How should one think about revenue and the source? Here's my point of view.
Revenue sources by age.
- Child - Parents 100%. One's parents are investing in one's potential.
- Adolescent - Allowance provided by parents.
- Teenager - Allowance and/or part time job.
- Young adult - Wages from employment or earnings from self employment.
- Middle age adult - Employment wages/earnings mostly and some investment income.
- Senior adult - Balance of employment earnings and investment income.
- Retired adult - Mostly social security, pension and investment income.
Importantly, revenue should be greater than expenses to be financially sound.
This is not financial advice. Please consult a professional advisor.
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