Residual income is in the domain of the rich. While most people earn money proportional to the hours they spent working, the rich earn their money on a completely different way. Residual income is income that effectively generates itself and by doing the work once, you keep earning money for it over and over again. Imagine you can go to the office for a week and keep earning money for that working week for the rest of your life. To really improve your financial situation significantly you must seek out ways to increase residual income and change the way you look at earning money. After all, you don’t want to work so much that you can’t enjoy the money that you do earn.
The concept of residual income is alien to most people, especially for ‘nine to fivers’ who only know how to earn linier income where they work ‘x’ amount of hours and then get rewarded for it accordingly. The rich, however, earn residual income and they do not spend their time and effort working for money. They spent their time and effort building systems which in turn will do the WORK FOR THEM long after they completed the initial work setting up the system. The best part is that it will keep earning them money for a lifetime and beyond. Residual income is about working smarter and not working harder. It’s a completely different way of approaching and looking at wealth and earning money.
When you increase residual income, you increase your freedom and independence. When your residual income exceeds your expenses, you are financially free - meaning that regardless of whether you work or not, you will be able to maintain your lifestyle. The very fact of knowing that regardless of whether you work or not you will have no money concerns is indeed very liberating. Money is the one thing that can really drain people emotionally and if you ever though money is not important, then try not having any – it can consume al your thoughts.
Earning residual income sounds great and being financially free is indeed a great concept, but this begs the question of how you increase residual income in your life. There are many ways, but the important point is to start a.s.a.p. Earning residual income is about getting hooked on purpose. Once you get a taste of how great it is, it will compel you and encourage you to keep working on ways to increase residual income until you are financially free.
The most popular way to increase residual income is through real estate. If you buy a property and rent it out you can keep getting residual rental income without actually having to do anything. Similarly you can invest large amounts of money and earn residual income with the returns on your investment. Unfortunately, both these methods require significant amounts of cash and most people starting out on their journey to financial freedom simply do not have this.
Another great way to increase residual income in your life is to write a book, a song, a play or the script for the next Oscar winning movie. When you sell the rights to a publisher or producer, you will earn royalties month after month for the rest of your life. This is a very real and very powerful way to increase residual income and one that you can easily explore. It is not easy though. It requires a lot of time and a lot of talent and persistence.
There is however an alternative solution for the ordinary person looking for a no-fuss way to increase residual income. The answer lies online and I believe this is the golden highway for those who are committed to financial independence in the 21st century. It’s true that making money online has become a bit of an over-hyped idea, but it really does offer virtually anybody the opportunity to earn residual income – and lots of it. With or without a business you can turn to the internet to increase residual income through affiliate programs. If you already have a product or service, you can offer an affiliate program to leverage your own efforts and increase residual income. If you have no product or service you can take a piggyback ride on some of the most successful products and be rewarded for your efforts. You need virtually no money, very little time and only a basic knowledge to get started and gradually you can work yourself into a position of total financial freedom.
The internet is the ideal place to set up systems where you do the work once and it keeps working for you. It’s become so easy to automate virtually anything that you can set up certain systems in as little as half an hour. These very systems can continue to earn you hundreds of dollars each and every month - and all it took was half an hour’s work!
It really is true that in life we all ‘can’ – they real issue is whether we ‘will’. The answers are all out there and today they are more freely available than ever before. Regardless of how you choose to make your living and spend your time, when you increase residual income, you increase your lifestyle for life. It’s up to you. You can either work harder or you can choose to work smarter.
Article by Sincere-Advice.com
If you found this article please visit http://www.sincere-advice.com/residualincome.html to learn how you can set up multiple streams of residual income and leverage some of the best online strategies for earning residual income in your free time.
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