential of the mobile marketplace in five simple steps. The business opportunities for mobile content providers are tremendous. From creating your application to getting it to market to tracking your success, Making Money on the Mobile Internet shows you how to create the next killer app. Let's get started
How to Break Up with Your Phone
Author: Catherine Price
Publisher: Ten Speed Press
ISBN: 0399581138
Category : Self-Help
Languages : en
Pages : 194
Book Description
This evidence-based, user-friendly guide presents a 30-day digital detox plan that will help you set boundaries with your phone and live a more joyful and fulfilling life. “I wrote The Anxious Generation to help adults improve the lives of children. Many readers have asked me for a version of the book aimed at helping adults and teens help themselves. Catherine Price has written the best such book.”—Jonathan Haidt Do you feel addicted to your phone? Do you frequently pick it up “just to check,” only to look up forty-five minutes later wondering where the time has gone? Does social media make you anxious? Have you tried to spend less time mindlessly scrolling—and failed? If so, this book is your solution. Award-winning health and science journalist and TED speaker Catherine Price presents a practical, evidence-based 30-day digital detox plan that will help you break up—and then make up—with your phone. The goal: better mental health, improved screen-life balance, and a long-term relationship with technology that feels good. This engaging, user-friendly guide explains how our smartphones and apps are designed to be addictive and how the time we spend on them is increasing our anxiety and damaging our abilities to focus, think deeply, form new memories, generate ideas, and be present in our most important relationships. Next, it walks you through an effective and easy-to-follow 30-day plan that has already helped thousands of people worldwide break their phone addictions and feel more fully alive. Whether you need help for yourself or for your family, friends, students, colleagues, clients, or community, How to Break Up with Your Phone is the ultimate guide to digital detoxing. It’s guaranteed to help you put down your phone—and come back to life.
Publisher: Ten Speed Press
ISBN: 0399581138
Category : Self-Help
Languages : en
Pages : 194
Book Description
This evidence-based, user-friendly guide presents a 30-day digital detox plan that will help you set boundaries with your phone and live a more joyful and fulfilling life. “I wrote The Anxious Generation to help adults improve the lives of children. Many readers have asked me for a version of the book aimed at helping adults and teens help themselves. Catherine Price has written the best such book.”—Jonathan Haidt Do you feel addicted to your phone? Do you frequently pick it up “just to check,” only to look up forty-five minutes later wondering where the time has gone? Does social media make you anxious? Have you tried to spend less time mindlessly scrolling—and failed? If so, this book is your solution. Award-winning health and science journalist and TED speaker Catherine Price presents a practical, evidence-based 30-day digital detox plan that will help you break up—and then make up—with your phone. The goal: better mental health, improved screen-life balance, and a long-term relationship with technology that feels good. This engaging, user-friendly guide explains how our smartphones and apps are designed to be addictive and how the time we spend on them is increasing our anxiety and damaging our abilities to focus, think deeply, form new memories, generate ideas, and be present in our most important relationships. Next, it walks you through an effective and easy-to-follow 30-day plan that has already helped thousands of people worldwide break their phone addictions and feel more fully alive. Whether you need help for yourself or for your family, friends, students, colleagues, clients, or community, How to Break Up with Your Phone is the ultimate guide to digital detoxing. It’s guaranteed to help you put down your phone—and come back to life.
Making Money
Author: Peet van Biljon
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 1547401133
Category : Business & Economics
Languages : en
Pages : 286
Book Description
How much do you really know about money? Everyone uses it, but few know how it really works. Most books about money focus on specific aspects. This book breaks through the usual silos to present money as a broad social technology that serves the current needs of society. It reviews the latest developments in financial technology including cryptocurrency, blockchain, and the prospect of a cashless future; and clears up many misconceptions in the process. Starting with a very brief history, the authors provide insights on how money is made; why money has value and what can change its value; how central banks, treasuries, foreign exchange, lending, and blockchain work; why you may be trading against robots; and privacy and security issues in an increasingly cashless society that will change our lives. While written for a broad audience, this book is also essential reading for students entering courses in the area of business finance, or money and banking.
