Residual income the real quest for anyone interested in living either a financially comfortable life or for anyone who wants to be "rich". Residual income though is more than just money, it's about time freedom which for me is more important than money, it's lifestlye it's freedom.
Okay so what's the difference between residual income and linear income??
Linear income is what most people get, it's the income you get from a job. In basic terms you swap time for money. If you work you boss pays you, and if you don't work then your boss wont pay you.
Residual income is what some people call pop star money (to simplify it!) it's an income you get time and time again for something you do just once. If a pop star records a song, they get paid whenever it gets played or bought in the shops (imagine how much Elton John gets paid!)
elottery is what gives me a stream of residual income, I say a stream because it is my opinion that everyone should have more than one stream of income. I am one of the odd ones, that encourages people not to leave their jobs, and to develop side streams of income on top of their job.
There was some research done in the UK, that said the average person could only last 3 months without a wage. Wow how scary is that, imagine if you were sacked tommorow, would you be able to last 1/2/3 months etc?
This is where it's a good idea to have multiple income streams. I am not saying it's easy in fact it's not. Everything that is worth doing takes work and effort, and at first a lot of it, to get things going. So to do a full time job and to add on an additional stream of income takes dedication. It may mean you need to give up watching soaps on TV, but then thats not a bad thing.
The good thing about elottery, is that it is an additional income stream for me, and it's residual too. So I have spent a few years now promoting elottery online and offline, and the income I earnt from getting new members in year one is still be paid to me years later.
My plan is to keep promoting this for years to come (and show others in my team, how to do this too) and create a massive additional income stream thats residual, and then move on and find something else. Focusing a bit less on elottery in say ten years from now and adding another stream of income to my bow.
Hmmmm, it's a powerful thought residual income and lots of it. Imagine nowing when you sleep you still get paid. In a few years time I hope to be blogging on the beach in Spain and having it earn me money.
Eventually as you have built up two or three extra streams of income you could quit your job and have the time freedom that we as humans should have. No more boss telling you what to do, and no more alarm clocks waking you up.
Thats my dream anyway, and trust me I am working on it.
