Monday, December 04, 2006

Passive Residual Income: Not Just The Lazy Man’s Way Out!

Copyright © Michael Laleye

Who is to say that having a stream of passive residual
income isn’t a good idea? Who can honestly say that making
money with little to no effort involved isn’t an attractive
solution to life’s money woes? Rich people, that’s who!
People who have all the money they could ever need. Passive
residual income can give you the cushion you need to send
your little ones off to Ivy League school someday, or plan
for an impending retirement. Needless to say, there aren’t
many people like this around anymore. There really isn’t
such a thing as ‘old money’ these days. People have to go
out there and earn it, whether it’s passively or actively.

What is passive residual income you ask? Great question!
Residual income is income that is created after one has
already taken the steps to make sure the income is being
generated; for example selling the rights to a project that
will bring you royalties for the rest of your life, or
purchasing a piece of property with the intentions to rent
it out to others. PASSIVE residual income is income that is
generated just like this--with little or no effort on your

Sounds like a beautiful thing to you already? Keep reading.
By generating a stream of passive residual income, you are
the one who is deciding how many hours you spend at work,
and how much of your time (physical time as well as mental
time) is involved in generating this income. It’s all about
YOU and what you do, or do not want to do. That’s why it’s
called PASSIVE residual income!

The great thing about passive residual income is that the
only limits that are set on you, and your pocket, are the
limits that you set. If you decide that you would like to
expand your business venture, obviously that would increase
the amount of income that is generated through this passive
stream you have generated. The more work you actually do put
into it, the better off you will be financially, but because
these avenues are passive, meaning they do not require your
direct attention to continue to operate, you will still be
financially well off.

Take charge of your own financial situation--don’t depend on
others to do it for you. If you wait forever for your boss
to give you a raise before you build the house of your
dreams, you may very well have to wait forever. The good
thing about passive residual income is that because it
requires so little of your direct involvement, you can keep
your day job and the stability that comes along with it.

Follow These 3 Easy Steps To Passive Residual Income

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