Dev Raga Personal Finance

216 active vs passive income

Mar 29, 2022

36:31

Using active income to invest in assets which generate a passive income is a common strategy when working towards becoming financially independent. In this episode Dev unpacks:

👉🏾 what is income

👉🏿 assessable income vs taxable income (Check out episodes 094 to 099 on tax deductions)

👉🏻active income and the pros and cons of it

👉 types of passive income and the pros and cons

👉🏼 maximising your income per unit time

👉🏽 and a listener question: tips for reviewing and negotiating insurance policies

Note: The stock portfolio expense deduction used in the example was incorrect. It should be $1,250 not $12,500. You can check out the correct breakdown here.

Altus Financial is for medical professionals who want to feel good about their finances. Visit https://bit.ly/altusm3m

🛑 Please read our disclaimer + warnings before listening to this episode

📝 Episode transcript: https://bit.ly/m3meptranscripts

🏡 Join our facebook group for healthcare professionals

💸 Quick links to our resources and $20 off The Glen James Spending Plan

my millennial money medical is produced by SYMO interactive, home of my millennial money.

Hosted on Acast. See acast.com/privacy for more information.