Receiving large investing incomes is one way to achieve financial freedom.
Many People Do Make Money in Their Sleep
You may have heard, as I did many years ago, that to get -- and be -- truly wealthy, you had to make money "in your sleep."
That may sound suspicious, even a scam, but it's simply residual income. That's income that continues to come in as a result of work you did in the past, whether you're continuing that work or not. Whether you're relaxing on a tropical beach, playing with your grandchildren or comatose in a nursing home.
Paul Newman's character in The Color of Money says that money that's won (gambling) is twice as sweet as money earned. I say that receiving money today for work done years ago is sweeter still.
Social Security and Pensions are the Most Common Forms of Residual Income
The most common form of residual income is never explained as such, and that's Social Security. You pay into the system while you're working (or a spouse or parent does), and when you're disabled or retired, you draw monthly checks. Pensions fall into the same category.
The problem is that these forms of residual income is that they're not under your control. You can make them higher by earning more money, but they'll be enough to never make you wealthy. And you have to wait until you reach a certain age, or are disabled (which is no fun), to receive them.
Artists of Various Kinds Receive Royalty Incomes
If you have some artistic talent and reach a high degree of success, you can receive royalties for many years. This can range from the millions of dollars per year Stephen King would still receive even if he never wrote another word, to the $10 or $12 at irregular intervals I once saw on the earnings record of a man who danced in a couple of Back Street Boys videos. Unfortunately, few of us qualify even for the $100,000 per year I once heard Norman Greenbaum, a one-hit ("Spirit in the Sky") wonder in the late 1960s, still receives annually.
Of course, there may come a day when even Stephen King books are no longer popular (a few years after his death, there were no F. Scott Fitgerald books in print, though today he's a literary icon of the twentieth century.). Norman Greenbaum's royalties will go down when there are no longer enough baby boomers to support radio stations that play oldies from the 1960s.
Thanks to the Online Long Tail Effect, You Can Receive Royalties too
However, modern technology does make it possible to aspire to receive many small streams of residual income. That's because online book, audio and video stores can store your artistic work indefinitely. You can receive royalties from sales for years to come. One song or book won't make you financially free, but if you put enough up for sale, you will at least receive a substantial monthly income.
Network Marketing Holds Out the Promise of Residual Income
Many business opportunities, especially multilevel marketing, sell the benefits of residual income. In my opinion, network marketing downlines are too insecure. I've seen people lose $20,000 per month incomes almost overnight. And Dan Kennedy says he's talked to many MLM heavy hitters who've told him privately they wished they'd gone into another business. Despite the hype and their incredible incomes, they didn't feel they could depend on their organizations to be there next year, let alone for their grandchildren.
Internet Marketing Can Deliver Long Term Residual Income
Marketing online is possibly more secure. It doesn't require a downline of distributors to remain loyal to you and your MLM company. If you can put up a website on a popular subject and get it well-ranked in the search engines, you can obtain income from it for years. Eventually, however, if you don't continue to add content, obtain more links to your site and keep up with ever-changing technologies, competitors will pass you up.
Investing incomes first of all requires that you work to make the money you need to invest. Then you put it into investments that make money, such as stocks that pay dividends and bonds that pay interest.
You are not depending on the continuing popularity of creative or professional work you've done. You've put the responsibility onto the people running the companies you're invested in. Of course, there's no 100% guarantee forever any more than there is in the music, publishing, MLM or Internet marketing businesses. Companies can and do go out of business.
Putting Money Into Income Investments is Your Best Option
Therefore, you must carry out appropriate risk reduction strategies. The first one is not to depend on any one source.
Establish investing incomes -- that's plural, because you want various sources.
Author Information: You can build a large portfolio of income-generating securities. Click here to get the information you need to effectively make money from your investments whether the markets go up or down. If you're ready to discover how investing incomes can help you retire with financial security, visit this page, enter your email address into the form and click on the Submit Button. Then go to your inbox and verify that. It's free for the taking. http://www.incomeinvesthome.com/. just host promotionaljusthost rebate
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