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 1547401133
Category : Business & Economics
Languages : en
Pages : 286
Book Description
How much do you really know about money? Everyone uses it, but few know how it really works. Most books about money focus on specific aspects. This book breaks through the usual silos to present money as a broad social technology that serves the current needs of society. It reviews the latest developments in financial technology including cryptocurrency, blockchain, and the prospect of a cashless future; and clears up many misconceptions in the process. Starting with a very brief history, the authors provide insights on how money is made; why money has value and what can change its value; how central banks, treasuries, foreign exchange, lending, and blockchain work; why you may be trading against robots; and privacy and security issues in an increasingly cashless society that will change our lives. While written for a broad audience, this book is also essential reading for students entering courses in the area of business finance, or money and banking.
The Ultimate Guide to Making Money Online
Author: Amanpreet Kaur
Publisher: Rana Books Uk
ISBN: 8119786653
Category : Self-Help
Languages : en
Pages : 55
Book Description
Unlock the limitless potential of your smartphone and embark on a journey to financial freedom with "The Ultimate Guide to Making Money Online." This comprehensive guide is your roadmap to success in the digital age, offering a wealth of knowledge and practical advice on various income streams that can be tapped into using your mobile device. From leveraging the power of apps to exploring the world of e-commerce, content creation, and freelancing, this book provides valuable insights into diverse online opportunities. Discover smart investing strategies, learn how to maximize savings and cashback rewards, and explore the thriving gig economy. In addition, gain access to 50 proven ways to earn money through your mobile device and receive 50 expert tips to optimize your smartphone for work purposes. Whether you're an aspiring entrepreneur or someone seeking extra income, this guide equips you with the tools and knowledge to thrive in the digital marketplace. Start your journey towards financial success today with "The Ultimate Guide to Making Money Online."
Publisher: Rana Books Uk
ISBN: 8119786653
Category : Self-Help
Languages : en
Pages : 55
Book Description
Unlock the limitless potential of your smartphone and embark on a journey to financial freedom with "The Ultimate Guide to Making Money Online." This comprehensive guide is your roadmap to success in the digital age, offering a wealth of knowledge and practical advice on various income streams that can be tapped into using your mobile device. From leveraging the power of apps to exploring the world of e-commerce, content creation, and freelancing, this book provides valuable insights into diverse online opportunities. Discover smart investing strategies, learn how to maximize savings and cashback rewards, and explore the thriving gig economy. In addition, gain access to 50 proven ways to earn money through your mobile device and receive 50 expert tips to optimize your smartphone for work purposes. Whether you're an aspiring entrepreneur or someone seeking extra income, this guide equips you with the tools and knowledge to thrive in the digital marketplace. Start your journey towards financial success today with "The Ultimate Guide to Making Money Online."
Southern Innovator Issue 1: Mobile Phones and Information Technology
Author: David South, Editor and Writer
Publisher: DSConsulting
ISBN:
Category :
Languages : en
Pages : 60
Book Description
Launched in May 2011, the new global magazine Southern Innovator (ISSN 2222-9280) is about the people across the global South shaping our new world, eradicating poverty and working towards the achievement of the Millennium Development Goals (MDGs). They are the innovators. Follow the magazine on Twitter @SouthSouth1. If you would like hard copies of the magazine for distribution, then please contact the United Nations Office for South-South Cooperation (www.southerninnovator.org). Learn about the Global South-South Development Expo here: www.southsouthexpo.org.
Publisher: DSConsulting
ISBN:
Category :
Languages : en
Pages : 60
Book Description
Launched in May 2011, the new global magazine Southern Innovator (ISSN 2222-9280) is about the people across the global South shaping our new world, eradicating poverty and working towards the achievement of the Millennium Development Goals (MDGs). They are the innovators. Follow the magazine on Twitter @SouthSouth1. If you would like hard copies of the magazine for distribution, then please contact the United Nations Office for South-South Cooperation (www.southerninnovator.org). Learn about the Global South-South Development Expo here: www.southsouthexpo.org.
Data Mining Mobile Devices
Author: Jesus Mena
Publisher: CRC Press
ISBN: 1040059465
Category : Business & Economics
Languages : en
Pages : 325
Book Description
With today's consumers spending more time on their mobiles than on their PCs, new methods of empirical stochastic modeling have emerged that can provide marketers with detailed information about the products, content, and services their customers desire.Data Mining Mobile Devices defines the collection of machine-sensed environmental data pertainin
Publisher: CRC Press
ISBN: 1040059465
Category : Business & Economics
Languages : en
Pages : 325
Book Description
With today's consumers spending more time on their mobiles than on their PCs, new methods of empirical stochastic modeling have emerged that can provide marketers with detailed information about the products, content, and services their customers desire.Data Mining Mobile Devices defines the collection of machine-sensed environmental data pertainin
$15k in 90 Days
Author:
Publisher: Russell Nelson
ISBN: 1301665290
Category :
Languages : en
Pages : 18
Book Description
Publisher: Russell Nelson
ISBN: 1301665290
Category :
Languages : en
Pages : 18
Book Description
Making Money from Copywriting
Author: Jason Deign
Publisher: How To Books Ltd
ISBN: 9781857038606
Category : Business & Economics
Languages : en
Pages : 244
Book Description
An essential guide for anyone who wants to earn money as a part- or full-time copywriter, Deign shows readers how to get started, find work, and adapt personal style to different types of work, such as advertising, direct mail, Internet, public relations, press, sales promotion and more.
