One of the greatest achievements of my life has been the fact that I’ve been able to earn residual income for decades now.
As someone who managed many of the famous rock stars that you meet today’s money for years, I learned something significant about earning money.
I learned that residual income is the greatest type because it’s income that you earn over and over again after doing something just once.
How Does the Average Person Get to Earn Residual Income
There are a few different ways available for earning this type of income.
The most important point is that you realize that it’s the best way to earn income in the world. Like a rock star who writes a song once and earns money for the rest of their life, you can do the same and earn in the same way. You don’t even have to be a musician.
Authors do the same with books.
Here are 3 Ways to Earn Residual Income in the Real World…
Insurance Sales – Yes believe it or not, insurance people get to earn a residual income is a sort of way. This is because once they sale a insurance policy they get paid monthly on the insured’s payments toward their policy. The problem with this is…well… you have to an insurance agent.
Real Estate – When you own real estate and rent it out, collecting monthly income from that property, then you’re earning passive monthly income. You really only had to rent the apartment out once and you collect rent each month after as long as the other person lives there.
The problem is do you feel like unclogging toilets and/or any of the other crazy problems that go along with it?
Network Marketing Home Business – The route I chose, and one of the greatest chances for you to earn residual income, is to become a network marketer and start your own home business. The beauty of network marketing for residual income is the fact that you don’t only earn this income off of your efforts but you actually get to earn an income from the efforts of your downline as well. That may be better than earning like a rock star actually.
Of course your downline can be as huge as you build it…but even if yours wasn’t great, if you got a couple of mavericks in your downline who did well then there you go. Their effort of recruiting, sponsoring, and training could very well pay off in droves.
The truth is that not very many people get to earn residual income. It’s rare because most people don’t seek it out. They get pushed into trading their time for money at a typical job, instead of leveraging not only their time but the time others.