What Is Residual Income? Creating Your Ideal Lifestyle
The question, "What is residual income" is often asked by people unfamiliar with network marketing.
Residual income is money that continues to come in after you quit working.
A retirement plan, for example, could be considered residual income.
So could social security.
Royalties from books or music represent residual income.
The question is, "How can I get some of this residual income stuff without waiting until I am too old to enjoy it? Of course, as mentioned above, royalty income from publishing books or music is one form of residual income.
But just in case you aren't a writer or a musician, there is another path to residual income.
One of the distinct benefits of network marketing is the possibility of establishing a residual income stream.
The concept is that you work once but get paid over and over again for that work so that even after you quit working, the income stream continues.
How can that be you ask? Network marketing involves working as an independent distributor for a company that does no conventional advertising for its products.
Instead, the independent distributor, you for example, sells the product or service by word of mouth.
When you recruit others to also sell by word of mouth and thus build what is known as a down line, a collection of independent distributors who are also selling the product or service, you can continue to get paid for that work well after you have ceased doing the work yourself.
So your next comment is "That sounds like a pyramid to me.
" Defining what makes a good MLM or network marketing company is outside the scope of this article but suffice it to say there are many very good, legitimate network marketing companies out there to choose from.
Look, let's be pragmatic about this.
You want nice things in life.
You want to take your family on nice vacations.
You want a nice car and a comfortable home.
You are going to work hard to have those things.
You have a choice.
You can work hard at a traditional job where you trade your time for money and hope that someday you will be able to retire with a pension (residual income) or you can accelerate that process.
The acceleration come from working hard for a few years, building a network marketing organization, and retiring at a much younger age than would have been possible by waiting for the pension.
You don't have to fire your boss today.
You can start part time and develop a replacement income over a period of 2 to 5 years.
Since you are going to work hard anyhow, why not work hard at building your ideal lifestyle so you achieve it at a young enough age to enjoy it.
You have that choice!
Residual income is money that continues to come in after you quit working.
A retirement plan, for example, could be considered residual income.
So could social security.
Royalties from books or music represent residual income.
The question is, "How can I get some of this residual income stuff without waiting until I am too old to enjoy it? Of course, as mentioned above, royalty income from publishing books or music is one form of residual income.
But just in case you aren't a writer or a musician, there is another path to residual income.
One of the distinct benefits of network marketing is the possibility of establishing a residual income stream.
The concept is that you work once but get paid over and over again for that work so that even after you quit working, the income stream continues.
How can that be you ask? Network marketing involves working as an independent distributor for a company that does no conventional advertising for its products.
Instead, the independent distributor, you for example, sells the product or service by word of mouth.
When you recruit others to also sell by word of mouth and thus build what is known as a down line, a collection of independent distributors who are also selling the product or service, you can continue to get paid for that work well after you have ceased doing the work yourself.
So your next comment is "That sounds like a pyramid to me.
" Defining what makes a good MLM or network marketing company is outside the scope of this article but suffice it to say there are many very good, legitimate network marketing companies out there to choose from.
Look, let's be pragmatic about this.
You want nice things in life.
You want to take your family on nice vacations.
You want a nice car and a comfortable home.
You are going to work hard to have those things.
You have a choice.
You can work hard at a traditional job where you trade your time for money and hope that someday you will be able to retire with a pension (residual income) or you can accelerate that process.
The acceleration come from working hard for a few years, building a network marketing organization, and retiring at a much younger age than would have been possible by waiting for the pension.
You don't have to fire your boss today.
You can start part time and develop a replacement income over a period of 2 to 5 years.
Since you are going to work hard anyhow, why not work hard at building your ideal lifestyle so you achieve it at a young enough age to enjoy it.
You have that choice!
