In simple terms, residual income is passive income. It keeps coming in long after you did the work.
In contrast, ‘active income’ is what you receive in the form of wages or a salary when you go to or perform a job. And that last part is key – you have to go to work to earn your wages. Maybe not physically ‘go’ as in times of Covid-19, but you are putting in time and effort in order to receive an income.
Having residual income allows you to do more important things with your time. Such as:
– staying home if you don’t feel well – without worrying about not getting paid
– having time to care for elderly parents
– caring for a sick child
– having time to enjoy the things that matter most
– not trading time for money
And all the while – money keeps coming in…
With residual income, you don’t have to be present to reap the benefits. Examples include royalties from books, music, and movies, or rental income from real estate holdings. Say you’ve developed an online course and it’s available on your website just by clicking and paying the fee. You probably put in significant effort in the development stage, but once it’s up and running, there may be little to do in the way of maintenance. Yet, people keep clicking that button and you keep seeing that cash inflow.
You’ve probably been approached at some point in your life with a pitch for network marketing, or multi-level marketing, or direct sales. Examples include Amway and Avon. This is another avenue for residual income.
A regular contributor to Forbes.com wrote an article stating that “he believes MLM is one of the most significant solutions for retirement.” He didn’t say this lightly. It was only after extensive research. He went on to say, “I believe that the entire industry is poised for explosive growth and can be one of the most significant solutions to America’s current retirement savings crisis.”
With the number of baby boomers nearing retirement age and the realization that they won’t have enough money to see them through x-number of years, many retirees are seeking opportunities to start their own business. Why start from ground zero? Why not join an organization that’s been around for years and has a proven track record?
You don’t have to be of retirement age to take advantage of these opportunities. In fact, having a Plan B is always a good idea! Most people start while they’re still working full-time. Some people have been forced to accelerate their timeline due to layoffs or other hardships.
Given our current world with Covid-19 and many people out of work, this may be just the opportunity you need.
I’ve been working a side-gig for a few years. In all honesty, I haven’t really been ‘working’ it as a business though I use the products all the time. The company continues to improve and refine its offerings in the health and wellness industry. They also have a commitment to sustainable packaging and a philosophy of zero waste. They give back millions every year to such organizations as Make-A-Wish and their Legacy Foundation. They have received numerous prestigious business awards. And, the two Co-Founders along with their son (Chief Visionary Officer) just reinvested $35 million of their own money to retire $60+ million of the company’s debt and to further support its current growth trends and expanding operations.
If you’re seeking weight loss, vitality & well-being, or better performance; If you’re interested in learning more about this company and its offerings; or if you’re interested in boosting your income potential – let me know. Imagine what you can do with an extra $500 per month. Or more. How would your life be different?
Take a look: https://kegan.isagenix.com/guide And let’s connect!