How to Enhance Your Net Worth Thru Residual Earnings
If you're looking for ways to earn money with no need to punch a time clock or be in thrall to your business, residual earnings are the way to go. With residual earnings you put in some work setting up a business system which can run without your day by day guidance and chill out and watch the checks roll in.
Most people in this world rely on a salary and boss to make a living. to stop being a wage slave, you could have to set up your own business. The difficulty is that many entrepreneurs trade one sort of slavery for another, as they end up spending each waking minute working on their business. That is's not freedom!
Think of residual earnings like an actor's, writer's or musician's royalties. They create a chunk of work, receive payment for it and whenever it gets sold in the future they get a taste of the profits. Many an one-hit-wonder is living just fine off their royalties.
For those of us who are not insanely good looking or gifted in the arts the trick is to set up an enterprise that can run on it's own, with help from outsourced workers or minimal guidance from you.
The drop shipping industry relies on the power of residual earnings. People find a wholesaler of a product, publicize that product and then sell it for a profit. They send their orders to the supplier who then ships immediately to the customer. Properly set up with the right outsourced staff, all the business owner has to do is get the business set up and check in periodically.
The net also allows you to make this sort of living. By simply building a website and monetizing it through sales or advertising you will continue to make money so long as you own the site.
The most powerful way to insure residual earnings for life is through real estate investment. For a nominal investment in the property and performing any rehab that must be done, you can hire out residential or commercial real estate so long as you live. Barring a natural disaster or nuclear war your building will be standing long after you are gone. Not merely will you receive income for the rest of your life, but so will your heirs.
For people who don't feel like working with renters there's a full host of pro management corporations which will oversee the property and ensure you get your money. Of course you'll have to be willing to accept slightly less earnings in this situation , but it frees you from having to deal with your renters.
It's everyone's dream to live the good life. We would like to be able to spend time with our family and friends and pursue our hobbies and interests all while being financially secure. The power of real estate investing and other hands off companies offers you the ability to have it all through residual earnings.
Most people in this world rely on a salary and boss to make a living. to stop being a wage slave, you could have to set up your own business. The difficulty is that many entrepreneurs trade one sort of slavery for another, as they end up spending each waking minute working on their business. That is's not freedom!
Think of residual earnings like an actor's, writer's or musician's royalties. They create a chunk of work, receive payment for it and whenever it gets sold in the future they get a taste of the profits. Many an one-hit-wonder is living just fine off their royalties.
For those of us who are not insanely good looking or gifted in the arts the trick is to set up an enterprise that can run on it's own, with help from outsourced workers or minimal guidance from you.
The drop shipping industry relies on the power of residual earnings. People find a wholesaler of a product, publicize that product and then sell it for a profit. They send their orders to the supplier who then ships immediately to the customer. Properly set up with the right outsourced staff, all the business owner has to do is get the business set up and check in periodically.
The net also allows you to make this sort of living. By simply building a website and monetizing it through sales or advertising you will continue to make money so long as you own the site.
The most powerful way to insure residual earnings for life is through real estate investment. For a nominal investment in the property and performing any rehab that must be done, you can hire out residential or commercial real estate so long as you live. Barring a natural disaster or nuclear war your building will be standing long after you are gone. Not merely will you receive income for the rest of your life, but so will your heirs.
For people who don't feel like working with renters there's a full host of pro management corporations which will oversee the property and ensure you get your money. Of course you'll have to be willing to accept slightly less earnings in this situation , but it frees you from having to deal with your renters.
It's everyone's dream to live the good life. We would like to be able to spend time with our family and friends and pursue our hobbies and interests all while being financially secure. The power of real estate investing and other hands off companies offers you the ability to have it all through residual earnings.
About the Author:
The members of The Real Wealth Company will share exactly what they have done to buy over $30 million worth of commercial real estate.