Curious about the difference between residual income and job income? Keep reading to learn the difference and understand the benefits of residual income.
Most people have not heard of residual income. That’s okay. Believe it or not, for a long time I didn’t know about generating different types of income either.
Earning money this way is not a big secret. People just tend to overlook this type of earned income. Trust me, you do not want to ignore this method any longer!
Really residual income is passive income. It’s money that you earn no matter what you are doing. You can be fast asleep and it’s still rolling in.
Yes this does really happen!
With passive income you can receive income from something you invested in days, months or even years ago. Usually the investment required your own time, money or both.
The initial investment is not an easy one. It takes time and lots of hard work.
I discovered residual income in Network Marketing. Luv it!
It definitely took time — years in fact — to establish a solid residual income. Here’s an interesting statistic, over 80% of women who earn a six-figure or more annual income do so in network marketing – also called direct sales!
Most of us have job income. We go to work, do our job and we get a paycheck for the work we did.
Job income is pretty straight forward. You are trading work for money. No matter what your work is, job income has one requirement…you have to keep working to get paid.
Nothing wrong with a job, work hard for your employer…I would simply suggest that ya be open to generating a second line of income (hopefully residual income). Think of this as “income insurance.”
I was in Corporate America for a long time until my services were not longer needed…and the crazy thing is when that happened, I was no longer paid! Can you believe that?? ???? Time for money. No time, no moo-lah!
Hey, work hard, just be smart and think long-term.
Why Aim for Residual Income?
Wouldn’t it be nice to earn money while not working? One of the great things about residual income is the ability to earn income while you do other things.
Maybe you would rather spend your time on a hobby, another job or spending time with family….with a residual income business you can still make money while doing any of these things. And no matter where you live!
Remember though, it’s not easy and it doesn’t happen overnight. Gotta work at it and be consistent over time.
There are a number of ways to earn residual income, here are a few:
Interest and dividends from bank accounts and stocks
Rental properties
Royalties from books, photographs and ebooks
Royalties from intellectual properties (think movies and songs)
Earnings from businesses that do not require owner involvement
Network marketing
Earnings from internet ads
Online affiliate programs
As I mentioned, initially a lot of time, effort, consistency and sometimes money is needed. However, this investment can allow you to get paid for your hard work long after your initial investment.
To learn more about residual income vs. job income check out the video and as always, leave your questions and comments below!
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