Over 90% of people the world over are only familiar with earning linear income.
Also known as active income or work income, basically you are trading your time for money.
You work a number of hours each week and get paid for the work you do within those hours. When you stop working, the pay stops.
Residual income is when you continue to get paid after the work has been done.
Once the work is complete and you've set everything in motion, you'll continue to make money from that source without the need for any more work. This frees up your time to do with as you please. If you're smart you'll be looking to generate more and more residual income.
It is the most powerful source of income there is and it's really how the rich become rich (and stay rich!)
Imagine discovering different ways of making residual income around your own work and building each one of them every month until they overtake your monthly wage.
You are now able to quit the 9 to 5 and focus a bit more time on building all of these revenues. They grow and grow. Doubling, tripling... you see where this is going?
You're already earning from the initial work you've done, but now you're adding to that and your residual income is building like an unstoppable force.
The best formats of residual income are ones that don't have you spending lots and lots of your time wth trial and error.
Basically, you need to leverage your time.
Use someone else's experiences of trial and error for your benefit and use someone elses tried and tested products.
More importantly make sure you don't have to be the one who has to be there to close the deal.
Here's one of my favourite sites that can get you started building excellent residual income:
The beauty of SFM is anyone can do it and you can start earning money pretty quickly.
For example, SFM commissions can pay you anywhere between $20 - $8000 plus residual earnings of $20 a month.
On top of those high pay commissions, you'd be amazed how the residual income can gradually build and build to the point where you could be earning the sort of money you've only ever dreamed of.
Please be prepared to put some work in. It's not just a case of clicking your fingers. But, if you really follow the steps correctly there will be nothing holding you back.
That's the exact question I asked myself once I found out about it.
The reason? Most of us live in the box we're told to live in. We are taught about the 9 to 5 and believe that's the only way life works.
We pay into pensions and think we'll be looked after.
Retirement reports are now saying that someone in their 20s would need to pay 12% of their regular salary into a pension to get a fairly decent income, while someone in their 40s would need to pay in at least 20%.
With high living costs, that will only get higher, many face working into their late 70s or possibly 80s before they can retire comfortably.
There are many wealthy people who decided to not only think outside the box, but to remove the box entirely and start building a residual income they can enjoy NOW and in the future.