How to Create Residual Income

The best way to make extra money and go for your dreams is to learn how to create residual income!

Let me explain. The terms residual income and passive income are often used interchangeably. They both refer to a stream of income that continues to come to you, month after month, year after year, with little or no work on your part beyond your initial effort.

While they often (or usually) go together, there is a distinction. Passive income means it doesn't require your direct involvement. Residual means it is repeat or recurring revenue – money that keeps on coming. They're both essential to your long-term success. When you learn how to create residual income, you experience freedom because you have both time and money to do the things that are important to you.

Are you trading time for dollars?

Contrast that with the kind of earnings most of us are familiar with - linear income. With linear income we trade our time for money. We work once and we're paid once. Sounds fair enough, right?

The problem is, when we stop working, we stop earning, regardless of the reason!

That's the reality we faced a few years when we begin to wonder how we would live our retirement dreams. Even though many of our friends were already retired, we realized we didn't have adequate reserves for the important things we wanted to be able to do beyond our full-time working years.

Maybe that's where you are – trading your time for dollars and trying to figure out how you'll ever be able to go for your dreams.

Residual income is the answer!

Robert Kiyosaki, author of the bestselling Rich Dad, Poor Dad series, says the answer is to find a system to learn how to create residual income and then build that residual income to the point where it equals or exceeds your expenses and ultimately replaces your linear income.

For us, following that advice gave us a fresh start toward our retirement dreams, and opened the door to long-term financial freedom. And it can for you too.

Just imagine what even a small amount of residual income could mean for you!

When you create residual income you can:

1. Enjoy active, vital retirement years despite the current economic climate.
2. Stay home with your kids.
3. Send your children to private school or college.
4. Afford those important “extras” in your life – like joining a gym, taking a class or paying for a hobby that you've had to put on hold.
5. Pay off debt. Once you've identified a loan or credit card balance you'd like to eliminate, go out and and learn how to create residual income, producing a positive cashflow stream that brings in a monthly amount allowing you to pay it down and pay it off!
6. Build your savings.
7. Start donating money There's nothing more satisfying than supporting a ministry or a worthy cause that has special meaning for you.
8. Go for your dreams!

Learn about the many benefits of starting a greeting card business, including the opportunity to create residual income.

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