What is an INCOME?
An income is money received from work done. You must have a job or have something doing to earn an income.
Income is a reward for performing a task. People see income in different ways. Everyone wish to earn a high income so that they can live well and enjoy their lives.
I’m sure there is no one on earth who wouldn’t like to earn an income that will enable them to travel around the world with their loved ones.
However, I will like to let you know that earning a high income doesn’t make you rich. Yes, your Richies for a short period of time. You only get that money when you work at that moment. It cants secure your future in the long run.
Being wealth means even when you stop working or earning an income at a point in time, when you are old you have money working for you.
Having designer clothes or accessories doesn’t mean a is a rich person, soon those items will be out of fashion and you will need to work an extra to avoid the one in vogue.
A lot of people do not know how to manage money. When they get a huge sum of money, they begin to spend the money carelessly forgetting to save or invest the money for higher returns.
There is a difference between high-income earners and wealthy people. High-income earners have money for a short period of time while wealthy people have money for a long period of time.
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High-income earners don’t have assets. Whatever income that comes in is being squandered into expensive things and nothing is saved or invested at the end of the day.
Wealthy people have assets. They don’t have to chase money. Money works for them. Example of wealthy people is real estate owners, big production companies. Etc