According to a study by IRS on the tax return of 6,053 wealthy individuals, it shows wealthy individual build up their income from these 7 income streams.
7 income streams of millionaires:
- Earned Income – Income earned from employment.
- Profit Income – Income earned from business.
- Interest Income – Income earned from savings, bonds, or other lending activities.
- Dividend Income – Income earned from the stocks you owned.
- Capital Gain – Earnings earn from selling of assets.
- Rental Income – Income earned from rents your received by renting out your assets.
- Royalty Income – Income earned from selling the rights to use of your original creation.
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