In January 2018, I missed my chance of raising the rent on my new incoming tenants because it didn't come to mind until very late in the interview process. I didn't write about my previous tenant's sudden decision to move out in December 2017 after 1.5 years, because they provided a relatively seamless transition by introducing their longtime friends to replace them. I didn't miss a month of rent and didn't have to do any marketing, so I felt I'd just keep the rent the same.
I’m looking at accepting a professor job. It’ll be more than a 50% pay cut. But I’ll have the same life you describe – endless summers and an entire month every winter to ski. I’m thinking in the end, eventually, I might even end up wealthier in more ways than one. Happy people tend to be the most successful. I have no desire to diversify. Dividend stocks allude me. CDs seem like a good choice for older people, but I have time on my hands and real estate knowledge, so I’m sticking with what I know, despite the fact that most people will tell me it is foolish and I should diversify.

The thing is, I’m not talking about buying brick-and-mortar buildings. I tried that many years ago with my father-in-law, and with devastating results. We tried to buy a duplex once, and the deal fell apart after we realized we weren’t really prepared for the purchase. I secretly wanted to become a landlord, but at the same time, I knew it wasn’t for me.
I’m on board with having more than one source of income, but I definitely want to make my “extra” income as passive as possible. I don’t want to end up pushing myself to always earn more, more, more and never enjoy the life I have. Having said that, it’s nice to have the security blanket. My blog doesn’t earn much, but I also know it could earn more if I really needed it to. It also helps to l

As interest rates have been going down over the past 30 years, bond prices have continued to go up. With the 10-year yield (risk free rate) at roughly 2.55%, and the Fed Funds rate at 1.5% (two more 0.25% hikes are expected in 2018), it’s hard to see interest rates declining much further. That said, long term interest rates can stay low for a long time. Just look at Japanese interest rates, which are negative (inflation is higher than nominal interest rate).

Indoor air pollution resulting from the use of solid fuels [by poorer segments of society] is a major killer. It claims the lives of 1.5 million people each year, more than half of them below the age of five: that is 4000 deaths a day. To put this number in context, it exceeds total deaths from malaria and rivals the number of deaths from tuberculosis.Source 15
Well written piece, but I question the core premise. Why the fascination with maximizing “income” (passive or otherwise). Shouldn’t the goal simply be to maximize long-term after tax growth of your entire portfolio? If this takes the form of dividend paying stocks, so be it. But what if small caps are poised to outperform? What if you want to take Buffet’s or Bogle’s advice and just buy a broad market index like the S&P 500, (no matter what the dividend because you’ll just have it automatically reinvested to avoid the transaction fees).
Quick story: Remember that $1.18 I found in the couch? Even when that increased to $30 to $50 a day, it still wasn’t enough to live on. So I looked for other options. In August 2008, after people started to know who I was and how I could help them pass the LEED certification exam through my blog, I wrote an ebook. It included all the information I knew about passing this exam, and I sold it on my blog for $19.95.
British territorial expansion in India throughout the 19th century created an institutional environment that, on paper, guaranteed property rights among the colonisers, encouraged free trade, and created a single currency with fixed exchange rates, standardised weights and measures and capital markets within the company-held territories. It also established a system of railways and telegraphs, a civil service that aimed to be free from political interference, a common-law and an adversarial legal system.[108] This coincided with major changes in the world economy – industrialisation, and significant growth in production and trade. However, at the end of colonial rule, India inherited an economy that was one of the poorest in the developing world,[109] with industrial development stalled, agriculture unable to feed a rapidly growing population, a largely illiterate and unskilled labour force, and extremely inadequate infrastructure.[110]
Others may define it more narrowly, but to me, PPC arbitrage basically involves setting up PPC ads (via Google AdWords or similar platform) and directing the traffic that results from ad clicks to a landing page or straight to an affiliate link (which many platforms don’t allow anymore).  The goal is obviously to earn more from the affiliate income than spent on the ad clicks.  You aren’t adding any value, but merely earning more from traffic than what it costs you to generate that traffic.
Millennium Development Goals Report 2007 . The report importantly notes that As high as this number seems, surveys show that it underestimates the actual number of children who, though enrolled, are not attending school. Moreover, neither enrolment nor attendance figures reflect children who do not attend school regularly. To make matters worse, official data are not usually available from countries in conflict or post-conflict situations. If data from these countries were reflected in global estimates, the enrolment picture would be even less optimistic.
Index funds provide you with a way to invest in the stock market that is completely passive. For example, if you invest money in an index fund that is based on the S&P 500 Index, you will be invested in the general market, without having to concern yourself with choosing investments, rebalancing your portfolio, or knowing when to sell or buy individual companies. All that will be handled by the fund which will base the fund portfolio on the makeup of the underlying index.

