Working for Money is Known as Linear Income!

Working for money is the hardest money you will ever have to make in your life. It takes a considerable amount time and effort out of your day to earn enough money to survive let alone try to leverage that money into wealth.

What is funny about linear income is that it seems the more money you make, the more money you spend. You always seem to have just enough money to survive each month, no matter how much money you earn.

As long as you show up for work on every day you need to be there and as long as you do a good job at it, you can count on your money coming in every month. An advantage of this is that you can use this known variable to calculate a pretty stable budget to help prepare you for a future of building wealth. This advantage of using your income from work to pay off liabilities and start purchasing assets can help you transition to the passive income side of the income types.

A serious disadvantage of working for money is that if you stop working, your income stops. This, as you can possibly imagine, can seriously jeopardize any chances you may have at succeeding because you will not be able to pay your bills and you will not be able to purchase assets.

The best thing about opening up passive income sources is that once the source of income is established, it never stops. Yes, you can have minor bumps in the road here and there from known variables (for example, damages or bad renters to your rental unit), but a passive income generally does not stop even though you may have to stop working for a few weeks due to illness or a family emergency.

Linear income can help you set up for wealth building success if you can free up some of that income to purchase assets, but you will eventually have to let go of the job mentality in order to truly become wealthy. Even if you are self-employed, to truly set yourself free, you must eventually transition your self-employment status to business ownership so you can walk away from it any time you want without hurting the income coming in.

Learn the different ways of working for money, their advantages, and their disadvantages so you can see if this is the area of income you are currently at. Learn as much as you can about linear income and passive income so you can know where to set your priorities when striving for success.

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