subject: Residual Money Programs [print this page] Residual Money Program is another term for a recurring source of income that you may have coming into your business. Doing a one-time job, selling something or performing a contract, you will get paid once and the income stops there. If you do a normal 9 to 5 job, you will continue to get paid as long you work for your employerthis is linear income. This is the type of income that the majority of workers enjoy as long as they keep working. Stop working and the bank account dwindles.
The third type of income is the residual or recurring income where you are paid even after you have stopped working. For example, lets say that you wrote a book. You had to go through the tedious task of researching, writing and finding a publisher. However, after that initial investment, and as long as your book continues to sell, you will continue to receive royalty checks.
A majority of wealthy people created their wealth through a residual income stream. Take a pop singer; she still continues to receive royalties from the sales of her records made decades ago. She can even repackage the same oldies and sell them to generate new income. She doesnt have to spend time in the studio to record new songs in order to have the cash keep flowing in. Some do it through income producing real estate. Residual income is the most ideal situation of the three. We would all like to work once and get paid over and over again. That is the power of residual income!
The majority of professionals that enjoy this type of income belong to the creative fields such as actors, writers, singers, and inventors. But you can have a repeating income as well. Many online companies, such as hosting companies, or membership sites will pay you a repeat income for referring others to them. Instead of getting paid once like you do with most affiliate programs, repeating programs pay you for as long as your referrals continue as paying customers. There are places online where you can find many residual income programs with just a little Google research.
