INVESTOR LESSON #14
BASIC RULES OF INVESTING
Basic Rule Number One
“Investment basic rule number one,” said rich dad, “is to always know what
kind of income you are working for.”
For years, rich dad had always said to Mike and me that there were three
different kinds of income:
1 . Ordinary earned income is generally derived from a job or some form of
labor. In its most common form, it is income from a paycheck. It is also
the highest-taxed income, so it is the hardest income with which to build
wealth. When you say to a child, “Get a good job,” you are advising the
child to work for ordinary earned income.
2 . Portfolio income is generally derived from paper assets such as stocks,
bonds, and mutual funds. Portfolio income is by far the most popular
form of investment income, simply because paper assets are easier to
manage and maintain.
3 . Passive income is generally derived from real estate. It can also be
derived from royalties from patents or license agreements. Yet
approximately 80 percent of the time, passive income is from real estate.
There are many tax advantages available for real estate.
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