Tuesday, June 5, 2007

The Power Of Passive Income - Temporary vs. Residual Income

Have you ever doubt why some people are able to earn unbelievable incomes and have the luxury time to enjoy the fruits of their labor, while others struggle just to make ends meet and find there are still insufficient hours in the day to do what they actually want to do?

Have these words ever spin in your head, "There's Got to be a Better Way!"

Well, the reality is out of the bag NOW! You are living the type of lifestyle that is not only determined by the amount of income you earn, but also the type of income you earn. Now do you realize that it sounds so basic… that we didn’t even think about it! Although there are numerous ways to earn income, in actuality, there are only 2 types of income.

There's TEMPORARY INCOME where you get the work done and then you get paid. And then there's RESIDUAL INCOME where you can do the work one time, but get paid for that effort over and over again - thus creating an ongoing CASH FLOW.

So what kind of income are you getting? TEMPORARY or RESIDUAL?

Uncertain? Ask Yourself…

  • If you are an employee, aside from prearranged vacation or sick days, if you don't go to work, do you still get paid?
  • If you are a professional, like a lawyer, doctor, or accountant, if you don't see your clients or patients, will they still pay you for your services?
  • If you are in sales, possibly real estate, cars or retail, if you don't show up to work, will your customers still pay you a commission?
  • If you own a small business, does it do equally well or better when you are not there?

If you get NO to any of those questions, then you are getting TEMPORARY INCOME.

Temporary income is wholly dependent on the total of hours you put in. Thus there is always a limit to the amount of hours you can or are willing to work. And therefore, there will always be a limit to the amount of income you can earn. The reality is that you can hardly accumulate wealth and enjoy true-life freedom by trading time for money. There are simply not enough hours in the day!

Are there any PROVEN ways to help you make the switch from TEMPORARY income to RESIDUAL income so that you can accumulate wealth, and have the quality time to enjoy your success?

And look out what is the “Biggest Unreality In Our Life”…

No comments: