The Residual Income Formula

Once you understand the power of residual income, you will use all your spare time and money to build up residual income streams. In this post I will be outlining what I am doing to move out of the liner income trap of exchanging time for money.

Your Current Situation Is Not Permanent

Your life may not be looking like what you had hoped for it to become. Sometimes the flow of life can place us into financial difficulties. Adverse health conditions and events can affect our lifestyles and make us down grade to living on bare necessities.

At times like these we need to look within for the strength to survive. Nothing in life is permanent, if we don’t allow it to be. Some of are working multiple jobs to make ends meet.

Let me tell you that there is a brighter future awaiting you, if you decide to take action to make it your reality.

Don’t let your dream die, without giving it the wings to fly and soar above the invisible limitations you have place for yourself.

The Job (Just Over Broke) Mentality

The educational system is designed to create workers. The general knowledge picked up at schools and colleges is hardly ever used in anyone’s working life.

Most parents used to advise their children to get a good education and get a job that lasts until retirement. There are not many careers left that offer a job for life and incremental promotions and increase in salaries.

The only professions that enable people to earn a good living are to become a doctor, lawyer, accountant and a few other select professions.

This trading time for money works well for people is highly paid professions. They are paid well for the number hours they work and are able to put away money for retirement.

It is a completely different scenario for people working minimum pay jobs. They will most likely be working long hours to earn just enough to meet their monthly expenses. Most people in these types of jobs (the vast majority) will be living from payday to payday, with nothing leftover for the savings pot.

The days of getting a job after leaving school and retiring with it are over. If you decide to get a degree by studying at an University for 3 to 4 years, you will most likely end up in debt before you get a job.

Students get themselves in debts of $50,000 to $100,000 after taking out student loans to pay for their education. Sometimes it is hard to get the job they had hoped for, so they decide to take whatever is available.

All that money wasted on getting a degree and ending up working a minimum wage job. This job mentality is absolutely crazy. You need to get out of the job mentality and create your own future.

Don’t let your employer decide how much you get paid and how many hours you work. There is a way out of this trading time for money trap.

Battling Discouragement Every Day

Most companies are cutting down on permanent workers. They are downsizing and taking on freelancers and contingent workers.

They have to contribute towards pensions, health care and other benefits for their permanent work force. They also need to provide a ladder of increments for these worker to climb to keep them happy, paying them slightly higher wages every year and giving them higher ranking titles.

By outsourcing the work and bringing in contingent workers, the company can avoid these costs and still get the work done.

Unless you are part of the senior management team, your job will always be at risk. If you can be easily replaced by someone willing to work for a lower salary, you will most likely be replaced.

You will need to ask yourself this question “How easily can someone else do the job that I am currently doing?”. If you can answer this honestly, you will know your worth to the company.

I have been battling discouragement everyday. I know that I cannot rely on my current job to see me into retirement. I don’t want my income to be limited by the number of hours I work.

The Best Time To Fix Your Roof Is While The Sun Is Still Shining

I used to be fearful of what the future would be like working the job that I am currently employed in. I have decided to conquer my fears and build a new life for myself and my family.

I know that I need to get out of the liner income model, where the money is earned in exchange for my time. Even if I worked 24 hours a day, this income model will never get me to financial freedom.

If I was earning over $100,000 a year in a job that paid linear income, I would be able to put something aside and make investments to enable me to earn passive income in the future.

If you are earing below $50,000 a year, you need to find a way out of the liner income model as soon a possible.

I am grateful that I currently have a job to enable me to meet my monthly expenses. I will use all the free time and squeeze a little money from my monthly pay to create residual income streams.

I have decided to use the internet to help me do this my using affiliate marketing, network marketing, blogging and youtube.

It has been said that The Best Time To Fix Your Roof Is While The Sun Is Still Shining. I have set a goal of earning a monthly income of over $5,000 using the internet in 24 months.

I am using HealthyNULiving to build up a residual income. This is a network marketing company that offers health and nutritional products.

I am also working with other opportunities to build up residual income using the internet.

I have made a decision to create residual income streams that will enable me to get out of the linear income stream (job) that I am currently getting paid from. This corporate hierarchy offers me little room for growth.

Residual income is money that keeps on coming in, long after you completed the work. Residual income is continuously paid to authors, musicians, song writer. Every time a book is sold, the author earns a commission. Every time a piece of music is used or played the musician who composed it earns a royalty. Every time a song is played, the song writer earns a royalty.

Another form of residual income most people will have access to is in the form of dividend paying stocks. This will involve investing a large amount of money in these types of stocks.

Residual income has enable many people worldwide to create vast fortunes and enjoy life to the fullest.

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