THE 9th WONDER OF THE WORLD
Einstein once remarked that Compound Interest is the 8th Wonder of the World. On this basis RESIDUAL INCOME WOULD BE THE 9 TH WONDER OF THE WORLD.
If you can combine Residual Income with Compound Interest you can have a wonderful life.
Want to know two of the biggest secrets of the ultra-wealthy?
RESIDUAL INCOME and LEVERAGED INCOME.
RESIDUAL INCOME is income that keeps coming in month after month, year after year, from work you do just once. It's like a royalty; you write a book or record a song and get paid forever on it.
LEVERAGED INCOME is earning money through other people's efforts. There are only 24 hours in a day. Hence, there's only so much you can earn through your own efforts. A smart business is one that allows you to "leverage" your earnings through what other people are doing in a win/win way.
Residual Income is the secret the wealthy of the world have known and kept to themselves.
They need not have bothered-for unless YOU were blessed with the talent to create a best selling book, or able to compose a hit song or build a better mouse trap, or you had excess capital to invest in stocks or real estate-there was NO real opportunity for you to participate in earning Residual Income
RESIDUAL INCOME is similar to royalty income, such as that earned by a successful author, musician, songwriter, inventor, or the dividend income earned from investing in stocks or real estate.
Do you know that the Estate of Elvis Presley is still getting residual income today?
Any idea how much Paul McCartney earns from residual income? It was recently reported that his fortune is now over ?1 BILLION.
RESIDUAL INCOME IS SMART MONEY - AND WAYS YOU CAN EARN IT
Residual income (also called passive or recurring income) is income that continues to be generated after the initial effort has been expended. Compare this to what most people focus on earning: linear income, which is 'one-shot' compensation or payment in the form of a fee, wage, commission or salary.
Linear income is directly proportional to the number of hours invested in it (40 hrs. of pay for 40 hrs. of work), but one of the great advantages of residual income is that once things are set in motion, you continue making money from your initial efforts, while gaining time to devote to other things, such as generating more streams of residual income!
Following are some examples.
1) Transfer the rights to a book you wrote, a software program you created, a gadget you invented, or a song you recorded, to a company that agrees to pay you a percentage of each copy of your work sold in the future.
2) Become an actor and draw residual income from each of your movies, TV shows, or commercials, each time they run.
3) Let an oil company drill a well on your property in exchange for a percentage of the revenue.
4) Purchase an office building or other real estate that earns you recurring income through lease or rental payments.
The above ways of earning residual income generally aren't that easy to implement. Following are some that are more attainable for the average person:
5) Start a savings and investment program that pays you residual income in the form of interest or dividends.
6) Join reseller/referral associate programs on the Internet. These are called affiliate programs, and are very popular.
Companies arrange such programs to compensate members for promoting their products and services.
Members are generally given a unique I.D. number and/or web page or site, so the company can track the source of each sale and compensate the proper person.
However, many affiliate programs only pay one-off commissions, rather than recurring, residual compensation for your efforts.
7) Create and market your own information products.
Self-publishing your own information products has several advantages over marketing through other publishing companies:
* You, as the product creator, get 100% of the profit, versus a small percentage of royalties (around 10%) through traditional publishing companies, if they decide to publish it at all,
* By gaining complete control over the marketing of your products, you can profit from them for as long as enough viable markets (willing, able and accessible buyers) exist.
Conversely, traditional publishers usually have so many new titles by other authors vying for their marketing budgets and attention that unless an author is well-known, or the work is a top seller, the author's work is not given much priority and is pulled from the market within year or two, thus fading into obscurity.
* An author or musician creates a book or song one time, but then earns a small percentage of every copy of the book that's sold, or every time the song is played on the radio or sold on a record, tape or CD.
* An inventor invents a device and then receives a small percentage of the sale prices every time one of his
or her manufactured inventions is sold.
* An investor purchases a stock or buys real estate and receives dividends or rent for the financial life of that
property or investment.
The best types of residual income are usually those that you have exclusive rights to or otherwise control. They may be harder and more time-consuming to develop or acquire, but the rewards are usually greater, and the income more stable.
Given a choice, which would YOU rather do: work hard and get paid only once, through linear income, or get paid continuously - perhaps for years or even the rest of your life -for hard work you perform only once, through residual income?
Network Marketing Sales enables anyone, even those of average means to build a business that generates the kind of lasting, residual income that wealthy people enjoy.
