Seven types of income that millionaires have and how the rich actually make money.

Now we search shows that on average, millionaires have over seven streams off income.

Now, that may or may not be true, but for sure, millionaires have more than one stream of income.

Now, if that's the case, then why don't more people have multiple streams of income?

Why do the majority off the population on Lee has one form of income, one stream of income primarily coming from their jobs.

I want you to think back when you were growing up, right when you want to make money, what did your parents tell you?

You go to school, get good grades and get a safe, secure job, right?

So think about back in.

When you were going to school, you were going to school to study, to learn howto earn one stream off income, didn't you?

Right.

That's what you did.

And that's what we were taught.

You see, most people, they're not even aware.

There other forms of income there, other possibilities.

There are other ways to make money or they could focus on is one if they don't know if they're not aware.

How would they know how to generate that type of income?

So today we're gonna talk about the seven types of income milliners have.

And what are some of the possibilities?

Were some things that you could do.

If you have watched my other video on multiple streams of income What?

They don't tell you?

Then you know that I am a big believer in focusing on one thing.

First focusing on developing one not two, not 31 solid stream of income, first having their high income skill before you diversify.

And now, assuming you have already developed your high income skill and you have a solid stream of income and you are financially stable now you want to expand, you want to diversify.

Here's some of the options income type number one or an income.

This is two income that most people understand.

This is income that most people earn your trading hours for dollars.

You see, one of the biggest mistakes that most people make is they attend to earn more money by trading more time.

So let's say you have a full time job right now.

If you want to earn more money that people wrong.

You would tell you you know what worked a night shift.

Work on weekends work longer hours.

There tend to tell you to earn more money by trading more time.

That's a big mistake.

What you actually want to do is to earn more money by trading less time.

Now, I know that sounds counterintuitive, but listen to me.

So let's say you're working at a job and you're making 13 bucks an hour hypothetically, right to earn Maur.

Yes, you could work more hours, But instead of doing that, ask yourself a different question.

How could you be more valuable?

How could you upgrade your skills?

So then you're earning 15 16 $2025 an hour or Maur.

So the same block of time the same hour.

Now you're increasing your value, your living Maur value to the company or to the marketplace.

So you're earning more money with the same amount of time.

Or better yet, with less time.

Now that's working smart because we only have 24 hours a day, seven days a week, 365 days a year.

So if you want to increase the earned income.

The Onley way to do that with the limited time that we have is to be ableto ERM or her our I'll give you a perfect example.

Let's say you are a copywriter.

You have a cooperating skill.

So before you were earning 13 bucks an hour and now, because of this new skill set and you are writing email copy meaning promotional emails for companies and you get pay 300 bucks to write to emails and it takes you above on average an hour to write email.

So two e mails two hours of the time.

So how much did you make for our $150?

Her Our.

Now just think about that.

Instead of earning $13 an hour now, you're earning 100 and $50 per hour.

Why?

Because there's value you're delivering compared to before, much, much greater.

It's almost a 10 times increase.

That's what I'm talking about.

And this is something that you could learn.

This is a skill set that I've taught thousands and thousands of students around the world.

How to learn this one.

Just one simple skill.

You could also click on a link below.

If you want to learn more about it, how do the rich get rich and stay rich?

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Secrets of the rich event dot com Click the link in the Description Income Time Number two, Business Income With Business Income you are not trading hours for dollars.

You're trading.

Could be an expertise.

If you're providing a service excuse set or you are trading a product for money.

You're selling something.

I'll give you a perfect example.

One of my e commerce businesses is a damn lock shop.

Now, at the damn lock shop, we offer both digital and also physical products.

This business generates business income for me day in and day out.

I'm not trading hours for dollars, but I'm trading products for dollars.

So that's business income.

Stream number three interest income.

Now with interest income, you're earning money by letting your money out to somebody.

It could be a CD could be interest that you earn in a savings account.

You probably have a savings account or it could be carrying a note.

Now what I mean by that name, given example number of years ago, I sew a company to my business partner.

The deal was very, very simple, that he would pay me some form of downpayments our down payment, which is a percentage off the purchase price.

And then I carry a note meaning an IOU for five years.

They would pay me some kind of monthly payment on a monthly basis, plus interest.

Very, very simple.

So why wouldn't my business partner by a business for me?

Because he is buying a proven business income stream while we just talked about right.

So throw their five years.

The interest that I earned would be considered interest income now.

So what I've been able to do is to utilize my skills and intelligence to build a business right that generous Mrs Income that's valuable to somebody in exchange, once I sell the business now, I'm able to also generate additional interest income simply because of my skill sense.

