In this video, I am defining the different types of income and the variables that are present with the different income types.
These two variables, time and space, have a unique effect when we take into account the different income types.
There’s mobile and non-mobile income, active income, semi-passive income, and passive income.
Mobility & Space
Non-Mobile Income - Income that can only be generated in a specific geographic location. (Offline)
Mobile Income - Income that can be generated regardless of your geographic location. (Online)
We eliminated space as we moved from working in an offline environment to the online space, where we can connect to anyone from anywhere.
Passivity & Time
Active Income - Income that is directly linked to your time input.
Anything that pays an hourly rate is active income.
Semi-Passive Income - Income that is scalable independently of time input.
Passive Income - Income that requires no time input (and therefore no space).
To all my builders, I salute you!
