Earning extra income at home is the desire of many people worldwide, these days. I’m no exception.
I myself have a preference for what is called Residual Income (or recurring income, sometimes also referred to as passive income). This is one of the two basic kinds of income one can earn.
Usually, recurring income requires some kind of investment that yields a return, such as interest on cash investment, or income from rentals on property investment. When one is fortunate to have such an amount of cash to invest, then you can sit back and enjoy the fruits of your investment and enjoy receiving your income at home.
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Let’s do some sums here, and we’ll use an interest rate of 5% in this example. If you want to receive, say, 5,000 (Dollars, Euros, Rands, whatever) every month in interest income, then at that interest rate you would require an investment of a mere 1,200,000 . You read that correctly: OVER ONE MILLION. Check the sums:
Assuming you don’t receive a huge inheritance, or win the lotto jackpot, how long do you think it would take you to build up a cash asset of 1,200,000 on which you can earn 5,000 a month? For many or most people it is not even feasible. If they did have that kind of money they would most likely invest it in their own home — which does not create income at home.
IF you are fortunate to be earning a lot of money per month, then how much can you save per month? Divide that into 1,200,000 and that will give you the number of months it would take you to have enough money to yield 5,000 pm in interest at an interest rate of @5% per annum.
By the way, if you draw out the monthly interest every month – to uses for living expenses, for example – your capital investment will not grow at all, and will in fact devalue year after year as a result of inflation. So even having that kind of interest-generating asset would seem not to be the best option.
Anyway, many people, probably most, simply don’t have that amount of cash at their disposal to be able to invest it securely and wisely to be able to enjoy the passive income that flows from it.
However, there IS a different way of achieving the same results by creating your own income-generating asset . You can invest some of your time instead of a huge amount of money.
On this website I will share with you some excellent options from which you can choose one or more that you feel will meet your own needs and preferences. I have personal experience with all of them, so I can vouch for them as being genuine.
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