Tax Deducted at Source (TDS) is a means of collecting income tax in India, under the Indian Income Tax Act of 1961. Any payment covered under these provisions shall be paid after deducting prescribed percentage. It is managed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service . It has a great importance while conducting tax audits. Assessee is also required to file quarterly return to CBDT. Returns states the TDS deducted & paid to government during the Quarter to which it relates.


Another benefit of investing in rental properties is the loan pay down. If you obtain a loan to buy the property, each month your tenants are paying off part of the loan. Once the mortgage on the property has been paid off, your cash flow will increase dramatically, allowing your mediocre investment to skyrocket into a full-fledged retirement program.
Not only that but in almost all other cases there is the illusion of influence, which is itself a psychological and emotional cost. If you invest in a business that your friend or family member is running, you can see how things can get messy. You have thoughts on how things should be done, they have competing thoughts, if things aren't going well… we know how this story goes.
"Rental properties provide a source of passive income and the possibility of overall appreciation of the property with tax advantages," Lou Cannataro, partner at Cannataro Park Avenue Financial, tells Bustle. "Our generation and those to follow will not have pensions, and social security is 'iffy,' at best. Rental properties can provide that constant income (people always need a place to live) that is not directly tied to the marketplace and one cannot outlive."
Infectious diseases continue to blight the lives of the poor across the world. An estimated 40 million people are living with HIV/AIDS, with 3 million deaths in 2004. Every year there are 350–500 million cases of malaria, with 1 million fatalities: Africa accounts for 90 percent of malarial deaths and African children account for over 80 percent of malaria victims worldwide.Source 9
A business thrives or fails depending on its marketing and system for generating leads. You need leads to make sales. No audience or exposure means you won’t get fresh faces checking out what your business does. Too many entrepreneurs spend all their time on the “busy work” and not enough on audience building. There are some great ways to build an audience and generate new leads:

It is hard to do both but you’re not supposed to. You’re supposed to get your safety net down THEN try to do high wire acrobatics above it – not set up the two at the same time. So get retirement and your emergency fund squared away, then consider the stock market (taxable) and real estate. There’s no rush! Don’t let others dictate your future because they don’t have the same priorities as you. 🙂


