A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Side IncomeExtra money earned outside your main job, such as from freelancing, a side business, or a part-time gig.
- Financial PlanA written roadmap that maps your income, spending, saving, and investing to reach specific money goals over time.
- Generational WealthAssets passed down from one generation to the next, giving heirs a financial head start.
- Multiple Income StreamsEarning money from several sources at once, so losing one does not wipe out your entire income.
- Opportunity CostThe value of the next-best choice you give up when you decide to use your money or time on one thing instead of another.
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Plain-English education — not personalized legal, tax, or investment advice.