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Contrary to popular belief, there are only 6 Passive Residual Income Options that you have to choose from if you want to earn passive income and live your perfect lifestyle.
There millions of dollars of books, courses and training material that supposedly teaches people how to earn multiple streams of passive income BUT when it comes right down to it, you can only do one of these 6 things to create passive income.
Royalty Business (Singing, Writing, Acting, Speaking, Branding, Etc)
Internet
Of course there are a lot of different areas in each one of the options above but those are the only 6 options that give you enough leverage to produce passive residual income options.
The best part is that if you learn how to do one really, really well, then you’ll be able to stop spending time earning linear income and start spending time doing what ever is that you want to do. That may just be spending some time learning how to earn additional income from one of the other options.
The other thing you’ll realize when you get into earning passive residual income is that there are a lot of ways that you can leverage the time you put into one option into another options.
For Example, as you may or may not know, I’m a supporter of using a combination of Network marketing, the internet and personal branding to create multiple streams of passive income. I started out doing network marketing but quickly realized that I could be more effective in building that business if I also became efficient in marketing online. It was actually easier to build the 3 things together than it was to build one of them by itself.
So what’s the point here? Well, you’ve got 6 options to produce passive residual income and put yourself in a position to live you perfect lifestyle, the thing you need to do is decide which one fits your situation and needs the best.
Robert Kiyosaki’s cash-flow quadrant example really simplifies your income choices.
No matter how you slice, Robert Kiyoski’s cash-flow quadrant clearly identify’s the four choices you have when it comes to earning income. There isn’t 5 ways to earn income; there isn’t 3 ways to earn income; there is only 4 ways. This video and the diagram that follows displays the 4 ways:
If you want to control your time and your level of income, the only place you can do it is if you join one, or both, of the options on the right side. I’ve said it 1000’s of times and I will continue to say it, “if you are working as an employee, you are being leveraged and your employer controls your level of income and the amount of time that you work.” That is saying that employment is good or bad, I’m simply stating the facts. The way that the right side quadrants fit into the quit your job early philosophy is that you need to have a business that produces cash-flow (preferably passive income). This income will replace the employment income and have the potential to become very lucrative if the right leverage strategies are put in place. The intention with the passive income business is to build enough cash-flow so that you can take a portion of that cash-flow and build wealth through investments (real estate and stocks).
I have a ton of respect for Robert Kiyosaki and his message. He believes in raising your financial IQ so that you can control situation. The difference between him and us is (besides the fact that he is incredibly loaded) is that he talks a lot of theory. We intend to not only teach the theory but also offer a solution.
If you’re not that happy with your life and want to make a change, have you ever asked yourself why? Have you ever thought of why somethings give you more enjoyment than others?
Tony Robbins is amazing at what he does and he’ll help you sort it all out. Watch this video and you’ll know exactly why you are striving to Live Your Perfect Lifestyle.
Are you one of those people who wants to quit your job early or are you like this guy, or are you somewhere in between?
I really respect people like this guy for putting a little life into his own world and the world of all his passengers. He is a perfect example of how you can choose your mood and mentality. I have no idea who this gentleman is but he’s taught us all a very valuable lesson:
Don’t think ‘Either/Or’, Think ‘And’
Here’s a guy who may, or may not, love his job who has found a way to include a passion that he has for rapping. He’s been creative to make his world better for him and in doing so, in less than 2 minutes of his time (which he was going to have to do anyway) he helped make others lives better to. It’s all about maintaining a high level of energy and the best way to do that is to do things you love.
How can you use something that you love to do to make someone else’s life better today. Try it out and see what happens. It might lead you to a better place which just might help you Quit Your Job Early (if, of course, that’s something you want to do).
Do what you love and those around will be better for it. Cheers!!!
If you want to Live Your Perfect Lifestyle by Earning Passive Income Streams and you haven’t figured out how yet, then a book like T. Harv Eckert’s, ‘Secrets of the Millionaire Mind’ might be the missing link.
T. Harv Eckerts Book ‘Secrets of the Millionaire Mind‘ will make you ask yourself questions that you probably have never asked yourself before. And you may not like the answers you come up with but they are the same answers you may be looking for.
