https://www.youtube.com/watch?v=CCq8IW1OKfU&list=PLiRmKlHUWQJD930k1hI_Wgcllygr5UecY&index=7 Rental income refers to earning money by allowing others to use an item that is yours. For instance, if you own a home but do not currently reside in…
https://youtu.be/_fakvbHDjXQ It refers to the profit generated by selling goods or services for more than they cost to make or purchase. This is the point at which you can transition…
The term was first coined by Cyril Northcote Parkinson in a humorous essay he wrote for the Economist in 1955. To make it easier to understand Parkinson's law we shall…
https://youtu.be/wzEXoDQHtTU Royalty income occurs when you are paid even after your work is completed. It's the money you make for allowing others to profit from your ideas or properties. This…
https://youtu.be/f2qa9me8jWk When you sell an asset that has increased in value over time, you get capital gains income. Real estate and stocks are the most common, but there are many…