If you're trying to find strategies to earn money without needing to punch a time clock or be in thrall to your business, residual earnings are the way to go. With residual earnings you put in some work setting up a business system which can run without your daily steering and kick back and watch the checks roll in.
Most folk in this world rely on an income and boss to get by. In order to stop being a wage slave, you could have to line up your own business. The difficulty is that many entrepreneurs trade one kind of slavery for another, as they end up spending each waking minute working on their business. That's's not freedom!
Think of residual earnings like an actor's, writer's or musician's royalties. They create a bit of work, receive payment for it and whenever it gets sold in the future they get a taste of the profits. Many an one-hit-wonder is living just fine off their royalties.
For those of us who are not insanely good looking or gifted in the arts the trick is to line up an enterprise that can run by itself, with help from outsourced workers or minimal steerage from you.
The drop shipping industry is based on the power of residual earnings. Folks find a wholesaler of a product, advertise that product and then sell it for a profit. They send their orders to the supplier who then ships immediately to the buyer. Properly set up with the right outsourced staff, all the business owner has to do is get the business set up and check in periodically.
The web also allows you to make this sort of living. By simply building a website and monetizing it through sales or advertising you'll continue to make money so long as you own the site.
The most powerful way to insure residual earnings for life is thru real estate investment. For a nominal investment in the property and performing any rehabilitation that must be done, you can hire out home or commercial real estate as long as you live. Barring a natural disaster or nuclear war your building will be standing long after you are gone. Not merely will you receive income for the rest of your life, but so will your heirs.
For those who don't feel like dealing with renters there is a entire host of pro management companies which will oversee the property and make sure you get your money. Of course you'll have to be willing to accept a touch less revenue in this position but it frees you from being forced to deal with your renters.
It's everyone's dream to live the good life. We would like to be in a position to spend time with our buddies and relatives and pursue our hobbies and interests all while being financially secure. The power of property investing and other hands off businesses offers you the ability to have it all through residual earnings.
Most folk in this world rely on an income and boss to get by. In order to stop being a wage slave, you could have to line up your own business. The difficulty is that many entrepreneurs trade one kind of slavery for another, as they end up spending each waking minute working on their business. That's's not freedom!
Think of residual earnings like an actor's, writer's or musician's royalties. They create a bit of work, receive payment for it and whenever it gets sold in the future they get a taste of the profits. Many an one-hit-wonder is living just fine off their royalties.
For those of us who are not insanely good looking or gifted in the arts the trick is to line up an enterprise that can run by itself, with help from outsourced workers or minimal steerage from you.
The drop shipping industry is based on the power of residual earnings. Folks find a wholesaler of a product, advertise that product and then sell it for a profit. They send their orders to the supplier who then ships immediately to the buyer. Properly set up with the right outsourced staff, all the business owner has to do is get the business set up and check in periodically.
The web also allows you to make this sort of living. By simply building a website and monetizing it through sales or advertising you'll continue to make money so long as you own the site.
The most powerful way to insure residual earnings for life is thru real estate investment. For a nominal investment in the property and performing any rehabilitation that must be done, you can hire out home or commercial real estate as long as you live. Barring a natural disaster or nuclear war your building will be standing long after you are gone. Not merely will you receive income for the rest of your life, but so will your heirs.
For those who don't feel like dealing with renters there is a entire host of pro management companies which will oversee the property and make sure you get your money. Of course you'll have to be willing to accept a touch less revenue in this position but it frees you from being forced to deal with your renters.
It's everyone's dream to live the good life. We would like to be in a position to spend time with our buddies and relatives and pursue our hobbies and interests all while being financially secure. The power of property investing and other hands off businesses offers you the ability to have it all through residual earnings.
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If you want to learn more about residual earnings and how to invest in commercial real estate, request your free copy of the 5-part video series "Commercial Real Estate Investing For Beginners."