I am currently reading and implementing the strategies of the book for the 3rd time as I write this. Not only have I read the book 3 times but I’ve also attended T. Harv Eckerts FREE weekend seminar which kind of makes me wonder why I I’m not as wealthy as T. Harv Eckert himself yet? I say that sarcastically because the reality is there are obviously still things that I need to learn.
That’s why I’m reading this book again. I know that I have to continue to ‘grow myself’ in order to ‘grow my bank account’ and the ‘Secrets of the Millionaire Mind’ puts me into action on working on the aspects of myself that are holding me back from living my perfect lifestyle which includes the ‘Fab 5’
Flexibility
Mobility
Health
Wealth
Happiness
Two of the strategies that I have found to really change my results in the past are
1 – Do Daily Affirmations
2 – Respect Money
Daily Affirmations are things you repeat to yourself over and over again throughout the day. The Affirmations I say include the following
I have a millionaire mind
I am an excellent money manager
Money comes to me easily and frequently
I am a powerful human being
People are attracted to me and want to help me reach my goals
People purchase my products and want to give me money for my expertise
I live a completely abundant life
Some of these affirmations came straight from the book and some came straight from my head. The point is that when you say these things to yourself 2 things happen. One thing is that you start to believe them and the other is that you’re sending out the right messages out into the universe. Why is that important you ask? It’s important because of the law of attraction – what you put out there comes back to you. If you are always expecting to have stuff go bad; it will. If you always expect stuff to go good, it usually will. This is a topic for a whole other post so for now I simply challenge you to write down 10 affirmations for yourself and say them everyday as many times as you can without going ‘nuts’. Also, say them out loud. If you just say them in your head, it’ll feel like a ‘dream’ and ‘hope’. You didn’t start down this path to have dreams; you started this process towards living your perfect lifestyle because you want to live your dreams. Say your affirmations out loud daily and I guarantee you will live your dreams sooner than later.
The other strategy of Respecting Money was one that I found to be very interesting. I always thought that I respected money but when I started to really keep track of my money habits, I started to see some really alarming things. It wasn’t that I was spending a whole munch of money on wasteful things, it was just that I wasn’t managing my money with any kind of respect. I is a pretty simple message about money that I got from this section of the book but the bottom line was that
If you don’t respect the money you have then why would yourself, or the universe (if you believe in the spiritual world) think you should deserve any more. My spiritual adviser went so far to tell me that the simple practice of keeping your cash in numerical order, or having a wallet that is well-organized will help me attract more income because was treating the money I had with more respect.
Just try it for yourself for one week and see what kind of difference it makes in your feeling about money. Keep you dollar bills nicely folded and in order. Put your change away in the same spot every night. Review your finances once a week. Get into the habit of doing these things and I can guarantee that you will start seeing positive results to your bottom line. I know because it happened to me.
Cheers to starting 2 habits that will forever change your life.
Tip #1: Monetize Your MLM Marketing with Affiliate Training
If you’re wanting to learn how to monetize your mlm marketing strategies then you are probably also wondering how to market your business to people online. The 2 things kind of go hand-in-hand. The other reason that you probably want to learn how to monetize your mlm business is because you’ve hit a speed bump with your business (or to you it might even feel like a road block). You want your business to grow at a much faster pace than it is and the only way you can see that happening is by you taking control of your business so that you no longer have to be dependent on other people.
It’s pretty clear what monetizing your marketing strategies can do for your business. By making money through your marketing efforts, you will not only be earning extra income but you’ll also be supplying yourself with a number of leads that may become your network marketing business partners. This would be the perfect scenario for any network marketer but for whatever reason there aren’t a bunch of network marketers that ever really make it happen.
So here’s the biggest and best tip I can give you to get you headed in the right direction.
Don’t just sell a program online just to sell a program.
Sell a program, or product, that actually provides a good value to people.
The challenge with that process is finding the product that is going to help you and give you and opportunity to provide the people who buy what you are selling a lot of benefit. I have a very strong belief that what goes around, comes around, and if you are market crapping products that people don’t get any value you out of, you’ll pay for it somewhere down the line. I also believe that the best product you can sell to other people is a product that you have used and have experienced the benefit that the product brings you.
So with that in mind I have to recommend to you, a program that is working for me as you read this and was my ‘stepping stone’ for going from a complete newbie online to a successful online network marketer who has monetized his MLM marketing strategies.
