43. The Wealth Series, Part Six – Increase Your Income
Win Make Give with Ben Kinney
Ben Kinney Training
4.9 • 1.5K Ratings
🗓️ 5 June 2020
⏱️ 40 minutes
🧾️ Download transcript
Summary
You can start developing a long-term income plan when you know how much money you need today and for retirement. In episode four of Wealth Series 2.0, Ben Kinney, Bob Stewart, and Chad Hyams discuss the three types of income and ten ways to earn more money.
In this episode, we cover the following:
- Income you currently have [:45]
- Increasing your income [2:15]
- What is normal income? [3:30]
- What is investment income? [5:44]
- How the wealthy change their wealth [8:35]
- What is passive income? [9:03]
- What types of income do you have? [12:38]
- Workbook exercise on income [13:58]
- Calculating your future income [15:01]
- Stats on income [17:30]
- Ask for a raise [21:10]
- Explore company benefits [22:32]
- Investments that pay regularly [24:22]
- Rent things out [24:56]
- Side hustles [27:35]
- Teaching, training, or coaching [31:59]
- By-products [33:03]
- Sell stuff [34:38]
- Explore a second career [37:20]
- Reduce taxes [37:47]
- Reflecting on workbook questions [40:18]
- Calculate your hourly rate [42:10]
Resources discussed in this episode:
- Enroll in Wealth Series 2.0: https://WinMakeGive.com/wealth/ to receive all the workbooks and have the resources emailed to you directly
- Download the workbook and resources for Episode 4 at https://winmakegive.com/wealth-part-4/
- The Three Types of Income: https://apple.co/47MI8zB
- Win Make Give's FREE Net Worth Tracker: https://winmakegive.com/resources
- The Power of the Net Worth Tracker: https://apple.co/3smZ0gt
- Win Make Give Facebook group: https://www.facebook.com/groups/WinMakeGive
Connect with the hosts:
- Ben Kinney: https://www.BenKinney.com/
- Bob Stewart: https://www.linkedin.com/in/activebob
- Chad Hyams: https://ChadHyams.com/
- Book one of our co-hosts for your next event: https://WinMakeGive.com/speakers/
More ways to connect:
- Sign up for our weekly newsletter: https://WinMakeGive.com/sign-up
- Explore the Win Make Give Podcast Network: https://WinMakeGive.com/
- Listen to Win Make Give Season 3 on YouTube: bit.ly/3pPEdAx
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Part of the Win Make Give Podcast Network
Transcript
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| 0:00.0 | Welcome to the Wind Make Give Well Series. This is They are getting so good ladies and gentlemen. This is part six of the wealth series |
| 0:27.0 | Bob where have we been already? All right Ben so in episode one we talked about financial health and |
| 0:34.4 | building wealth and really focused on why we need more money than we might actually |
| 0:39.4 | think we need and then why most people don't build wealth over the course of their lifetime. |
| 0:45.1 | In our second episode, our financial reality check, we want to make sure everybody knows |
| 0:50.0 | where are you at today? |
| 0:51.5 | What is your actual net worth today? |
| 0:53.9 | So that as you take this course and you start implementing |
| 0:57.0 | some of these things, we can track and see how that changes. |
| 1:00.6 | In our third episode, we talked about a retirement check. |
| 1:04.3 | Are we on course to retire and live the lifestyle |
| 1:08.0 | that we'd like to live when we no longer have |
| 1:10.1 | some of those primary sources of income? In our next episode, episode four, we talked about |
| 1:15.8 | saving like crazy. What are some of the strategies and the tactics we can do to make sure that |
| 1:21.5 | we are saving money that we can then use to invest. |
| 1:25.0 | In episode five, student of wealth, we really focused on the idea of compound interest |
| 1:31.0 | and how time is such an important factor in our savings, but also just |
| 1:35.2 | what are you doing to actually educate yourself about wealth? Which brings us up to |
| 1:41.9 | today in part six. Chad, what are we going to talk about today? |
| 1:45.4 | All right, well Bob, you know, I'm thrown off a little here because usually I'm the guy who does all the recapping. |
| 1:50.6 | Yeah, you like a good recap. You've taken my role on all of this Bob as we're on to |
| 1:56.0 | this session which is increase income. Now before we get to the session and we start |
... |
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