MONEY SERIES: PART 72

By: Tarun Prakash Srivastava, Sr. Executive Editor-ICN Group

LUCKNOW: Always remember a rule- Vertical Success is your success, so even after reaching the ultimate point of height, it can be abolished at any time while Horizontal success is your joint or consolidated success in which your contribution is very negligible, and therefore it remains in existence even after the abolishing of your personal qualification.

I am a legal practitioner and my entire business, even though I am running with the help of many of my colleagues, is dependent on me and I am completely dependent on my earned qualification and available time. If anything happens adverse with my merits, as if I become insane or lose my mental balance or if I go into a coma like a victim of an accident, or for some reason, I will be deprived of my memory; then my entire income will end immediately. This can also happen at the time when I leave to put my time in my business, as if I would go out of the country for a year or even die, all the income coming from my business would be stopped immediately and the tower of my success made of my personal abilities will collapse within a moment. This will happen because the income received from this business is my ‘active income’ and this income will come to me till I am working.

Now the appropriate time has come when I give you technical information about the nature of income.

Income is mainly of two types – first, ACTIVE INCOME and second, PASSIVE INCOME. The income, we have earned so far, was our active income which depends only on the work done by us and as soon as we stop doing our work, this income also ends. We have already seen that we earn money individually according to our earned qualifications in the ratio of the time given. It simply means that our income is dependent on the duration of our work and the ability to work. If we want to earn more money, either we will have to increase our hours of work or increase our abilities, but after a limit, the twenty-four hours given by God in one day ends and in our field of qualification, there is also a limit to acquiring maximum qualifications, after which no one of our efforts can increase our qualifications, therefore, the increase in this kind of income can only become on the basis of plus (+). Just look at the following equation:

2 Success + 2 Success + 2 Success + 2 Success   = 8 Success

Have you noticed?  This is our own personal effort, and it generates the income in the theory of plus (+) only, and as soon as, we stop of our effort, our income also stops.

Dr. Shashank is a good doctor and sits at his clinic every day, and his average income is Rs. 70,000 / – per month. This year he was continuously making his average income in the last three months, i.e., January, February, and March successfully, but he suddenly fell ill and could not contribute his time to his clinic in April. What will be the result? Let’s see:

January February March April Result  
Rs. 70,000/-  + Rs. 70,000/-    + Rs. 70,000/-    + 0     = 3 x Rs. 70,000/- = Rs. 2,10,000/-

One of my acquaintances Manas Shukla had a big General Items store, and he was earning income from it at an average rate of about Rs 1,50,000 / – per month. He got blindness in a road accident, and now he cannot see anything. Do you know what his monthly income is now? Now his far-popular store has been closed forever, and he is living the life of a helpless person. Now, his economic equation has become as under:

January February March April Result  
Rs. 1,50,000/- + Rs. 1,50,000/- + Rs. 1,50,000/- + Accident causing blindness    = Permanent loss of income

I am trying to explain to you through the above two examples that when you get only vertical success, your income is only dependent on you and as soon as your time or ability to earn your income is affected by any reason, your income is also affected in the same proportion. If the effect on your time and ability is temporary, then the impact on the income will also be temporary, but if this effect is of permanent nature, it affects your income permanently.

So we can say this:

Meaning of single income =

Time + Ability = Income
       100% income  

But the absence of either of time or ability or the absence of both, make your income zero, as is clear from the following table:

Time + Ability = Income
x Zero
x Zero
x x Zero

Tarun Prakash Srivastava

The writer is the author of book ‘Science of Money’ available on Amazon.com in English at http://bit.ly/Science-Of-Money  

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