Even if you never sell, this product again, I can guarantee that it will give you all the skills you need to be an internet entrepreneur. Its that simple. My goal with everything that I do is to help people put themselves in a position to Quit Your Job Early and this training product plays a very significant role in helping me do that.
The course is called Renegade Pro.
The Best Internet Marketing Training For The MLM'er
It was created by Mike Klingler, and it is the most comprehensive internet marketing course that I have seen to date. If you want to learn how to Monetize Your MLM Marketing Strategies then using this program will show you exactly how to do it.
Residual Income Streams: Is it better than earning a linear income from having a job?
Because this site is called Quit Your Job Early, you probably already know how we would answer the above question – we’d take the Residual Income Streams any day of the week… And Unless you are one of the ‘lucky few’ who actually loves their job, I would guess that you’d prefer to be earning residual income rather than going into work every day too.
The question is rarely whether people want to earn Residual Income Streams but more of a question of how can someone earn them without risking everything they have and completely altering their lifestyle. I’d say that’s a pretty good question, wouldn’t you. I have a theory that most people’s dreams get smaller as there age gets older. I also believe that a big part of that is because their JOB wears them down. It becomes ’stale’ and a ‘necessity’ rather than an ‘invigorating’ and ‘exciting’ place where they spend their time.
I have a lot of respect for anyone that works hard to supply for the needs of their family. I think that having a JOB is going to be a necessity for most people at some point in their life (and in a lot of cases, all of their life) but I also know that their are ways to put yourself in a position to not have a job and they all have one common denominator – Leverage.
When I say that a job gets stale and becomes a ‘necessity’ I mean that people lose their ‘get up and go’ and replace it with ‘I have to go because that’s just the way the world works’. I think a big reason that people wear down as they get more and more comfortable in their jobs is because they see believe that they are really worth more. They believe that they have more to offer the world and either their job doesn’t pay enough or it takes up all of their time. Take a look at this graph.
Traditional Job Income Projection
One of the things about having a job is that there is a ceiling on your income that you have no control over. If you have JOB, your reality is that you are allowing someone else to determine what you’re worth which can be a good thing and/or a bad thing depending on what your personal situation is. There were times when I was building my business and residual income streams that I thought that having a job would be a good thing BUT those thoughts quickly passed when I remembered how much I hated feeling constrained when I did have one. If you believe that you have a lot to offer the world and want to control your own financial situation then you have to find a way to quit your job early and take control.
As is diplayed in the diagram above, it doesn’t matter what point you’re at in your career, if you want to make more income, you will have to prove to someone else (your boss or another company that wants to pay you more than your current company) that you are worthy of your pay. Typically that process takes time. A traditional career will play out something like this.
Find a job out of highschool or college and get paid very little because you have no experience
as you gain experience, your income will grow fairly rapidly through the first few years of employment
After 3-5 years of employment, you will hit an income plateau (the raises go from being significant to being minuscule)
You’ll spend 3-5 more years proving your worth to your boss until you get promoted
this process continues over the span of career – or you simply find a level that you’re happy with and you’re income rarely grows
I know steps 1-3 because I experienced them first hand when I came out of college
I got hired for $29,000/yr
Went from $29,000/yr to $50,000/yr in 3 years
Went from $50,000/yr to $52,000/yr in years 4 and 5
I quit half way through year 5
I made a conscious decision to take control and attempt to earn residual income streams because I believed that they would give me a better chance to live my perfect lifestyle. When you earn residual income streams you’re income projection will go from the example above to one of unlimited potential (represented below)
Income Projection for Residual Income Business
Don’t kid yourself though. Earning residual income will take work. It doesn’t have to be overwhelming work, it just needs to be consistent and effective work. It may take you 6 months to replace your current income, it might take you 5-10 years to replace it, but does it really matter if it allows you to live your perfect lifestyle while you’re young rather than waiting until your 65 and retired from your JOB.
If earning residual income streams is new to you, or if you just want to learn more about what options you have, take the time to read this article – Passive Residual Income.
Until Next Time, Cheers to Your Success and Quitting Your Job Early,
To help others elevate their quality of life and live life based on the 'Core 4' Values: Flexibility, Mobility, Health and Wealth... without needing anything more than a Phone, a Laptop and an Internet Connection.
