Taxes
Passive income is the way to wealth. How does one start down the path of creating this type of income?
Passive income is the way to wealth. How does one start down the path of creating this type of income?
(1) Save a portion of your earned income (job) month in and month out. Try to make it 20% or more to expedite the situation. The faster you start saving, the faster you get toward not needing a job one day.
(2) Take those savings and invest it wisely in no-load index mutual funds that own income producing assets. Stick to mainly stocks, shelter from taxes when possible and stay diversified while keeping cost low, low, and low!
(3) Be patient. It will take time for your money to start making money, but in time, it will do just that. Compound interest is an amazing thing as your money starts making money! Learn more on this issue by reading What Color is the Sky. Financial freedom to follow!