Dividends made sense 40 years ago as a relatively simple rule of thumb, but after all the work done by John Bogle with index investing, and academics with Monte Carlo sims and the 4% rule, dividend investing just isn’t the simplest, cleanest way to invest or receive passive income anymore. It’s actually significantly more risky compared to index investing, because dividend companies are a much smaller share of the total global economy compared to the broader indices.
The goal of creating multiple income streams should be to maximize your potential in each category available to you.  If you are just starting out, it really isn’t reasonable to expect you to generate tons of rental income.  However, if you start maximizing your income generating potential through your primary salary, you will find yourself having excess income that you can reinvest to generate additional income streams and earn more money.
I wouldn't think of a high yield savings account as a source of passive income but your savings should be getting something (less like Seinfeld syndication residuals and more like a commercial jingle residuals!). It won't make you rich but it's nice if your baseline, risk-free rate of return on cash is 1% or more. The best high yield savings accounts (or money market accounts) offer higher interest rate and there is absolutely no risk. CIT Bank currently leads the pack with the highest interest rate.
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Has this thought ever struck you mind as what if your boss fired you overnight, what your course of action would be? I guess the answer is NOTHING! You have no monthly pay checks coming in, how are you going to put roof above your family’s head? How are you going to manage the bills payment? What would you feed to your family? An answer to all this lies in darkness…complete darkness in that situation. But I have answer to this question, because I am my own boss managing multiple things and earning from all of them at a time, losing one would not be that big deal to me.
India became the world's third-largest producer of electricity in 2013 with a 4.8% global share in electricity generation, surpassing Japan and Russia.[224] By the end of calendar year 2015, India had an electricity surplus with many power stations idling for want of demand.[225] The utility electricity sector had an installed capacity of 303 GW as of May 2016 of which thermal power contributed 69.8%, hydroelectricity 15.2%, other sources of renewable energy 13.0%, and nuclear power 2.1%.[226] India meets most of its domestic electricity demand through its 106 billion tonnes of proven coal reserves.[227] India is also rich in certain alternative sources of energy with significant future potential such as solar, wind and biofuels (jatropha, sugarcane). India's dwindling uranium reserves stagnated the growth of nuclear energy in the country for many years.[228] Recent discoveries in the Tummalapalle belt may be among the top 20 natural uranium reserves worldwide,[229][230][231][needs update] and an estimated reserve of 846,477 metric tons (933,081 short tons) of thorium[232] – about 25% of world's reserves – are expected to fuel the country's ambitious nuclear energy program in the long-run. The Indo-US nuclear deal has also paved the way for India to import uranium from other countries.[233]
It also shows clearly why the median and the mean of the asymmetrical log-normal, even more so for a power law, differ and represent threshold conditions. One does not have to get into the mathematics to see that averages in an asymmetrical distribution do not convey the same degree of the “typical investor behavior” that they convey in a symmetrical distribution. How do you optimize your practice for the average investor if your own investor income and wealth data follow such an asymmetrical distribution?
"But for our jobs, for how we make money, I think many of us — most of us — have one way we make money. It can be very risky. I've really come to believe, and have done a lot of research over the years, that one of the best ways that we can create real, legitimate professional stability for ourselves is by choosing to cultivate multiple income streams.
became $1,000,000 during an 18 year period (about 3x better than Berkshire Hathaway). Five – ten shares, or more, invested in a ROTH Ira and held *consistently* come h..l or highwater, with dividends and splits reinvested, may provide you a very pleasant surprise in 20 years or so. Asset Managers often do better than the assets they manage. Eaton Vance (EV) and T. Rowe Price (TROW) also did exceedingly well over a 25 year period.
“Start-up time” required: Poor – Experienced niche site builders will be well versed with outsourcing certain tasks and running through the whole process very efficiently, but when you first start out, it can take a long time to earn your first dollar from a niche site.  Doing research, designing the site, writing content, and doing proper SEO work can all be very time consuming, and the payoff isn’t always something you can rely on.

The Tax Foundation is the nation’s leading independent tax policy research organization. Since 1937, our principled research, insightful analysis, and engaged experts have informed smarter tax policy at the federal, state, and local levels. We improve lives through tax policy research and education that leads to greater economic growth and opportunity.
Estimated GDP per capita of India and United Kingdom during 1700–1950 in 1990 US$ according to Maddison.[97] However, Maddison's estimates for 18th-century India have been criticized as gross underestimates,[98] Bairoch estimates India had a higher GDP per capita in the 18th century,[99][100] and Parthasarathi's findings show higher real wages in 18th-century Bengal and Mysore.[101][78] But there is consensus that India's per capita GDP and income stagnated during the colonial era, starting in the late 18th century.[102]
Connecting two entities is another great way to make extra money by spending less energy. So can always have an agreement with some business entity to give clients on referral basis and earn a commission. I recently hired a designer for some work and I asked him if he knows someone who can PRINT the designs for me. He referred me to his friend who done the printing work. I am sure he must have got some cut for the referral and there is nothing wrong in it. Its a smart way of earning money.

