From Broke to wealthy
Broke means, if you lost your primary
source
of income today, you wouldn't be
able
to maintain the lifestyle you have
become
accustomed to because you have no
assets
to rely on.
Active income is the income
you get from
services
rendered, it is usually your income
from
your job or business.
Passive income in
simple terms is money
that
you make while you are sleeping. It is
the
income you get regularly from
investments
you've already made.
Financial Freedom: When passive income exceeds your expenses.
Wealthy is about how much of your income you are able to keep and convert
into assets that can provide you with an income in the future.
wealthy is not how much we earn but how we can systematically use a
proportion of the income we earn to build assets that pay us over time
