What is Residual Income?
A residual income is a way to earn money every month whether you are currently working or not. Owning and renting out premises (business or residential), being paid royalties or earning through a savings and investment program are some examples of a residual income.
Residual Income vs Linear Income
What if you could earn money even when your not working. This is called passive, recurring or residual income. This is what can happen after you devote time, effort and money into a job or project that enables you to continue getting paid for the work months or years after it’s done.
Linear income on the other hand is where you only get paid for the hours you work, so is based on the number of hours you work (if you worked 40 hours a week then you would be paid for 40 hours of work). On the other hand if you stop working you also stop being paid.
When you start building a way to earn a residual income you continue to earn money even while your not working on building your business. It’s like having your own personal money tree.
Some examples of residual income sources include:
- Royalties from intellectual property, such as earning a percentage on a book or song you have wrote and is sold.
- Advertisements, donations or affiliate links from a blog or website.
- Buying residential or business premises and then renting them out.
- A shares and investment program that earns interest.
- Sales from e-books.
- Stock photography royalties.
How long long do you keep getting paid?
The ideal residual income business will keep on earning you money long after you have put the initial effort in allowing you to just watch the money to paid into your bank account regularly.
Sounds great in theory but is it really possible?
The answer depends on where and how you constraint your efforts. Like every worth while business or job you do as course to out in some initial effort to enable you to one day sit back and put your feet up and enjoy the residual income.
Advantages to Residual Income
Building a business does give you the potential to be completely financially independent when your residual income grows and produces enough money over time. Typically this can be between 3 to 5 years, depending of course how much time and effort you are willing to put into the business.
Having a regular residual income allows you to work less and gives you more free time allowing you spend more time with family and friends, take long holidays multiple times a year or do charity work etc.
One critical advantage of a residual income is the fact you would still being earning money even if for example, you got taken ill or got injured and could no longer work.
Unlike a salary paid income you would still earn money no matter where you lived.
One downside of building a residual income of course is the fact that you need to put time and effort to build the income, so to start with, you do need an additional way of earning money while you build your business, as an instant residual income is just not possible.
Only you can decide if the Simply Naturals business opportunity is for you, but we would encourage you to watch the video, read the brochure and browse our website before making a decision whether this is the business opportunity for you or not, and of course you can always call us for an informal chat.
Watch the video and see if this is the opportunity that you feel would offer you a reliable increasing residual income.
Become a Simply Naturals Distributor or an Affiliate Today.
FREE Customer Information Brochure
An informative brochure all about our minerals, sub clinical disease, and a few testimonials confirming their value to EVERYONE.
FREE Business Opportunity Brochure
This brochure explains our business opportunity and how you can earn money by promoting Simply Natural products.
Please contact us if you would like to discuss this business opportunity or have any questions about it.