There was a time when CDs would produce a respectable 4%+ yield. Nowadays, you’ll be lucky to find a 5-7 year CD that provides anything above 2.5% The great thing about CDs is that there are no income or net worth minimums to invest, unlike many alternative investments, which require investors to be accredited. Anybody can go to their local bank and open up a CD of their desired duration. Furthermore, a CD is FDIC insured for up to $250,000 per individual, and $500,000 per joint account.
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Once I started blogging and connecting with other bloggers in the personal finance space, I saw how much potential was out there. And honestly, how much money some bloggers were making really shocked me. I distinctly remember one blogger telling me his website was making $30,000 per month….and this was 2009! To say this blew my mind is an understatement of epic proportions.
One thing I notice about the debates on both tax policy and income inequality is that a lot of people seem to have relatively hazy ideas about how income is earned in America, and how much of each kind of income there is. For example, if someone is earning $300,000 a year, where is their income likely to be coming from? How much revenue is drawn from capital gains taxes? And how is income distributed between corporate shareholders and workers? People don't tend to have very strong priors about the answers to these questions, because they simply haven't yet learned what the relative sizes of different sources of income actually are.
Are you sitting at home and wondering how you can bring a little bit more money into your home? Well, you can keep a steady stream of reliable income flowing in with multiple streams of income.  It’s not hard to do, and just one idea can spark other income potential and generate multiple steams of income.  Diversifying your income is a great way to be able to set a little bit aside for a rainy day.
I just can’t seem to get my head around creating my own online product. When you talk about it, you make it sound like its mostly just about putting in the time and plugging away at it. Problem is I can never seem to come up with any ideas for a site or product that seem remotely unique or compelling or that I have any special knowledge about. The stuff I do know about is pretty commodity type knowledge that can mostly be found on thousands of sites on the internet already. Any tips on discovering what your “unique angle” is? I mean, you have a pretty compelling and somewhat unique personal story of working on wall street and then walking away at a young age.
1. The batting cage idea is very risky. I’ve seen many of them close over the years and it is not anything close to passive income if you want to keep the business going. You have to continually promote it and target youth leagues, coaches, schools etc to catch all of the new players who grow up and want to play. I’ve played at probably 8 batting cages over the years and 7 of them closed.

I see you include rental income, e-book sales and P2P loans as part of your passive income. Do you not consider your other internet income as passive? Is that why it’s not in the chart? Or did you not include it because you would rather not reveal it at this point? (I apologize if this question was already answered – I didn’t read through all the comments, and it’s been about a week since I actually read this post via Feedly on my phone)
Do you know Music ? Are you an expert in Maths ? Vedic Maths ? Yoga or may be cooking ? Do you live in a residential society which has 100’s of other families? Then tutions is a perfect thing you can start give you are good at what you claim to. You can always dedicate 2 hours (if you really have them) and do some basic advertising in your apartment or nearby places and take students to teach them at home. The best part of this kind of tutors is that you refresh your dying knowledge, earn some money at the comfort of your home and you kill time which goes into unproductive things most of the times. myprivatetutor.com is a good place to register and start with.
Ever since we have opened our doors to the world, there have been more jobs and significant economic growth, but we also have to weather every hurdle thrown at the rest of the world. If you watch the Indian stock market these days, most of it is ruled by FIIs (Foreign Institutional Investors). Therefore, the best we can do is plan for crisis situations in your own home.
These numbers seem counterintuitive for most of us in the financial advice industry. Do we not expect our contribution to the investor’s welfare to be proportionately larger than what these numbers show? Is the median annual income from financial capital really this small? Will this pattern — representing the prior generation — hold true of the baby boomers?
[…] For those who are regular readers of my site, you’ve probably noticed a recurring theme: I don’t like to talk much about fare cuts, I never complain about driving for Lyft/Uber and I never make excuses as to why I’m not earning enough.  For me, rideshare driving is something that I do for extra income, it’s not something that I depend on to make a living since I’m all about creating multiple sources of income. […]

With 1.27 billion people and the world's third-largest economy in terms of purchasing power, India's recent growth and development has been one of the most significant achievements of our times. Over the six and half decades since independence, the country has brought about a landmark agricultural revolution that has transformed the nation from chronic dependence on grain imports into a global agricultural powerhouse that is now a net exporter of food. Life expectancy has more than doubled, literacy rates have quadrupled, health conditions have improved. India will soon have the largest and youngest workforce the world has ever seen. At the same time, the country is in the midst of a massive wave of urbanization as some 10 million people move to towns and cities each year in search of jobs and opportunity. It is the largest rural-urban migration of this century. Massive investments will be needed to create the jobs, housing, and infrastructure to meet soaring aspirations and make towns and cities more livable and green.


