Types Of Income
1. Binary Income
2. Fixed Salary
3. Awards and Rewards
4. Direct Income
Binary income, in the context of finance or investments, typically refers to a type of investment strategy or financial instrument where the outcome or return is based on a binary (two-choice) proposition. It’s often associated with binary options trading, where investors speculate on whether the price of an asset will rise or fall within a specified time frame.
Fixed salary income refers to a stable and predetermined amount of money that an employee receives from their employer on a regular basis, typically monthly. This fixed amount is agreed upon in advance as part of the employment contract and remains consistent regardless of the number of hours worked or the performance of the employee.
Award / Reward Income
“Award / Rewards” generally refer to sporadic or occasional incentives or bonuses provided to individuals based on their performance, achievements, or participation in a specific program or activity. In various contexts, time-to-time rewards may be offered by employers, organizations, or businesses to motivate and recognize individuals for their contributions.
Direct income refers to the revenue or earnings that a person or entity receives directly from their primary sources of income. This could include salaries, wages, fees, commissions, sales revenue, rental income, dividends, interest, and any other payments received directly from customers, clients, employers, or investments.