Publisher: How To Books Ltd
ISBN: 9781857038606
Category : Business & Economics
Languages : en
Pages : 244
Book Description
An essential guide for anyone who wants to earn money as a part- or full-time copywriter, Deign shows readers how to get started, find work, and adapt personal style to different types of work, such as advertising, direct mail, Internet, public relations, press, sales promotion and more.
THE BIBLE OF MAKING MONEY ONLINE
Author: S P Sharma
Publisher: Exam2Villa
ISBN:
Category : Law
Languages : en
Pages : 276
Book Description
Content 1. What is Income? 2. What is digital marketing? 3. Build a Niche Blog (or Website) and Use Affiliate Marketing 4. Launch and Grow a Startup 5. Build and Sell Software 6. Start an eCommerce Site and Sell Physical Products 7. Find Freelance Clients and Sell Your Services(Introduce 78 Freelance website) 8. Start Online Coaching and Sell Your Advice 9. Create Online Courses to Productize Your Knowledge 10. Launch a YouTube Channel to Entertain and Educate 11. Record a Podcast and Share Inspiring Stories 12. Join a Remote Company Part-Time (or Full-Time) 13. Test Websites 14. Narrate Audiobooks 15. Write and Sell an eBook (Amazon Self-Publishing) 16. Do Micro-Jobs on Amazon Mechanical Turk 17. Join Freelance Job Sites (Like Flexjobs and SolidGigs) 18. Sell Your Services on Niche Sites Like 99Designs, Cloudpeeps or TopTal 19. Do Graphic Design for Local Companies 20. Email Marketing with a Niche Newsletter (The Skimm, Mister Spoils) 21. Sells Products on a Shopify Store 22. Sell Your Crafts and Art on Etsy 23. Become an Influencer on Instagram 24. Sell Your Art and Designs on Society6 25. Local Business Consulting 26. Sell Stock Photos Online 27. Rent Your Home or Room on AirBnB 28. Start an Online T-Shirt Business 29. Sell Your Expertise on Clarity.fm 30. Answer Professional Questions on JustAnswer 31. Become a Virtual Assistant 32. Get a Commission-Only Sales Gig 33. Teach English as a Virtual Tutor 34. Guest Post as a Freelance Writer for Niche Websites 35. Write on Medium’s Partner Program 36. Help People with Their Tax Prep 37. Transcribe Audio and Interviews 38. Proofread Articles 39. Private Labelling and Selling Products on Amazon 40. Online Travel Consultant 41. Do Virtual Odd Jobs on TaskRabbit 42. Clean Up Search Engines 43. Enter Online Contests for Company Names and Slogans 44. Get Paid for Being Healthy 45. Write Reviews of the Places You’ve Been 46. Do Data Entry for Companies 47. College Admissions Essay Editor 48. Help New Teachers by Selling Your Teaching Plan 49. Give Your Opinion in Online Focus Groups and Surveys 50. Maintain Artist Fan Pages 51. Look After Other People’s Pets 52. Sell Your Old Smartphone and Other Tech Goods 53. Sell Your Old Books 54. Rent or Sell Your Clothes Online 55. Online Dating Consultant 56. Rent Your Car on Turo. 57. Become an Online News Writer or Columnist 58. Buy and Sell Domain Names 59. Do Data Analysis for Companies 60. Online Personal Trainer or Fitness Coach 61. Sell Your Songs 62. Subcontract Your Extra Work and Start an Online Agency 63. Create DIY or Cooking Videos 64. Edit Videos Online 65. Build a Niche Website 66. Become a Contract Customer Service Superstar 67. Buy an Existing Website 68. Become an Online Notary 69. Run Corporate Workshops 70. Lend Your Voice to Voice-Overs 71. Small Business Marketing Consultant 72. Rent Your Camera Gear 73. Best Apps to Make Money Fast Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.[1][2][3] For households and individuals, "income is the sum of all the wages, salaries, profits, interest payments, rents, and other forms of earnings received in a given period of time."[4] (also known as gross income). Net income is defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is usually the basis to calculate how much income tax is owed. 1. EARNED (ACTIVE) INCOME Definition: Earned income is money earned from working that requires your time. This is the income you receive from actively working. You work and you are paid for your work. Examples: Salary; wages; bonuses; contract work. Tax implications: Earned income is taxed higher than any other income, at a rate of 10%-35%, plus Medicare, Social Security, and other taxes, which can reach close to 50% based on tax calculators and estimators. Characteristics: It’s hard to become wealthy solely from earned income for a few reasons. First, it’s taxed at the highest rate, and second, there are only so many hours in the day for you to work (you can work and work and work, but if you have to be there to make the money, there’s a cap on your income because time is limited). Another downside besides taxes is that once you stop working, the money stops coming in. On the upside, earned income is the easiest type of income to make. You can just go get a job or side job pretty easily in the US and make some money. This is why most people make money this way–it’s easy to do. A great way to switch over into better types of income is to use earned income by putting it into a portfolio or to start a side hustle or business (this is what I did by starting a blog, which is now my full time business). 