Within the financial portfolios of the wealthy, you find that much of their wealth is being created through sources known as "residual" or "recurring" sources of income.
Why do the wealthy depend on residual or recurring types of income?
When you work for wages or a salary, you are essentially exchanging your time for income. If you work 8-hours, you get paid for 8-hours; if you work a week, you get paid for a week. But if you don't work, you no longer get paid and your income ceases.
If you look at the residual income model, you see that your recurring income is based on completing separate individual tasks. Each task complete pays you over and over again independent of other completed tasks. You have done the work once, yet you continue to get paid without having to do anything more with the completed task.
With the extra free time you have (while still getting paid), you can work on another similar task and create a similar residual income stream for you. When you complete this second task, just like the first task you completed, you will receive residual or recurring income over and over without putting any more work into this task - just like the first task.
In effect, residual income sources provide you the optimum opportunity to leverage your time and abilities into creating additional - or multiple - streams of income. They also provide you the opportunity to spend more time with your family or doing what you enjoy doing without worrying about that next "pay check".
An additional benefit of the residual income model is financial security. In many of the residual income opportunities, you are an independent contractor, or self-employed, so you are your own boss. The only person who can fire you is you.
The unemployment rate is higher today than it has been in many years. And if you are employed, how secure do you feel that your job will be around forever and continue to pay you forever?
The residual income model puts you in the driver's seat and in control of your own financial security. You are your own boss, and you determine how and when you work, and how much you want to make. And the only person who can fire you is you.
So you think this is all fine and great, but the opportunities for creating residual income must only be available to the wealthy. This is not the case. There are residual income opportunities that are available for anyone.
One great place to learn more and get started yourself is to read my free report "Tactics4 Creating Residual Income". This report is meant to familiarize you with the concept of residual or recurring income, and to provide some information on how you might get started on creating residual or multiple streams of income for yourself.
I hope you will read it and then take that first step for creating residual income for yourself.
My best always...
Brian Stenum
Why do the wealthy depend on residual or recurring types of income?
When you work for wages or a salary, you are essentially exchanging your time for income. If you work 8-hours, you get paid for 8-hours; if you work a week, you get paid for a week. But if you don't work, you no longer get paid and your income ceases.
If you look at the residual income model, you see that your recurring income is based on completing separate individual tasks. Each task complete pays you over and over again independent of other completed tasks. You have done the work once, yet you continue to get paid without having to do anything more with the completed task.
With the extra free time you have (while still getting paid), you can work on another similar task and create a similar residual income stream for you. When you complete this second task, just like the first task you completed, you will receive residual or recurring income over and over without putting any more work into this task - just like the first task.
In effect, residual income sources provide you the optimum opportunity to leverage your time and abilities into creating additional - or multiple - streams of income. They also provide you the opportunity to spend more time with your family or doing what you enjoy doing without worrying about that next "pay check".
An additional benefit of the residual income model is financial security. In many of the residual income opportunities, you are an independent contractor, or self-employed, so you are your own boss. The only person who can fire you is you.
The unemployment rate is higher today than it has been in many years. And if you are employed, how secure do you feel that your job will be around forever and continue to pay you forever?
The residual income model puts you in the driver's seat and in control of your own financial security. You are your own boss, and you determine how and when you work, and how much you want to make. And the only person who can fire you is you.
So you think this is all fine and great, but the opportunities for creating residual income must only be available to the wealthy. This is not the case. There are residual income opportunities that are available for anyone.
One great place to learn more and get started yourself is to read my free report "Tactics4 Creating Residual Income". This report is meant to familiarize you with the concept of residual or recurring income, and to provide some information on how you might get started on creating residual or multiple streams of income for yourself.
I hope you will read it and then take that first step for creating residual income for yourself.
My best always...
Brian Stenum
About the Author:
Have you ever asked yourself "what can I do to earn some extra money?" If so, you will want to click here to discover some tactics for creating residual income for yourself! Check out Tactics4CreatingResidualIncome.com!
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