What is the residual income or passive income?
Residual income or Passive income is the income that came from cash flow regularly with minimal efforts. There are a lot of ways you can make passive income or residual income.
Why are we looking for passive income or residual income?
As long as we have business or job that gives us money, we do not need to worry about it. However, US economy crashed in 1929 and 2008, more than 6 million people lost their job and business. Most of experts said that it is going to happen soon. Therefore, we need to prepare in advance to prevent all crisis. Moreover, we need to think carefully who will support us when we grow older.
As long as we have residual income, we are on the safe side.
To do that , we should have business model that will work for us even though we are on a vacation or sleeping.
However, we need to ask ourselves that " Are we satisfied with what we have right now", if the answer is Yes, we do not need to do anything. If the answer is No, we need to think carefully that what can be done for the life we want. As long as we have burning desire to become entrepreneur or millionaire, we can do it.
There are lots of ways you can start your own business , however, we need to check with our own fund and ROI as well.
There are lots of investments that will give you residual income are Property, real estate, MLM, Stock market, Bitcon, Bond and so on. However, we need to check with our knowledge and how we can apply. Even though some are out of your control and it is learnable as long as we have solemn desire to be Millionaire and get residual income while we are on holiday or at home.
When we have desire to come true, you will do it with perseverance no matter what the situation is. The most important thing is Serious Desire what you want to be and what you want to do in the future.
Source: Free Articles from ArticlesFactory.com
This is Lin Lin who is into relax life style and the mother of 3 kids whom are adorable