3 Ways To Earning Residual Income

The only way to have time and money together is by earning a passive or portfolio income also known as a residual income. This is a form of income whereby you do not have to trade time for money. Another way to put it is, doing the work once and getting paid over and over and over again, which then gives you time and money together. for example- When a musician creates a song, they put in months even years of hard work to have their song become a hit. Once they have done it, every time their song gets played on the radio or every time someone buys their c.d they get paid over and over and over again. Another example that we all can relate too is when someone buys a house and rents it out, known as an investment property. The person puts in the hard work to gather the money to buy the house, then puts in hours of travel and research to find the right house, some people even put in time to renovate the house so it increases in value and then they have to find someone to rent the house. Once the house is paid off, after all that time and hard work invested these people then get paid each month, over and over and over again giving them a residual income, where they no longer have to work but still have a stream of income. Investing in Shares is also another form if residual income because you do not have to trade time to earn the dividends on the Shares you own. Are you earning a residual income? Would youincome, increase income, residual income, online income, how to make money, how, how to, how to earn more money, how to earn more money, how to make money online, work at home, work from home, working from ho like to earn residual income?

Robert Kiyosaki (best selling author, financial teacher, global businessman and entrepreneur) says that there are 3 ways to develop residual income. (I recommend reading his best selling books Rich Dad Poor Dad and Cashflow Quadrant to learn more)

1. 1. Create a System - Corporations/Companies such as Bill Gates Microsoft, requires high capital investment, high risk and high skill.
2. 2. Buy a System - Franchises such as McDonalds, requires high capital investment, low risk and low skill because these systems are proven for success and you do not require much skill because franshises provide you with the education and traning.
3. 3. Join a System - Network Marketing systems also known as MLM (multilevel marketing), requires low capital investment, low risk and low skill.

Starting your own Network Marketing business does not require high capital investment, Infact there are many great Network Marketing Companies where you can start your own business for as little as $100. You do not have to give up what you are currently doing which means that the risk is very low. Thirdly and I think this is the most important point, you do not require much skill, most companies have an education and training system in place to train you to become a successful business owner. I recommend that if you are considering Network Marketing as your vehicle for success, do not focus so much on the products or the compensation plan, but make sure that the company has an education system in place and provides you with tools and training for you to succeed. Being educated will see you succeed over any product that you have to offer, because once you developed the skills, you will succeed with whatver product you have. Lets use McDonalds as an example, Can you make a better Hamburger than McDonalds? I think we all can, so why aren't we richer than McDonalds? Something for you to think about.