Residual Income: Residual Income is the Smart Money
Residual income (also called passive or recurring income) is income that continues to pay you after the initial effort has been expended. Most people focus on earning active income, which is "one-shot" compensation or payment in the form of a fee, wage, commission or salary. You keep working in order to be paid!
Active income is directly proportional to the number of hours invested in it (40 hrs. of pay for 40 hrs. of work). Residual income, on the other hand, does not have such a relationship with time. Once things are set in motion, you continue making money from your initial efforts, while gaining time to devote to other things... such as generating more streams of residual income!
Let’s look at some ways of earning residual income.
1) Purchase an office building or other real estate property that earns you recurring income through lease or rental payments.
2) Be a writer for books, movies or songs and earn royalties.
3) Draw income from a business investment where you don’t have to be present to earn it. The above ways of earning residual income generally aren't that easy to implement. You either require discretionary income or you must have some talents.
Following are some that are more attainable for the average person:
1) Start a savings and investment program that pays you residual income in the form of interest or dividends.
2) Join affiliate programs, they come in various forms - referral, reseller, distributor, network marketing. Keep in mind that many affiliate programs offer a “one-shot” payment and not a recurring income. Some, however, do offer great opportunities for earning residual income.
Some final words, a good job does not give you residual income. You may want to decide a path that transitions from active to residual income over time. It’s hard to start a new business and create residual income tomorrow so you have to start looking and make changes.
I'm not against earning some good, honest, "one-shot" active income, but given a choice, which would you rather do: work hard and get paid only once, through active income, or get paid continuously - perhaps for years or even the rest of your life - for hard work you perform only once, through residual income?
To find out more on how you can create residual income by partnering over 1000 well known stores like Walmart, Home Depot, Apple, Expedia, Sears, and many more, contact us today!