Why Do You Want Residual Income?
Most of us are accustomed to working at a job, where we trade an hour of work for an hour of pay. The problem is, if you don’t work, you don’t get paid. Even higher income earners aren’t exempt, such as a dentist or lawyer. If they don’t show up to service a patient or client, they don’t earn a fee.
Some people, however, have mastered the concept of residual income, where they do work once but that work continues to pay dividends over and over again, for months or years into the future. An example is a musician or an author, who produce a song or a write a book, then continue to receive income from that work over and over.
Since most of us probably can’t sing that well or lack literary genius, there (fortunately!) are many things anyone can do to earn tremendous residual income from home.
It may take you a while to get used to the concept, believe it or not. We have been trained to work and get paid on Friday. You generally don’t make much, but it’s immediate. This is the hardest thing for most people to get beyond.
Building Residual Income From Home
Building a residual income from home is different. It takes a while. You have to work NOW to be paid LATER. But, once you get paid, you continue to get paid again and again. And each thing you do adds up, multiplying your results.
Before long, you’ll be able to enjoy a lifestyle that only very few people have achieved. Whether it’s quitting your job to spend more time with your family, retiring or travelling, it probably can only happen if you build such an income stream.
The Math Behind Residual Income
Imagine you are earning $2,000 per month residual income. Did you know that’s the equivalent of a half million dollars?
How? Remember, it’s residual. You are no longer working for that money, but you are continually paid.
Now, compare this to a wage-earner. He works for 45 years, saves every penny, and retires with a half million dollars. He’s rich, right? NO!
If he manages to earn 5% interest on that retirement account (a very aggressive return), he would make a little over $2,000 a month. OUCH!
You Can Do It
Today’s economy has created hard times for many people. Thus it is the perfect opportunity for you to take a new direction!
Working in your PJ’s has become an increasingly popular symbol of freedom from a job. But you must find the right opportunity. Many “work from home” ads are either scams or basically take you back to trading hours for dollars, usually at terrible rates.
A Better Alternative: Network Marketing
Now, you may be a fan of MLM’s, or maybe not. But before you scoff at network marketing, really consider the example above. How close are you to having a half million in your retirement account? Do you even have one? If you do, how guaranteed is it (think Enron, stock market crashes, real estate crashes)?
Network marketing, done the right way, is the absolute best way to create a permanent stream of residual income from home, create true wealth and financial freedom. It is about a lifestyle change, not just paying the bills.
I also recommend adding an affiliate marketing system which will provide you a quicker income, while building your network marketing business. It creates multiple streams of income in the short term, with long term residual income success. It’s truly the best of all worlds.
How Do You Get Started?
This all may sound complicated, but it really isn’t that hard. There will be some startup costs, but probably no more than a few hundred dollars, which is nothing compared to most other businesses.
Most important, however, is that you find a mentor who can coach you through the process, help you set up, and support and coach you in your efforts. Network marketing is a teamwork business, and you need a great leader. Read about some key individuals in the industry, and take their lead. If you are serious about building a residual income from home, you won’t have trouble finding all the support you need!
Karyn Weger is just such a mentor. If you're interested in working with Karyn, let us know!
Questions? Contact Me!