So what is residual income? Residual income or passive or recurring income is income that continues to be generated after the initial effort has been expended.
Compared to what most people focus on earning which is called linear income, which is payment in the form of a wage, commission or a salary where you trade time for dollars, such as you work 40 hours you get paid for 40 hours.
And if you think about how hard you worked in those 40 hours, do you think your wage reflects that effort? Probably not! One of the great advantages of residual income is that once things are set in motion, you can continue making money from your initial efforts, while gaining time to devote to other things...
such as generating more streams of residual income.
This is known as leveraging.
Residual income is known as smart money, and you can earn it.
You don't have to be rich, talented, well-educated or already a successful business person.
In fact many of the most successful people in the world were just like you and me, your average hard worker, who had a dream for a better life.
And guess what, they used residual income to get it! So how do you create recurring income.
Well let's get one thing straight, it doesn't happen over night.
It does take time, and effort, and it will only work on one very important condition.
You can not quit.
There is not one wealthy, successful business person in the world today who could say they got where they are by quitting.
Quitting is not an option, it is not in their plan, and it is not what got them where they are today.
Success is not an easy path, but then anything worth having does not come easy.
A concert pianist did not become brilliant by looking at a piano, they practiced, for hours everyday, day after day, year after year.
And while they may have sacrificed a lot to achieve their destination, the rewards are indescribable.
Same thing goes for a professional athlete.
He didn't wake up one day and say I can run faster than everyone else.
They did say, I want to be faster than everyone else, and then they set to work and made it happen.
Earning a passive income is no different.
You can't wake up and say you wish you were rich.
We can all do that, BUT, if you wake up and decide you want to be rich, then do something about it, then you are on your way to success.
It won't be easy and it will take time, so the longer you procrastinate, the longer it will take to build your recurring income to a point where you can give up work, travel, buy your new sports car, new house or what ever your dreams might be.
So what are you waiting for? Are you one who takes action or just talks about it? And it is a well-known fact that those who only talk do not get very far.
It's the doers that succeed, and the talkers who will watch from the side line.
Residual income can work for anyone - if they work for it.
It is actually amazing at the number of people who have never heard of residual income or understand what it is and how it works.
And the funny part is it really is not that hard to do.
Working a home based business that offers a residual income is a great way to get started.
You can work it full-time or part-time depending on your current circumstances, but it allows you to grow as your business grows, and remember, residual income is recurring, so as it grows, so does your free time to devote to other things.
Those things may be business, such as other income opportunities, or pleasure, such as that long overdue holiday for you and the family, what ever your reason why, if you make earning a residual income part of your plan, you will have success.
As long as you don't quit.
Compared to what most people focus on earning which is called linear income, which is payment in the form of a wage, commission or a salary where you trade time for dollars, such as you work 40 hours you get paid for 40 hours.
And if you think about how hard you worked in those 40 hours, do you think your wage reflects that effort? Probably not! One of the great advantages of residual income is that once things are set in motion, you can continue making money from your initial efforts, while gaining time to devote to other things...
such as generating more streams of residual income.
This is known as leveraging.
Residual income is known as smart money, and you can earn it.
You don't have to be rich, talented, well-educated or already a successful business person.
In fact many of the most successful people in the world were just like you and me, your average hard worker, who had a dream for a better life.
And guess what, they used residual income to get it! So how do you create recurring income.
Well let's get one thing straight, it doesn't happen over night.
It does take time, and effort, and it will only work on one very important condition.
You can not quit.
There is not one wealthy, successful business person in the world today who could say they got where they are by quitting.
Quitting is not an option, it is not in their plan, and it is not what got them where they are today.
Success is not an easy path, but then anything worth having does not come easy.
A concert pianist did not become brilliant by looking at a piano, they practiced, for hours everyday, day after day, year after year.
And while they may have sacrificed a lot to achieve their destination, the rewards are indescribable.
Same thing goes for a professional athlete.
He didn't wake up one day and say I can run faster than everyone else.
They did say, I want to be faster than everyone else, and then they set to work and made it happen.
Earning a passive income is no different.
You can't wake up and say you wish you were rich.
We can all do that, BUT, if you wake up and decide you want to be rich, then do something about it, then you are on your way to success.
It won't be easy and it will take time, so the longer you procrastinate, the longer it will take to build your recurring income to a point where you can give up work, travel, buy your new sports car, new house or what ever your dreams might be.
So what are you waiting for? Are you one who takes action or just talks about it? And it is a well-known fact that those who only talk do not get very far.
It's the doers that succeed, and the talkers who will watch from the side line.
Residual income can work for anyone - if they work for it.
It is actually amazing at the number of people who have never heard of residual income or understand what it is and how it works.
And the funny part is it really is not that hard to do.
Working a home based business that offers a residual income is a great way to get started.
You can work it full-time or part-time depending on your current circumstances, but it allows you to grow as your business grows, and remember, residual income is recurring, so as it grows, so does your free time to devote to other things.
Those things may be business, such as other income opportunities, or pleasure, such as that long overdue holiday for you and the family, what ever your reason why, if you make earning a residual income part of your plan, you will have success.
As long as you don't quit.
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