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In the mid 50's, a family could survive on
one income. Today, very few can manage on two. And that won't be enough in
another few years.
It's a shaky future. All of us would be
wise to have multiple incomes flowing into our bank accounts.
Prosperous people have always known this.
If one income vanishes, they have others to support them. Ordinary people
are much more vulnerable. If they lose even one of their incomes, it wipes
them out. It could take years to improve this situation and the rippling
effects can be disastrous.
It won't be long before people will need a
portfolio of income sources - AND from completely different and diversified
avenues. If one source dries up, you will barely feel the bump. You are
sound. You have time to adjust, regroup. You are safe.
Do you have multiple incomes flowing into
your bank account at this time? Are they Linear or Residual? And do you know
the difference?
You have a Linear source if you get paid
for every hour you work. You have a Residual source if you work hard once,
and it releases a steady flow of income for many years. You are rewarded
over and over for that same original effort.
Even doctors and attorneys are not as
wealthy as they appear. They don't earn Residual incomes. They can only see
a fixed number of people a day and they have to be there every day to
generate their single Linear income. They may appear to be wealthy, but they
work the same hours and days that most of us do. The only difference is
their Linear income is higher than ours.
If you are smart, you will start shifting
your income sources from Linear to Residual and eventually realize the
freedom to do what you want, when and where. This can be accomplished
easily, without a lot of fuss. Start with ONE new Residual source this year.
How about right now?
Of course most of us cannot write a book
or compose an opera in order to generate lasting Residual income. But
the Internet has given us the chance of a lifetime. There are many programs
not worth their print, but there are others that will indeed, give you the
Residual Income we speak of. The trick here is to recognize the difference
between hype and straight talkin'.
Just as we must first walk before we run -
to become a Leader, we must follow.
The best place to look for an 'honest'
Residual income is to find someone you trust and follow him/her. A name that
you recognize, a name that has a substantial following already, a person who
over-delivers on promises. These are the true "Gurus" --- and if you've been
on the Internet for more than a month, you know who they are.
All of them have programs designed to give
you Residual incomes. Look over what they offer and make your choice. Give
it everything you have in promoting it, and when you have it off the ground
--- look for your next Residual source.
Success is a marathon, not a sprint. I did
it -- so can you.
© Esther Smith
About
the Author: Smith has published numerous articles and writes a blog for
all artists:
http://the-self-taught-artist.com/blog.html
She also coaches new students on how to leave the time-for-money trap and set up
Leveraged Income for life.
http://thepermanentventure.com/dcc.htm If you can’t sing or ride a
bull, you better learn how to make your money work for more money. |