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

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

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216 active vs passive income