The first step to building wealth is making money. This step may seem elementary, but for those who are just starting out, or are in transition, this is the most fundamental step.
There are two types of income. Earned and passive.
Earned income comes from what you do for a living, while passive income is derived from investments.
Those beginning their careers or in the midst of a career change can think about the following considerations to decide how to derive their earned income
Consider what you enjoy. You will perform better and be more likely to succeed financially doing something you enjoy.
Consider what you're good at. Look at what you do well and how you can use those talents to earn a living.
Consider what will pay well. Look at careers using what you enjoy and do well that will meet your financial expectations.
Consider how to get there. Determine the education requirements, licenses or experience needed to pursue your options.
Taking these considerations into account will start you on the right path.
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