Wednesday, March 10, 2010

My Good Friend Resid U Al

Do you know my good friend Resid U Al? Where is he from? India, Iraq or Israel? Most people don't know him yet everyone wishes they did. I just met him about 10 years ago myself but he really has changed my life. Who is this mysterious person I refer to as Resid U Al? He is the one that will set you free and give you your life back. RESIDUAL income is what I'm talking about. If you're like me, you may have heard of it but you may not really understand it or know how to get it because if you did, you wouldn't do anything that didn't have it.

Lets put it in perspective for you. Most people work on a Salaried, Hourly or Flat Commission wage. You go to work, put in your time and go home and you are compensated for that time. The problem with that is, if you stop going to work, you stop getting paid. With that being the case, how in the world are you ever going to be able to stop working if your income only comes when you go to work? Most people are thinking they will save enough money to retire on with their 401k or just in a bank account somewhere but the reality is, most people today don't have enough money to live for a month if the money stopped coming in. So that plan hardly makes sense if you really think about it. I was taught many years ago that if you are the sole asset to your income, that's a problem because when your asset aint at work your asset aint getting paid. lol. It's funny but true.

So lets define Residual income. This is income that is paid to you for an ongoing period of time for work or business that you did at one time but are no longer currently doing. It's a very common thing in the entertainment industry. Actors and Musicians get it and in their industries it's called Royalties. Unfortunately, most of us aren't talented enough to make it big there and draw royalties in those industries. So where can the average person find it? Well the Insurance industry is the first thing that comes to mind and then there is the Network Marketing Industry. Now, let me clarify one thing. There is a difference in Residual income and Passive income. Passive income is what a Broker type person or a Upline in a Network Marketing business would get when their team produces new business. This is passive because it only comes if that team of people is producing. Don't get me wrong, that is still better than all your income being dependent on you but it is not residual. I only say this because a lot of Network marketing companies will claim to have residual income when, in all reality, what they have is Passive income. Again, nothing wrong with that but just be aware of the differences in the two.

So lets see. Your going to work for like 40 years only to stop (hopefully) and pray that you can survive on what the Government is paying you along with whatever money you have saved up. Seems pretty risky to me and this is whats considered to be the SAFE bet. I just don't see it. 40 years of hard labor that you just walk away from and never collect another penny from and can't even leave it to your family when your gone. This plan, ladies and gentlemen, is a plan for disaster. You better start doing something different. You better be looking for something that pays you in spite of you after the fact. Something with Residual and/or passive income. Or you can go ahead and start practicing now for your future. Say it with a smile..."Welcome to Wal Mart". Believe me, the elderly in our country are not saying that today because they were just looking for something to do to pass the time. They are there saying that because they were sold on the 40 40 40 plan. Work 40 hours a week for 40 years and retire and live on 40% of your income. The income you couldn't make ends meet with when you were getting 100% of it.

The doom and gloom is out there. Already more people today are depending on the Government to survive and already they are quickly becoming disappointed. You better step up and add something on the side that will build an income for you and your family later. Something that you can call yours. Something you can leave to the ones you love when your gone. Something that will pay you what you are worth, not what the JOB is worth. There are plenty of opportunities out there, you just have to open your mind and evaluate them and find one that makes sense and, even more importantly, excites you! Your going to work for 40 years anyway, wouldn't you like to have something to show for that when your done. If you can ever really be done.

I'm just saying!

Stay Focused and Feel Good!