To create the life you want you need two things:
- Smart thinking
- Residual income
My entire blog is about smart thinking and residual income.
Residual income (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended. Residual income stands in position to making money through traditional job.
Most people (including me) have to hold traditional job for a period of time, but the goal is to gradually transition to residual income.
I’m working full-time on my job and part time on my fortune. But it won’t be long before I’m working full-time on my fortune. Can you imagine what my life will look like?
Residual income is key to creating the lifestyle you want. You create a product that has a commercial demand long after you created it. You sell the product through a system that does the selling for you. You maintain the system because every residual income system needs maintenance.
There is no such thing as passive income. Every “passive” income needs to be maintained to some degree.
The most beautiful thing about residual system is that it takes less time to maintain it than to earn a living through a traditional job. That way you have more time to enjoy life to the fullest.
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