Residual Income - A Life Changing Resource-By: John Weir

Residual Income - A Life Changing Resource

While unemployment rates in the United States and the world at large seem to be growing very high, the economy is showing signs of turning around. According to labor statistics, the unemployment rate stayed relatively steady at 9.7 percent in March 2010, or about 15 million are still unemployed. Helping to move our economy in the right direction are the many people searching for new and better ways to make money, and to put freedom and control back into their hands.

We still have a long way to go. We have learned a lot during this recession, the largest worldwide contraction since the Great Depression that started in about 1929 and lasted until the late 1930s or early 1940s. Many People have lost their faith in the job system built upon traditional corporate careers. A few have put extra effort in self education, trying to keep their skills in demand as technology and economic factors change the business landscape.
Often, after months of collecting unemployment, many end up taking low paying or part-time jobs just to make ends meet. They end up questioning their ideas about welfare, security, happiness and success. Relatively few keep looking for ways to supplement their reduced incomes, trying to replace their incomes entirely with a new line of work, or a new business venture.
Problems the majority are discovering, trying to use old ways in this changing economy include the limited control they have over their income. Get laid off, no money. Get your hours reduced, less money. Your company makes a few mistakes resulting in less demand for your products and services, no matter how hard you work. No matter how good you are, you spend more of your waking hours trying to support yourself and your family.

One of the most frequent search terms on Google is "home based business." Many people no longer trust getting paid a set amount of money in exchange for performing duties in a job description. Even the regular trade jobs like plumber or electrician turn many off due to the limited way they earn a set amount of money for each individual job they perform.

Best selling author of Rich Dad Poor Dad Robert Kiyosaki said, "Our schools teach us nothing or very little about money. We are trained to be employees, to go to ask somebody for a job. We are not trained to be entrepreneurs or investors." Many Americans wonder why their best efforts get them unemployed. It is time to leave your old world thinking and look for a better way.

There is a better way, and those who go looking for it discover it is found in "residual income". Fortunately it is easier than you might think to find a source that makes a good fit for you.

Residual income is earned when you stop trading your time for money as in a regular job, and start thinking like an entrepreneur. The wealthiest people in the world get that way because they do not simply earn more money per hour, they get paid more than one time for what they do. You probably know that recording artists earn money whenever their songs are played. Or insurance agents earn money each month you pay your premiums, and authors get paid a percentage each time their books get sold. These are some examples of work that earns these people ongoing income for work they produced once.
You do not have to be a recording artist or best selling author to earn residual income, and the lifestyle that goes with it. One of the simplest and most effective ways to earn residual income is by building a business with a reputable direct selling company.
Direct selling is a business model where products and services are sold through a network of independent distributors. Insurance is a well known product marketed and sold in this manner. While a few companies sell direct most use a system of district managers and local agents who use a network approach to direct selling. Actually, almost every industry you can think of has companies that do business this way. As you sell those products or services you earn income, including residual income.

Robert Kiyosaki, author of Rich Dad Poor Dad said "I see network marketing as a great way of giving people the training to be entrepreneurial and have the entrepreneurial spirit without having to climb someone else's ladder, or live in fear of being fired or downsized."
So you may be thinking, besides unlimited earning potential and residual income, what other benefits are there in network marketing? Well you can work as much, or a little as you want. Many start part-time and grow their business while working a regular job. Some go full time as a choice, or necessity depending on their circumstances. You can get started with a small investment, usually less than $1,000. Purchasing the introductory presentation materials to start your business is affordable and simple. Many companies will provide great training and support as they want you to succeed.
Jim Rohn, America's foremost business philosopher often said " Profits are better than wages" It would be powerful for you to have a business of your own, and earn profits, both today and in the future, those residual profits. And it would be powerful knowing that you have created a reliable residual source of income in case another economic downturn hits? Are you ready to start down the path towards true financial security and freedom?

Why Residual Income Is Smart Money - And Ways You Can Earn It-by Marty Foley

Residual income (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended. Compare this to what most people focus on earning: linear income, which is "one-shot" compensation or payment in the form of a fee, wage, commission or salary.


Linear income is directly proportional to the number of hours invested in it (40 hrs. of pay for 40 hrs. of work), but one of the great advantages of residual income is that once things are set in motion, you continue making money from your initial efforts, while gaining time to devote to other things... such as generating more streams of residual income!


There are a variety of ways residual income can be earned. Following are some examples.


1) Transfer the rights to a book you wrote, a software program you created, a gadget you invented, or a song you recorded, to a company that agrees to pay you a percentage of each copy of your work sold in the future.


2) Become an actor and draw residual income from each of your movies, TV shows, or commercials, each time they run.


3) Let an oil company drill a well on your property in exchange for a percentage of the revenue.


4) Purchase an office building or other real estate that earns you recurring income through lease or rental payments.


The above ways of earning residual income generally aren't that easy to implement. Following are some that are more attainable for the average person:


5) Start a savings and investment program that pays you residual income in the form of interest or dividends.


6) Join associate programs.


Call them what you will: referral, reseller, affiliate, bounty or associate programs, they are very popular on the Internet. Some of them offer similar opportunities for earning residual income.


Companies arrange such programs to compensate reps, resellers, dealers, associates, affiliates (or whatever the designation used) for promoting their products and services.


Reps are generally given a unique I.D. number and/or web page or site, so the company can track the source of each sale and compensate the proper rep.


Keep in mind that many associate programs only pay one-shot commissions, rather than recurring, residual compensation for your efforts.


7) Create and market your own information products.


Self-publishing your own information products has several advantages over marketing through other publishing companies:


• You, as info-product creator, get 100% of the profit, versus a small percentage of royalties through traditional publishing companies, if they decide to publish your work at all.


• By gaining complete control over the marketing of your information products, you can profit from them for as long as enough viable markets (willing, able and accessible buyers) exist.


• By gaining complete control over the marketing of your information products, you can profit from them for as long as enough viable markets (willing, able and accessible buyers) exist.


Conversely, traditional publishers usually have so many new titles by other authors vying for their marketing budgets and attention that unless an author is well-known, or the work is a top seller, the author's work is not given much priority and is pulled from the market within year or two, thus fading into obscurity.