Increase Your Financial IQ

In this day and Age of Economic recession, We all need to be Financially Educated. That is the only way the recession will not hit us. To increase Financial IQ one should understand the types of Incomes.

1. Earned Income.
2. Passive Income.
3. Portfolio Income.
4. Business Income.
5. Royality Income.

The first type of Income is Earned income, the Problem with this income is it is more taxed income and we are physically working for it.

The Second type of Income is Passive income, which keeps coming no matter you work or not.This types of Income come from Real Estate,Network Marketing Business it is also called Mailbox money.

The Third type of Income comes from Paper Assets like Stocks,Bonds,Mutual Funds CD. It is also an Investment income but we need to be more smart with our investments in order to have this income coming in.

The Fourth type of Income comes from owning your own business,Partnerships, Ventures which is a very good income if your business system starts working for you.

Royalty income is also called residual income or passive income sometimes. This income is created by publishing your Idea in a book(means writing a book), or Creating an invention and Patent protecting that idea with copyrights, and you keep getting an ongoing income weather you work or not.

Zidgionline.blogspot.com will keep adding more stuff to Increase your financial well being. Please follow this blog.

Sincerely,

Mirza Ali