A residual income from home is really the way to go if you want to create a regular income that will keep coming in even when you are no longer working actively to generate it.
Many people don’t quite appreciate the value of enjoying a regular residual income from home, which I like to call recurring income. It is often also referred to as passive income, a term that can be misleading. Passive income suggests that you don’t have to do anything to earn it; that you just passively sit there and it will flow into your bank account all by itself. That is make-believe, at least in the early days when you’re building up some kind of income-generating asset from which you can enjoy an regular income.
Of course, if you suddenly have a huge lottery windfall, or you inherit a lot of money, then you can invest that and live off the passive income interest. But this is something like having a fixed pension — it doesn’t keep up with inflation. Over time your investment is in fact declining in real value, year after year, as you keep drawing the interest as income and leaving only the original amount invested.
The good news is that these days it is indeed possible to build up your own residual income from home — an income that does keep up with inflation, and to grow way beyond that too. Moreover, it is possible to achieve this with no large capital investment at all, and no monthly investments into some kind of financial fund, like a retirement fund. It can be done by investing some of your free time instead, on a regular basis during the first few years.
Many people worldwide are now doing this quite successfully, and changing their lives fairly dramatically. Just as many, probably most, try their hand at it but give up before they see the returns on their efforts. One reason is that they go about it the wrong way — the old-fashioned way. Another reason is that they don’t appreciate that it requires perseverance, patience and some active involvement in the early weeks, months and years in order to give it a good kick-start.
Why don’t they appreciate this? I believe it is because no one tells them this. In the hype of selling the opportunity to new prospects, the promoters conveniently omit the details of how long it takes. They create the impression that you can start immediately and within your first week you’ll be making good money. This is typical of the get-rich-quick mindset. Don’t fall for it. You will not find a sustainable get-rich-quick business. Sound business, and residual income, simply do not work that way. So don’t be misled.
Creating residual income from home the modern way requires a solid foundation from which it can grow through the principle of leverage.
Let’s say you start your own traditional business. You invest some money in the essentials: office furniture, equipment, computer/s, and other items. Perhaps you need to have stationery printed, possibly some signwritten advertising, and so on. Off you go to make yourself a fortune being your own boss and having your own work times and leisure times.
The business then begins to move along and grow nicely. Now you need to employ someone to man the phones and run the office. Later you perhaps need to employ a driver, perhaps buy a motorcycle. You’re already applying the principle of leverage without even thinking about it in that way. You’re leveraging the efforts and input of others to support your business growth. And so it continues. The trouble is, most small businesses that start this way don’t have enough ‘working capital’ (money in the bank) to be able to afford to pay for all this leverage. This is one of the main reasons that 80% of small business ventures fail during their first year! It’s quite alarming.
So, what if there were a way in which you could afford the expansion, still without investing anything? Well, the good news is that it is now possible, thanks to major innovations in the homebiz industry.
This one offers an excellent plan, with a product to support it. It is, in fact, the company on whose system I built this website using the WordPress platform. (See my page Why A Dot Ws Website?)