Passive income is magic.
It is the most incredible financial concept that you and I will ever encounter.
Passive income is the secret of the rich.
Lack of passive income is the plight of the poor. If you don’t have passive income you are financially poor. Period.
I know people who earn $200,000 per year who are poor. They have no passive income, and they save nothing. It’s unbelievable. I was on a teleconference call recently with a gentleman who was a millionaire with another company, yet he DID NOT even own his own home.
They may know how to make a lot of money, but they don’t understand what it means to be rich. They are shackled to their jobs and to their boss’ wishes. They may love their work, but they HAVE TO WORK. They don’t have a choice. To me, that’s imprisonment. It’s poverty. It’s slavery.
What is Passive/Residual Income?
Passive income is income that comes in month after month, without you having to work. It is a monthly income created from an investment source such as savings, stocks, oil wells, etc. A million dollars in the bank produces passive income, a platinum record will produce passive income.
But what if you don’t have a million dollars or a great singing voice? Can you still earn passive income? Yes! Now, with the Internet and an on-line business, it’s VERY possible… for anyone!
- A $1,000/month commission payment from your home business is the equivalent of a $120,000 investment source at a 10% annual return… $12,000/yr. or $1,000/month. How long would it take to put together a $120,000 investment source?
There are seven principles you must understand if you want to produce passive income. These principals are well known by the super wealthy. These ultra- successful people will not even touch a project if it doesn’t meet the criteria that I’m about to share with you.
EVERYTHING I DO in business revolves around these simple principles – it’s the reason I have so much free time in life!
PLEASE MASTER THESE PRINCIPLES. They cost you nothing to learn and can make you richer than you ever dreamed.