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If you’re looking for methods to earn income without needing to punch a time clock or be in thrall to your business, residual earnings are the way to go. With residual earnings you put in some work setting up a business system which can run without your day to day steering and sit back and watch the checks roll in.
Most folk in this world rely on an income and boss to earn a crust. In order to stop being a wage slave, you will have to line up your own business. The problem is that many entrepreneurs trade one sort of slavery for another, as they end up spending every waking minute working on their business. That’s’s not freedom!
Think of residual earnings like an actor’s, writer’s or musician’s royalties. They create a bit of work, receive payment for it and whenever it becomes sold in the future they get a flavour flavor of the profits. Many an one-hit-wonder is living just fine off their royalties.
For those of us who are not stupidly good looking or talented in the arts the trick is to set up an enterprise that can run on its own, with the help of outsourced employees or minimal guidance from you.
The dropshipping industry is predicated on the power of residual earnings. Folk find a wholesaler of a product, advertise that product and then sell it for a profit. They send their orders to the supplier who then ships immediately to the customer. Properly set up with the right outsourced staff, all the business owner has to do is get the business set up and check in periodically.
The Internet also makes allowance for you to make this kind of living. By simply building a domain and monetizing it through sales or advertising you will continue to earn money so long as you own the site.
The strongest way to insure residual earnings for life is thru real estate investment. For a nominal investment in the property and performing any rehabilitation that should be done, you can rent out home or commercial property so long as you live. Barring a natural disaster or nuclear war your building will be standing long after you are gone. Not merely will you receive income for the rest of your life, but so will your heirs.
For people who do not feel like working with renters there’s a full host of professional management firms that will oversee the property and ensure you get your money. Of course you will have to be willing to accept a touch less income in this situation , but it frees you from having to deal with your renters.
It’s everyone’s dream to live the good life. We would like to be able to spend time with our buddies and relatives and pursue our hobbies and interests all while being financially secure. The power of property investing and other hands off companies offers you the facility to have it all through residual earnings.