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:
๐๐พ what is income
๐๐ฟ assessable income vs taxable income (Check out episodes
094 to
099 on tax deductions)
๐๐ปactive income and the pros and cons of it
๐ types of passive income and the pros and cons
๐๐ผ maximising your income per unit time
๐๐ฝ 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
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Dev Raga Personal Finance