Does that make sense?

Income type number four dividend income.

Now, this is money that you earn as a result of owning shares off cos we call them dividend stocks, right?

Let's see your 30 shares off a particular stock, and that stock pays $2 in annual dividends.

You will earn 60 bucks her year.

It's very, very simple.

And some companies they pay dividends annually.

Some of them they pay Sami annually and some of them even monthly dividend income type number five rental income.

This is income that you earn as a result of owning something, and you are renting it out.

It could be a condo.

It could be multi family.

It could be a commercial real estate.

Now this is very, very powerful, because when you have rental income, what he means is you're using leverage.

Millionaires tend to create wealth for the whole, popped their wealth.

In real state, This is one of the most common forms of vehicle that they utilize and leverage.

Let me give an example.

Let's say you want to buy $100,000 worth off stocks.

My question is, how much do you need?

Well, you'll need $100,000 in cash to buy 100 1000 worth off.

Stop assuming you're not doing anything risky, like using margin and stuff like that, right?

You're not doing any of that $100,000 in cash to buy $100,000 worth of stocks.

Well, let's say if you want to buy $100,000 worth of real estate, do you need $100,000 in cash?

The answer is no.

Why?

Because they are banks.

There are institutions.

They are private investors.

There are insurance companies that are willing to lend you the money for you to buy real estate.

In some cases, they're lending companies.

They'll lend you up to 100% off the purchase price.

You see, they would not lend you money to buy stocks, but they will lend you money to buy real estate.

I'll give you one more example.

Let's say you buy $100,000 worth of stocks.

How much of that?

$100,000 off stocks worth right now, the minute you buy it, $100,000.

Very simple.

Answer.

Okay, Different scenario.

Let's say you buy a piece of property for $100,000.

How much that property's worth?

That could be worth $80,000 if you buy it wrong or it could be worth $120,000.130,000 dollars, $150,000.

Now you may be thinking, well, how could that be?

It's called a motivated seller because people sell their properties for different reasons.

It could be due to health reasons.

It could be due to a divorce.

It could be that they are moving out of town, and they have to sell this property to get the money out to buy the next property.

There's so many reasons, but it goes beyond the scope of this particular video.

But just for now realize that rental income it's a very powerful form off income that you should know and understand.

Income Stream number six Advertising income This is money earned paid by advertisers.

Let's say you have a block and you are creating content.

You're writing good articles and people love your content, and they visit your block very, very often.

What could do is you could place the's s sends on your website, so when people click on it, you will be earning money.

You're monetizing the blonde.

How do you do that?

Because their advertisers out there, they're willing to pay to get those eyeballs to get those attention.

Let's say you have a YouTube channel and you're creating interesting, compelling, captivating videos that people love to watch.

You could earn money by having Google s ends on your channel on your video.

So when people watch your videos and then advertises evidencing on your channel through, Google ascends through the Google platform.

You'll earn money that way.

So advertising income it is a form of income that it takes a liver time to create by one to get it going.

It doesn't take a whole lot.

To maintain is a very powerful form of England.

The seventh stream of income that millionaires have is royalty and licensing income.

It simply means that you create a part of you, create an idea.

You create a process and your license said it out.

You let someone use your idea and you get a feed out of it.

It's that simple.

So let's take unlock it.

For example, Now the unlock.

It taught me one good year to write a book to finish the book and publishing the book, and now it is available across North America in every single major airport in Hustle a locket book.

Every single time someone buys the book, I earn a little wall T from the work that I did once, right?

And I'll be earning roadies for many, many years to come.

Same thing when people buy the book from Amazon, also get a little quality from it.

That's royalty income now.

These are just some of the basic forms of income that millionaires have their other, more advanced forms off income that I don't have time to go into.

Example that you could have a business here, a business?

A.

There has a product, and they're looking to market this product and get it out there, too.

More people.

And then you have a business.

Be that has an audience, that they have a list that by being a what I call a joint venture brokered by matching business A and B together, and you can take a percentage off what they sell in between and get a small fee out of that small rodeo.

That or as a consultant, income death business is doing X amount of dollars and buy you utilizing your skill, helping them to that pick that next level you can get a percentage off the upside called a consulting income, I could go on and on and on.

The possibility is only limited by your imagination.

Now, if you're curious, but you're not so sure what type of income stream there you should focus on or developed.

You could click the link below and speak to one of my high income consultants or advisor.

They would be able to help you.

We have a number of resource is that may be a good fit for you that my makes sense.

If not at the very least, they could kind of point you to the right direction so that you know the possibilities and what if something options that you have.

So go ahead and book a time today.