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What is Residual Income?

Residual or should I say recurring income is something you want to have in your life. It is money that keeps coming with little to no effort on your part. Don’t get it twisted though; you have to put in the work in the beginning stages to set yourself up for residual success. Essentially you are putting in the work now so you can continue reaping the benefits for years to come.

So how do you get this wonderful residual income? It isn’t going to magically appear in your bank account so yeah you are going to have to invest. You will have to invest your time, money or both. Here are some ways to accumulate residual wealth:

Royalties: Have you written a book or song? Or maybe you have an invention that you want to share with the world and can sell it to a company that will run with it for you. Put your creative genius to work and collect those checks.

Investments: Stocks, Bonds, Retirement Plans!!! Invest your money in something that has the potential to collect interest and grow your money. I have to get my stocks and bonds game up and running sooner rather than later.

Networking Marketing: This is one of my favorites and I can help you be successful in this area if you have an interest in getting healthy and earning. Join me and be my business partner with Total Life Changes. You can visit my site directly www.totallifechanges.com/5819311 and contact me for more information.

Real Estate: Not there yet, but this will be part of my income streams in the very near future. You can very easily hire a property management company to run things for if you would rather just sit back and collect your checks.

So again you would be crazy to not want to have residual income in your life. I am working towards that goal every day to have my residual income be enough to sustain me if I decide I want to become a hermit. I would probably never become a hermit, but you get the point. Making a minimum of a six figure income in my sleep is on my list of financial goals within the next few years.

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