2. PORTFOLIO INCOME Definition: Portfolio income is money you receive from selling an investment for more than what you paid for it (portfolio income is also referred to as capital gains). Examples: 1) trading assets, like stocks, bonds, and mutual funds, 2) buy and selling real estate, and 3) buying and selling other assets, like a car. Tax implications: Portfolio income is taxed at 10%-20% for investments held over 12 months and taxed as earned income if held less than 12 months. However, portfolio income is not taxed for Medicare or Social Security. Capital gains can be offset by losses on other investments, which is a huge plus. Characteristics: One downside is that for the average person, investing can seem intimidating. This often keeps people away from doing it. It wasn’t until I became a Certified Financial Planner that I really understood what was going on with respect to portfolio income. If you’re just getting started with investing, read this post – 21 tips for investing in your 30’s. Also, this type of income can take a long time to generate if you believe in many of the widely held investing concepts that require buying and holding for years. If you’re a trader and attempt to do it much faster, you better be really good at it, because otherwise, it’s sort of like gambling. You have to have money to invest upfront to create portfolio income. This is a huge reason why people say they don’t invest. You can start with a small amount and contribute to your investments over time, but it requires you to have the capital to do it. If you want to get started with hiring someone to help you with your money, read this post on questions you should ask your financial advisor before hiring her. I like using investing as a supplemental income strategy. I don’t want to retire, but I like the idea that I could if I ever change my mind or it became medically necessary. So, I save and invest as a bit of a safety net, but not as the end goal of retiring as soon as possible. I like contributing to the world through my work, and I also like creating a lot of income. I just don’t ever tie my “hard work” or time to income generated. This way, I know my income potential is unlimited. 3. PASSIVE INCOME Definition: Passive income is money generated from assets you own, where you are not actively working. Examples: Rental income, business income (as long as it’s not earned based on time and effort), creating/selling intellectual property (e.g.: books). Tax implications: Passive income receives the most favorable tax treatment. Characteristics: Passive income is thought to be the key to building wealth. Once you have an investment that generates recurring income, you don’t have to do much to maintain it (so time is not a limitation). Typically, there isn’t much start up cost to passive income that you have to provide yourself. For example, you can use your time to create a business or you can get funding from investors for your real estate properties or start up company. It’s not as easy as earned income, but it’s not as challenging as portfolio income (in terms of start up funds). It takes a lot of money to make a lot of portfolio income, whereas you can generate a lot of passive income with less. I started a blog with the idea of generating passive income (the Smart Passive Income podcast used to be on repeat!). It’s one of the best things I ever did! A FINAL NOTE! Understanding how income works is important because it affects how you go about deciding what results you want with money in your future. Do you want to retire? Do you want financial independence early? Do you want to focus on contributing to the world through your work as an entrepreneur? Do you want money just to be a scorecard of the value you provide? Do you believe that “hard work” and time create money? (So many questions!) These are philosophical questions, but whatever you believe will drive your feelings, which will drive your actions, which will drive your results. So, ultimately, your beliefs drive your results (you can read more about this in the 5 step framework to master your mindset post here). Based on what you choose to believe, you could end up financial independent and retiring very young and living off 4% of your investment portfolio, with frugal values, while traveling, and doing whatever else you want to experience the world while you’re alive. Or, you could end up a multimillionaire focusing on serving the world through your work and never retiring. Completely different results. Both involve a lot of money. What you choose matters. What you believe about money matters. What you do matters. The three different types of income are a way of learning how to use money to your advantage to get the results you want most. This is the way our system works. The sooner you understand how money works, the sooner you can make better decisions that will help you achieve financial success (whatever that looks like to you).
