Multiple Streams of Income
ACTIVE INCOME
PASSIVE INCOME
Active income is income that we earn by trading our time for money. The best example is a job.
Most of us are taught from young by our parents and teachers to study hard, get good grades, get a good paying job with good benefits.
Most of us are taught from young by our parents and teachers to study hard, get good grades, get a good paying job with good benefits.
Passive Income comprises investment and businesses.
When you have an investment, you have money working for you. We certainly do not have to work for money anymore if our returns from our investment is enough to cover our expenditiure.
When you have an investment, you have money working for you. We certainly do not have to work for money anymore if our returns from our investment is enough to cover our expenditiure.
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"We focus on building our PASSIVE INCOME while relying on our ACTIVE INCOME to sustain us"
There is fundamentally nothing wrong with having a job. However, once you stop working (due to whatever reasons such as age, sickness, retrenchment, etc), your income stops ! But your expenditure will not stop :-) You still have to pay your bills, your children's education, food, housing, etc...
Another example is a small-business owner such as a small grocery store, a lawyer, a florist, etc. I'm sure you can think of many examples. For this category of people, as the more business they get, the busier they get. For instance, I know of a friend who is a medical doctor who runs a 1-man operation. Though he has money, he has to be at his clinic almost everyday !
Another example is a small-business owner such as a small grocery store, a lawyer, a florist, etc. I'm sure you can think of many examples. For this category of people, as the more business they get, the busier they get. For instance, I know of a friend who is a medical doctor who runs a 1-man operation. Though he has money, he has to be at his clinic almost everyday !
However, since most of us do not have a few million dollars, the next best thing to do is to build a business or an asset over time to pay us repeatedly, month after month, like a PENSION !
And by business here, we do not mean a small business that gives you an active income. We are talking about an asset that usually takes a huge capital investment and a long time like a few years to build.
A smart alternative is to build a network marketing business. It usually requires a low startup capital and all you need is put in a reasonable amount of time and effort to build this business.
At MSI Singapore, we focus on just a few passive income streams to build our PENSION :->
We anticipate that in a few years' time, most of us who put in the time and effort will be able to enjoy the time freedom to do whatever we like with all the money that we have :-)
And by business here, we do not mean a small business that gives you an active income. We are talking about an asset that usually takes a huge capital investment and a long time like a few years to build.
A smart alternative is to build a network marketing business. It usually requires a low startup capital and all you need is put in a reasonable amount of time and effort to build this business.
At MSI Singapore, we focus on just a few passive income streams to build our PENSION :->
We anticipate that in a few years' time, most of us who put in the time and effort will be able to enjoy the time freedom to do whatever we like with all the money that we have :-)
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