|
|
 |
|
|
Why do people settle for a salary when residual income can be so much greater? by Satina C
|
|
|
Why do people settle for a salary when residual income can be so much greater? by SATINA C
|
|
| Article Posted: 04/24/2014 |
| Article Views: 810 |
| Articles Written: 19 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 649 |
| Article Votes: 0 |
|
Why do people settle for a salary when residual income can be so much greater? |
|
|
|
|
|
Business Opportunities,Home Business,MLM
|
|
|
When people mention income, most of the time they think of salary, and they would not be wrong. Our life has become a cycle of working, earning and spending just enough so that we get by, and there is nothing wrong with that. Even before we were born, that cycle was already in place, and it was the cycle that we were introduced to and most likely are comfortable with. In the past few decades though, the term “residual income” has also come into the limelight, and people are curious about it, and rightly so. Residual income offers the possibility of earning more and ensuring the chances of retiring to a comfortable lifestyle. Residual vs. Salary So what is residual income? It is earnings known also by a few other names such as recurring or passive income. It is the type of income that continues on earning even after you are done investing the time needed to complete the work. Let us say your work is project based, but it pays residual income, and you have three projects in succession. As you continue to work on the second project, the first will continue to earn money so your earnings increase and even compound over time. How is this different from a salary? A salary is a payment based on how much work you put in. Let us say you have a job that has you working eight hours a day. You will be paid on an hourly basis, and the options to increase your income would be limited. You would either have to earn a merit increase that would increase your hourly earnings, or get a promotion. You will also have the option of getting another job as well, but that would just take away more hours from your personal life. Debunking the Theories of Residual Income Because of the way it works, people believe that residual income is a magic formula that one can apply at any time in order to get rich quick without doing much work. Both ideas: getting rich quick and not working much are wrong and need to be corrected. However, the sheer POTENTIAL to earn a substantial amount of money – and for it to be repeating once the business is off the ground – is a very real possibility. When you wish to use the idea of residual income, you have to plan ahead in order to get your idea off the ground, and then work to make sure that the business will sustain itself. It will take a lot of time at the beginning, but well worth that initial effort and time. Sources of Residual Income There are a lot of ways that one can earn residual income. The more common example would be writing a book, because royalties will continue to be earned as long as the copyright belongs to you. Then there are the investments such as the purchase of land and then renting it out. It will provide you with earnings, which you can further use to invest in stocks and bonds. Nowadays there is also the concept of multi-level marketing, which allows people to sell goods to others as well as convince others to sell the same goods. If one person recruits a few more people to sell the same goods, the recruiter gets a cut off the sales of his recruits. Some people think that the idea of residual income is too good to be true. But it really is an investment of time and money so that this would later on translate into security for yourself and your loved ones. The more time and effort you invest, the greater the returns you will have after the years of work, and you will get it with interest. For more information on one of the best home based businesses you will find, please click on http://satinac.toolsrock.com/index.html?
Related Articles -
mlm, residual income, business, low start up business, work from home, work for yourself, low investment business, work from home business, home based busines,
|
Rate This Article  |
|
|
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
| Reader Opinions |
|
|
|
|
|
|
|
|
|
| Author Login |
|
|
 |
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
SUSAN FRIESEN
Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, ...more
|
|
|
|
|
STEPHEN BYE
Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
|
|
|
|
|
SHALINI MITTAL
A postgraduate in Fashion Technology. Shalini is a writer at heart! Writing for her is an expression...more
|
|
|
|
|
ADRIAN JOELE
I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
|
|
|
|
|
JAMES KENNY
James is a Research Enthusiast that focuses on the understanding of how things work and can be impro...more
|
|
|
|