Publisher: Exam2Villa
ISBN:
Category : Law
Languages : en
Pages : 276
Book Description
Content 1. What is Income? 2. What is digital marketing? 3. Build a Niche Blog (or Website) and Use Affiliate Marketing 4. Launch and Grow a Startup 5. Build and Sell Software 6. Start an eCommerce Site and Sell Physical Products 7. Find Freelance Clients and Sell Your Services(Introduce 78 Freelance website) 8. Start Online Coaching and Sell Your Advice 9. Create Online Courses to Productize Your Knowledge 10. Launch a YouTube Channel to Entertain and Educate 11. Record a Podcast and Share Inspiring Stories 12. Join a Remote Company Part-Time (or Full-Time) 13. Test Websites 14. Narrate Audiobooks 15. Write and Sell an eBook (Amazon Self-Publishing) 16. Do Micro-Jobs on Amazon Mechanical Turk 17. Join Freelance Job Sites (Like Flexjobs and SolidGigs) 18. Sell Your Services on Niche Sites Like 99Designs, Cloudpeeps or TopTal 19. Do Graphic Design for Local Companies 20. Email Marketing with a Niche Newsletter (The Skimm, Mister Spoils) 21. Sells Products on a Shopify Store 22. Sell Your Crafts and Art on Etsy 23. Become an Influencer on Instagram 24. Sell Your Art and Designs on Society6 25. Local Business Consulting 26. Sell Stock Photos Online 27. Rent Your Home or Room on AirBnB 28. Start an Online T-Shirt Business 29. Sell Your Expertise on Clarity.fm 30. Answer Professional Questions on JustAnswer 31. Become a Virtual Assistant 32. Get a Commission-Only Sales Gig 33. Teach English as a Virtual Tutor 34. Guest Post as a Freelance Writer for Niche Websites 35. Write on Medium’s Partner Program 36. Help People with Their Tax Prep 37. Transcribe Audio and Interviews 38. Proofread Articles 39. Private Labelling and Selling Products on Amazon 40. Online Travel Consultant 41. Do Virtual Odd Jobs on TaskRabbit 42. Clean Up Search Engines 43. Enter Online Contests for Company Names and Slogans 44. Get Paid for Being Healthy 45. Write Reviews of the Places You’ve Been 46. Do Data Entry for Companies 47. College Admissions Essay Editor 48. Help New Teachers by Selling Your Teaching Plan 49. Give Your Opinion in Online Focus Groups and Surveys 50. Maintain Artist Fan Pages 51. Look After Other People’s Pets 52. Sell Your Old Smartphone and Other Tech Goods 53. Sell Your Old Books 54. Rent or Sell Your Clothes Online 55. Online Dating Consultant 56. Rent Your Car on Turo. 57. Become an Online News Writer or Columnist 58. Buy and Sell Domain Names 59. Do Data Analysis for Companies 60. Online Personal Trainer or Fitness Coach 61. Sell Your Songs 62. Subcontract Your Extra Work and Start an Online Agency 63. Create DIY or Cooking Videos 64. Edit Videos Online 65. Build a Niche Website 66. Become a Contract Customer Service Superstar 67. Buy an Existing Website 68. Become an Online Notary 69. Run Corporate Workshops 70. Lend Your Voice to Voice-Overs 71. Small Business Marketing Consultant 72. Rent Your Camera Gear 73. Best Apps to Make Money Fast Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.[1][2][3] For households and individuals, "income is the sum of all the wages, salaries, profits, interest payments, rents, and other forms of earnings received in a given period of time."[4] (also known as gross income). Net income is defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is usually the basis to calculate how much income tax is owed. 1. EARNED (ACTIVE) INCOME Definition: Earned income is money earned from working that requires your time. This is the income you receive from actively working. You work and you are paid for your work. Examples: Salary; wages; bonuses; contract work. Tax implications: Earned income is taxed higher than any other income, at a rate of 10%-35%, plus Medicare, Social Security, and other taxes, which can reach close to 50% based on tax calculators and estimators. Characteristics: It’s hard to become wealthy solely from earned income for a few reasons. First, it’s taxed at the highest rate, and second, there are only so many hours in the day for you to work (you can work and work and work, but if you have to be there to make the money, there’s a cap on your income because time is limited). Another downside besides taxes is that once you stop working, the money stops coming in. On the upside, earned income is the easiest type of income to make. You can just go get a job or side job pretty easily in the US and make some money. This is why most people make money this way–it’s easy to do. A great way to switch over into better types of income is to use earned income by putting it into a portfolio or to start a side hustle or business (this is what I did by starting a blog, which is now my full time business). 