Using active income to invest in assets which generate a passive income is a common strategy when working towards becoming financially independent. In this episode Dev unpacks:👉🏾 what is income👉🏿 assessable income vs taxable income (Check out episodes 094 to 099 on tax deductions)👉🏻active income and the pros and cons of it👉 types of passive income and the pros and cons👉🏼 maximising your income per unit time👉🏽 and a listener question: tips for reviewing and negotiating insurance policiesNote: The stock portfolio expense deduction used in the example was incorrect. It should be $1,250 not $12,500. You can check out the correct breakdown here.Altus Financial is for medical professionals who want to feel good about their finances. Visit https://bit.ly/altusm3m🛑 Please read our disclaimer + warnings before listening to this episode📝 Episode transcript: https://bit.ly/m3meptranscripts🏡 Join our facebook group for healthcare professionals💸 Quick links to our resources and $20 off The Glen James Spending Planmy millennial money medical is produced by SYMO interactive, home of my millennial money.