One great way to generate a passive income is through affiliate marketing. Now, this does depend on the size of your list. Yes, size matters when it comes to your list. Especially if you're looking to make some serious money and do it on autopilot. But, list-building takes time. It doesn't happen overnight. And you need to add value to your list or you become obsolete.
No one should turn down wind farming’s ultimate passive income for the next 30 or more years … even 60 years when there is a positive cash flow on the sum total of all base payments when computing inflation for the next 60 years based on the previous 60 years, as long as the next era’s energy resource is not perfected (at which time they would not renew the option for the second 30 years).
The biggest surprise is real estate being second to last on my Passive Income Ranking List because I’ve written that real estate is my favorite investment class to build wealth. Physical real estate doesn’t stack up well against the other passive income sources due to the lack of liquidity and constant maintenance of tenants and property. The returns can be huge due to rising rental income AND principal over time, much like dividend investing. If you are a “proactive passive income earner” like myself, then real estate is great.
Having discussed why it is important to have a second source of Income, let me now highlight some of the sources of a second income or second income ideas. A second source of Income typically means having regular income from a source other than your primary one. This means, if you belong to a salaried class, you might want an income from some other source and if you are from a business class, you might want an income from some other business. You can be as creative as it gets. Some good sources of Income are highlighted below:
A lot of people these days are moving towards the two job concept. Amongst the people i know who have applied this in their life; the primary reason is that the 9 to 5 job pays their bills, lets the fire burning in the kitchen, and the second job is where their passion lies. This is the passion, which might have been forgotten while growing up, or is not a viable primary income source.
In India Freelancing is synonym with Journalism but trust me its a very big industry abroad. Freelancing is full time career for many professionals. In India its at nascent stage and Freelancing is not a highly paid job. Positive way to look at it is that if you start today then you will have 1st mover advantage. Freelancing jobs are available in various domains. One of dedictaed Indian site for freelancing job is worknhire.com
Roosevelt saw the economic Bill of Rights as something that would at least initially be implemented by legislation, but that did not exclude either the Supreme Court's development of constitutional jurisprudence or amendments to the Constitution. Roosevelt's model assumed that federal government would take the lead, but that did not prevent states improving their own legislative or constitutional framework beyond the federal minimum. Much of the groundwork had been laid before and during the New Deal, but left many of the Second Bill of Rights' aspirations incomplete. Internationally, the same economic and social rights were written into the Universal Declaration of Human Rights in 1948.
I just can’t seem to get my head around creating my own online product. When you talk about it, you make it sound like its mostly just about putting in the time and plugging away at it. Problem is I can never seem to come up with any ideas for a site or product that seem remotely unique or compelling or that I have any special knowledge about. The stuff I do know about is pretty commodity type knowledge that can mostly be found on thousands of sites on the internet already. Any tips on discovering what your “unique angle” is? I mean, you have a pretty compelling and somewhat unique personal story of working on wall street and then walking away at a young age.
Freelance writer: If you have a knack for writing, you can earn great money writing for others. Not sure how to start? Contact bloggers, who are always looking for great writing. As blogs grow, they can afford to pay freelancers good money for quality articles. Websites looking to build links also hire freelancers to write guest posts to be published on blogs and websites.
Under British rule, India's share of the world economy declined from 24.4% in 1700 down to 4.2% in 1950. India's GDP (PPP) per capita was stagnant during the Mughal Empire and began to decline prior to the onset of British rule.[103] India's share of global industrial output declined from 25% in 1750 down to 2% in 1900.[78] At the same time, the United Kingdom's share of the world economy rose from 2.9% in 1700 up to 9% in 1870. The British East India Company, following their conquest of Bengal in 1757, had forced open the large Indian market to British goods, which could be sold in India without tariffs or duties, compared to local Indian producers who were heavily taxed, while in Britain protectionist policies such as bans and high tariffs were implemented to restrict Indian textiles from being sold there, whereas raw cotton was imported from India without tariffs to British factories which manufactured textiles from Indian cotton and sold them back to the Indian market. British economic policies gave them a monopoly over India's large market and cotton resources.[104][105][106] India served as both a significant supplier of raw goods to British manufacturers and a large captive market for British manufactured goods.[107]
3) Create A Plan. Mark Spitz once said, “If you fail to prepare, you’re prepared to fail.” You must create a system where you are saving X amount of money every month, investing Y amount every month, and working on Z project until completion. Things will be slow going at first, but once you save a little bit of money you will start to build momentum. Eventually you will find synergies between your work, your hobbies, and your skills which will translate into viable income streams.

