Income should be more than salary / myLot

Singapore

December 6, 2015 3:14am CST

Income and salary are entirely different matter. When you are working, and you get paid for working, that is a salary. Income includes salary, and all other money that is due to you. When you put money in the bank, and the bank pays you interest, that is your income. When you buy a house and rent it out, the rental income is another form of income. If your total income is the same as salary, you will be very miserable once you lose your job. You should make sure that you have other income sources other than salary. When you stop working, the income from other sources should continue to support your living expenses.

3 people like this

3 responses

Margaret Mwangi

@Missmwngi (12915)

• Nairobi, Kenya

6 Dec 15

Ha haa poor me i have never really paid attention to these two terms

1 person likes this

scheng1

@scheng1 (24649)

• Singapore

6 Dec 15

You will have to pay attention to your income sources. You are definitely not going to work forever, so you must have income sources that are not salary.

Jaymie Suh

@cherriefic (10399)

• Philippines

9 Jan 16

My income seems to be too low as the bank only pays a very small amount for the interest. I'm mainly dependent on my salary right now.

RayD

@Mbalie (316)

• South Africa

6 Jan 16

This is so true. Having various income streams enables one to have stress free lifestyle. You do not have to fear loosing your job and then not being able to cover daily living expenses.