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In this episode, I begin discussing income and Net Worth.
The outline for this episode is:
Understanding Income
Money you earn
Weekly
Bi-weekly
Bi-Monthly
Monthly
Quarterly (Dividends & Interest(
From:
Wages
Retirement
Trusts
Social Security
Disability
Dividends & Interest
Business / Partnership
Loans
Income is the top portion of Net worth Statement
Net worth is
Assets
Income
(Debts)
= Net worth
Goal is to have more income than expenses and debt