One of the most enjoyable ways to make more money is to turn your hobby into a paid side project – this way, you spend your spare time doing something you love whilst contributing towards your financial goals. There are plenty of different ways to convert your passion into cash, whether you turn it into a service or use it to make a sellable product. If your hobby is knitting, for example, you can sell your creations online through sites like Etsy or at local craft fairs. Equally, if you love animals, why not offer a local dog-walking service?
Since David may never be coming back to this site, If anyone other than David can point me in the right direction, Id greatly appreciate it. I live in Chicago, and I need to buy a quality rental to hold long term somewhere but I have no idea where, and I really don’t want to buy in Chicago. Chicago is insanely corrupt and in HUGE debt. I cant leave Chicago in the near term, I take care of an aging parent, and if I left, my salary would drop by 50%. Id still like to diversify into a rental property.. but I feel that if I just call up a stranger, they’d attempt to sell me their best pig with lipstick, and pressure me to jump on the deal before someone else ‘stole’ it. I have no problem hiring a property inspector from a different city, but don’t want to waste hundreds of dollars if the agent is steering us towards crap property after crap property. I’m looking for broad advice. Any constructive reply appreciated. Thanks guys.
The goal of creating multiple income streams should be to maximize your potential in each category available to you.  If you are just starting out, it really isn’t reasonable to expect you to generate tons of rental income.  However, if you start maximizing your income generating potential through your primary salary, you will find yourself having excess income that you can reinvest to generate additional income streams and earn more money.
If you happen to be a photography enthusiast, consider selling your photos to stock-image websites like Shutterstock, Alamy, and iStockPhoto. The demand for high quality pictures in commensurate with the competitiveness of this business. So, if you find a niche (such as landscape photography or business photography) and establish yourself as an expert in it on even one site, you can certainly earn a lot of money in your sleep.
Although renting out your room or home can also be a side hustle to make extra cash, it's also a great source of passive income. However, another route to go is to get an income property just for the purpose of renting it out. This is even better if you live in a touristy area, because you can probably make even more than usual during the high tourist seasons.
Starting in 2012,[clarification needed] India entered a period of reduced growth, which slowed to 5.6%. Other economic problems also became apparent: a plunging Indian rupee, a persistent high current account deficit and slow industrial growth. Hit by the US Federal Reserve's decision to taper quantitative easing, foreign investors began rapidly pulling money out of India – though this reversed with the stock market approaching its all-time high and the current account deficit narrowing substantially.[citation needed]
What I Do: I’ve set up multiple investment accounts outside my main operations bank that deals with working capital e.g checking, paying bills. By transferring my money to a couple brokerage accounts and two other banks as soon as it hits my main bank I no longer have temptation to spend on frivolous things. As a result, I can wake up 10 years later and reap the rewards of compounding. My 401(k) is the best example where constant contributions over 18 years has grown to over $500,000 without any savings pain given it just became a part of life. Real estate is also a fantastic asset class for the long term. It’s fantastic to enjoy your home, pay down your mortgage each month, and end up with a paid off asset that has likely appreciated during your time of ownership. 
I just started out with Affiliate Marketing (idea # 8) and it is not as easy as people make out to be. For me the hardest part so far is learning Search Engine Optimization (SEO) and driving traffic to my website. I m only 3 months into it, but I am confident that the site will begin to generate some income, I have give it 6-9 months, so we’ll see.
The most liquid of the private investments are investing in equity or credit hedge funds, real estate funds, and private company funds. There will usually be 6 month – 3 year lockup periods. The least liquid of the private investments are when you invest directly into private companies yourself. You might not be able to get your money out for 5-10 years, depending on the success of the company and upcoming liquidity events.

Do you know Music ? Are you an expert in Maths ? Vedic Maths ? Yoga or may be cooking ? Do you live in a residential society which has 100’s of other families? Then tutions is a perfect thing you can start give you are good at what you claim to. You can always dedicate 2 hours (if you really have them) and do some basic advertising in your apartment or nearby places and take students to teach them at home. The best part of this kind of tutors is that you refresh your dying knowledge, earn some money at the comfort of your home and you kill time which goes into unproductive things most of the times. myprivatetutor.com is a good place to register and start with.
I have several streams, which is really nice because you never know when one will dry up. I think I will be losing one of my contract optometry positions later this year. It sucks because I like the job, but it won’t be financial ruin. Even if you have a secure job, the side income does allow you to meet goals faster. I don’t think I’d ever go back to relying on one job, even if it was awesome.

For a person working for a wage, their source of income is their job, or their labor (aka their time that they sell to someone). But you can own a house, and rent it out, and when your renters pay you renter every month, the source of that income check is your rental property, or your house. It would just be called rental income. If you have money in the bank in an account that pays interest, those interest payments are another source of income. We can say the source is interest payments, or we can identify the asset that is generating rent, and say your money in the bank that is generating “rent” (aka interest) is your source of income.
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