Residual Income - Extra Income Without The Extra Effort
Many of the wealthy have used residual income to become rich.
This has got to be hands down the greatest way to become wealthy.
Most people "try" to become wealthy by working harder & longer.
Working harder & longer can definitely make you more money but will not necessarily make you rich.
Think about it, there is only 24 hours in a day & there is only so much that you can do with it.
Wealthy people work smarter instead of harder & they even go as far as using other people's money to do it! They borrow money from banks & other lenders & rarely ever use their own.
If you are looking for a way to become wealthy or even financially secure then you will definitely need the power of residual income.
The best time to make residual income is when you already have a good flow of money coming in on a daily basis (immediate cash flow from a job or business).
You can then find a method that can give you an extra income stream to ad to your immediate income that doesn't require your constant efforts.
Here are a few examples of residual income: o Stocks & Bonds o Real Estate Rental Property o Limited Partnership (silent partner business) o Royalties o Direct Sales Commissions Most people try to remain safe by purchasing mutual funds but what they seem to overlook is that nothing is really safe.
There is no safe & secure money to be made outside a job.
However if you still have a burning desire to become wealthy then you will have to think like an entrepreneur.
All rich people are entrepreneurs (risk taking persons).
They have figure out that when you eliminate fear then there really isn't a risk in anything after all.
Do you think that they would have become rich if they didn't lose the fear? Most likely they were scared or even terrified at times but decided that the only way to financial freedom was to take calculated risks.
Working harder & longer can have negative effects in your life such as: o Stress o Illness & Disease (most illness & disease is caused by stress & most stress is caused by financial worries) o Lack of Time What good is it if you make a lot of money but have no time to enjoy it? Who do you think will enjoy your hard earned money after you die from exhaustion? Other people will but hopefully they are loved ones.
Wouldn't if be nicer if you could actually enjoy your money with loved ones while you are alive?
This has got to be hands down the greatest way to become wealthy.
Most people "try" to become wealthy by working harder & longer.
Working harder & longer can definitely make you more money but will not necessarily make you rich.
Think about it, there is only 24 hours in a day & there is only so much that you can do with it.
Wealthy people work smarter instead of harder & they even go as far as using other people's money to do it! They borrow money from banks & other lenders & rarely ever use their own.
If you are looking for a way to become wealthy or even financially secure then you will definitely need the power of residual income.
The best time to make residual income is when you already have a good flow of money coming in on a daily basis (immediate cash flow from a job or business).
You can then find a method that can give you an extra income stream to ad to your immediate income that doesn't require your constant efforts.
Here are a few examples of residual income: o Stocks & Bonds o Real Estate Rental Property o Limited Partnership (silent partner business) o Royalties o Direct Sales Commissions Most people try to remain safe by purchasing mutual funds but what they seem to overlook is that nothing is really safe.
There is no safe & secure money to be made outside a job.
However if you still have a burning desire to become wealthy then you will have to think like an entrepreneur.
All rich people are entrepreneurs (risk taking persons).
They have figure out that when you eliminate fear then there really isn't a risk in anything after all.
Do you think that they would have become rich if they didn't lose the fear? Most likely they were scared or even terrified at times but decided that the only way to financial freedom was to take calculated risks.
Working harder & longer can have negative effects in your life such as: o Stress o Illness & Disease (most illness & disease is caused by stress & most stress is caused by financial worries) o Lack of Time What good is it if you make a lot of money but have no time to enjoy it? Who do you think will enjoy your hard earned money after you die from exhaustion? Other people will but hopefully they are loved ones.
Wouldn't if be nicer if you could actually enjoy your money with loved ones while you are alive?
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