Did you write that musical hit that the world couldn't resist?
And
because of your musical talents, do you receive a music royalty check
in the mail for thousands of dollars each month?
No? No musical
talent? No skill at writing hit records?
Well, are you a famous
novelist?
Are you interviewed on all the television talk shows?
Do publishers bid record amounts of money for the rights to your next
mystery novel? And because of your captivating writing talent, do you
receive thousands of dollars in royalties from your publisher every
month?
Or, do you own a couple million dollars worth of
high-grade stocks and bonds? And every month do you receive a dividend
check for thousands of dollars, conveniently sent to you from your
broker?
Or, did you arrange to be adopted by a rich family? And
did that family leave you thousands of dollars in monthly inheritance
income from their many trust funds?
Or, do you have to work
for a living?
If you are like most people, you have to work
for a living. If you don't work, you don't get paid.
What's
different in the above examples?
Well, if you were a successful
rock star, novelist, rich investor, or lucky heir, you would receive
money every month even if you didn't go to work. That's called residual
income.
What's residual income?
It's a lot
different than linear income, the kind most people have. You see, linear
income continues only as long as you continue the work.
If you
are a surgeon, you get paid whenever you perform a surgery. If you don't
perform a surgery, you don't get paid.
If you are a construction
worker, you get paid when you work. If you decide not to work for the
next 12 months, chances are your employer is not going to pay you.
If
you drive a bus, you get paid. If you quit driving buses, you don't get
paid.
That's how linear income works. You receive income when
you work. When you stop working, the income stops coming.
Residual
income is different.
The best way to describe residual
income is that when you do something right just one time, you get paid
over and over again for what you did.
So, you wrote a hit
song ten years ago. Every time it plays on the radio somewhere in the
world, you get a little royalty. Even though you completed writing your
song ten years ago, every month you receive a royalty check from people
who play your tune.
You did it right one time, and now you
collect every month.
When you wrote that hit novel five years
ago, you finished your work. Now, you receive regular royalty checks
from continuing sales of your book from your friendly publisher.
You
did it right one time, and now you collect every month.
You
invested the few million dollars you had lying around in your checking
account six years ago into high-grade stocks and bonds. Now, every month
you look forward to your monthly dividend checks.
You did it
right one time, and now you collect every month.
You called every
duke, queen, business magnate, and rich sports star twenty years ago
and asked to be adopted. Finally, one accepted your proposition. Every
month your inheritance check reminds you that the adoption letter
campaign of twenty years ago really paid off.
You did it right
one time, and now you collect every month.
Residual income sounds
nice, doesn't it? Unfortunately, most people have trouble developing a
residual income.
Why? We can't sing or write music. We don't have
publishing contacts for our hit novel. We don't have a few million
dollars sitting in our checking account waiting to be invested. And,
worst of all, we can't find any rich people in failing health ready to
adopt us.
However, there is hope.
There is another
way to develop residual income. There’s a way to get monthly checks for
thousands of dollars so that we can do the things we want in life, so
that we can achieve our dreams. And best of all, almost anyone can
develop this residual income.