216 active vs passive income

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.Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement (PDS) and target market determination (TMD) and obtain appropriate financial advice tailored to your needs. The host of this podcast is an authorised representative of Money Sherpa PTY LTD, which holds financial services license 451289. To download the financial services guide, please visit: https://moneymoneymoney.squarespace.com/s/FSG-Dev-Raga-Personal-Finance-August-2025.pdf Hosted on Acast. See acast.com/privacy for more information.

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