With the right products and a company structured and managed to sustain the business and grow long-term the possibility exists for you as an independent Network Marketing Sales associate to create and continue to generate residual income - earnings you get paid long after your ini-tial efforts to create them have been completed - and the genuine possibility to continue doing that for the rest of your life.
ANOTHER UNIQUE ASPECT of' Residual income becomes clear when you look at it in terms of asset value.
What amount of money would you need in the bank or invested in stocks or real estate to have a dependable and continuous income of say, $5.000 a month?
At a 5% rate of return, that would require a capital asset value of approximately $1,200,000.
If you as a Network Marketer, were earning $5000 a month or more - which is quite achievable for a full-time effort, even after just a few years - you would for all intents and purposes be living like a millionaire, and you'd be doing that without the need to literally earn a million dollars - nor would you have all the hassles and responsibilities that come with that.
HAVE A LOOK AT THESE EXAMPLES OF RESIDUAL INCOME STILL BEING EARNED BY PEOPLE WHO HAVE PASSED AWAY
The top earners from beyond the grave
Elvis Presley ($54m)
Did you know that the estate of Elvis Presley is still earning thousands of dollars per year, even though Elvis has been dead now for over nearly 30 years?
29 years after his death, his fans just can't get enough.
He was found dead, dressed in his pyjamas, on the floor of his bathroom at Graceland on August 16, 1977.
Since it was opened to the public in 1992, Graceland has attracted about 70,000 visi-tors annually. The entrance fees, from US$25 to US$68 per person, and merchandise sales have generated hundreds of mil-lions for the Presley estate, making his daughter Lisa Marie one of America's wealthiest women.
Elvis is also making other people rich. Sales of memor-abilia continue to rake in hundreds of thousands of dollars.
Charles Schultz ($41m)
The creator of Peanuts retired from car-tooning in December 1999. He died two months later. More than 2400 newspa-pers still run Peanuts, but 95 per cent of his estate's earnings are from stickers and stuffed toys
John Lennon ($29m)
Even Paul McCartney's attempt to reverse the songwriter credits to "McCartney-Lennon" won't stem the flow of earnings gener-ated by CDs and radio air-play royalties.
LENNON, 40, was shot dead outside his New York home on December 8, 1980. Lennon's earnings in 2001 topped $A29 million.
That was far more than he made through the entire 1960s when the Beatles ruled the pop world.
Dale Earnhardt ($29m)
Fans of the American Nascar racing driver, killed in a crash during the 2001 Daytona 500, continue to fork out for memorabilia including licence-plate frames, scale models of his car and mobile phones.
Theodore "Dr Seuss" Geisel ($28m)
The children's author. His chief sources of income are movie rights and the Seuss's Landing attrac-tion within the Universal Studios theme park.
GEORGE HARRISON ($25m)
Beatles performance and songwriter royalties continue to fatten his coffers. And here comes an even bigger sum: his lawyers say there are more unreleased Harrison songs in the archive.
J.R.R. Tolkien ($18m)
Dead for 30 years, Tolkien has hit a goldmine with Peter Jackson's Lord Of The Rings movie trilogy and associated merchandise. His estate also receives half the profit on his book sales.
Bob Marley ($18m)
The bulk of his earnings come from CD sales, but Marley themed shirts, bags, footwear and headbands, available at his website, help to keep the cash rolling in
Jimi Hendrix ($12m)
Hendrix albums still sell, but the bulk of his income is from advertising licensing deals.
Marilyn Monroe ($10m)
Her beauty will never fade and nor ~ thanks to merchandise, movies and licence fees - will her income.
Jerry Garcia ($7m)
Inventive marketing of merchandise and artworks by Garcia's widow ensures the Grateful Dead guitarist's estate remains financially secure.
Robert Ludlum ($7m)
The author of best sellers such as The Bourne Identity. Movie rights generate a healthy income and there are more books to come.
EXAMPLES OF THOSE STILL LIVING AND EARNING
Do you know that Paul McCartney earns millions per year from his ownership of the copyright of many artists music apart from his own?
All these people are earning RESIDUAL INCOME!
It would be great if you and I could achieve the same type of income even though we are not singers, composers etc.
Insurance salesmen and sports stars are doing the same thing while the rest of us have to stave for a minimum of 40 hours a week to make a minimal wage.
Is there a way for you and I to earn
RESIDUAL INCOME ?
It is called