2. PORTFOLIO INCOME Definition: Portfolio income is money you receive from selling an investment for more than what you paid for it (portfolio income is also referred to as capital gains). Examples: 1) trading assets, like stocks, bonds, and mutual funds, 2) buy and selling real estate, and 3) buying and selling other assets, like a car. Tax implications: Portfolio income is taxed at 10%-20% for investments held over 12 months and taxed as earned income if held less than 12 months. However, portfolio income is not taxed for Medicare or Social Security. Capital gains can be offset by losses on other investments, which is a huge plus. Characteristics: One downside is that for the average person, investing can seem intimidating. This often keeps people away from doing it. It wasn’t until I became a Certified Financial Planner that I really understood what was going on with respect to portfolio income. If you’re just getting started with investing, read this post – 21 tips for investing in your 30’s. Also, this type of income can take a long time to generate if you believe in many of the widely held investing concepts that require buying and holding for years. If you’re a trader and attempt to do it much faster, you better be really good at it, because otherwise, it’s sort of like gambling. You have to have money to invest upfront to create portfolio income. This is a huge reason why people say they don’t invest. You can start with a small amount and contribute to your investments over time, but it requires you to have the capital to do it. If you want to get started with hiring someone to help you with your money, read this post on questions you should ask your financial advisor before hiring her. I like using investing as a supplemental income strategy. I don’t want to retire, but I like the idea that I could if I ever change my mind or it became medically necessary. So, I save and invest as a bit of a safety net, but not as the end goal of retiring as soon as possible. I like contributing to the world through my work, and I also like creating a lot of income. I just don’t ever tie my “hard work” or time to income generated. This way, I know my income potential is unlimited. 3. PASSIVE INCOME Definition: Passive income is money generated from assets you own, where you are not actively working. Examples: Rental income, business income (as long as it’s not earned based on time and effort), creating/selling intellectual property (e.g.: books). Tax implications: Passive income receives the most favorable tax treatment. Characteristics: Passive income is thought to be the key to building wealth. Once you have an investment that generates recurring income, you don’t have to do much to maintain it (so time is not a limitation). Typically, there isn’t much start up cost to passive income that you have to provide yourself. For example, you can use your time to create a business or you can get funding from investors for your real estate properties or start up company. It’s not as easy as earned income, but it’s not as challenging as portfolio income (in terms of start up funds). It takes a lot of money to make a lot of portfolio income, whereas you can generate a lot of passive income with less. I started a blog with the idea of generating passive income (the Smart Passive Income podcast used to be on repeat!). It’s one of the best things I ever did! A FINAL NOTE! Understanding how income works is important because it affects how you go about deciding what results you want with money in your future. Do you want to retire? Do you want financial independence early? Do you want to focus on contributing to the world through your work as an entrepreneur? Do you want money just to be a scorecard of the value you provide? Do you believe that “hard work” and time create money? (So many questions!) These are philosophical questions, but whatever you believe will drive your feelings, which will drive your actions, which will drive your results. So, ultimately, your beliefs drive your results (you can read more about this in the 5 step framework to master your mindset post here). Based on what you choose to believe, you could end up financial independent and retiring very young and living off 4% of your investment portfolio, with frugal values, while traveling, and doing whatever else you want to experience the world while you’re alive. Or, you could end up a multimillionaire focusing on serving the world through your work and never retiring. Completely different results. Both involve a lot of money. What you choose matters. What you believe about money matters. What you do matters. The three different types of income are a way of learning how to use money to your advantage to get the results you want most. This is the way our system works. The sooner you understand how money works, the sooner you can make better decisions that will help you achieve financial success (whatever that looks like to you).