I had a great day sharing ideas with the RCCG youths at Harmony Estate, Ogba. We talked about roadmap to wealth and how to have a guaranteed income generating systems both actively and passively.
The meeting exposed us to the importance of making sure our income streams consists of at least one active income stream and three passive income stream.
Active income is money you receive for doing work, for example salary, contract jobs etc. While passive income is money you receive while sleeping in other words money you make when you are not doing anything but it keeps coming.
Passive income can be made in five different ways
1. Shares – where you receive dividends .
2. Intellectual Properties/ talents such as books, cds, misic records, patents, etc where you receive royalty income.
3. Business systems– where you receive profits
4. Real Estates – where you receive rent.
5. Network marketing – where you receive commission.
To be financially free and have guaranteed real wealth, then you must be a major player in at least 3 of the 5 Passive income streams, if you are not here, you better start thinking about taking steps doing so.
For lack of time we decided to have another time together to talk more on this topic especially on the Network Marketing opportunity that is taking Nigeria by storm.
This opportunity excites me.
Points we took home
1. Have at least one active income stream and at least three passive income stream.
2. Tithing and the GOD factor is key to wealth security Ps1:1-3
3. Learn a skill from a professional in your area of interest.
4. Be decisive and determined.
5. Action! Action! Action!