Residual incomes are monthly income streams that do not require you to put in much time or physical work to maintain. This is opposed to active income, or income from your job/profession, where you must physically go to work and spend some time and effort creating the income.

While nearly everybody has an active income, only a small percentage of people know how to build residual payments; residual payments are more of a “fantasy” for most of us because we do not know how to create them, so they do not seem real.

But at the same time, residual incomes should be a priority on everybody’s income list since they can generate cash without wasting energy; hence, you can pay your bills and still have time and energy left to enjoy life.

Here are eight reasons why you need to start building residual income streams for yourself today:

Earn Income Without Fatigue. No energy left after work for fun? If your sole source of income is your job/profession, then you’re earning money the HARD way… by continuously trading your time and energy for money. Residual payments do not burn up your time and energy as much as your income from your job, leaving you with more energy at the end of the day.

Less Danger of Losing Your Income. Your active income (job/profession) will likely cease should you get sick or become disabled, while a residual income will probably be able to continue producing while you are sick. When you’re sick, you may not have the energy to go out and work, but you would still have the power to log into your accounts and monitor any progress with your income streams.

You Can Earn More Without Working Harder. With your job/profession, the more you want to earn, the harder you will have to work. With most residual income systems, the more you want to make, the longer you have to persist in doing the same amount of work (you make more by duplicating and scaling up something that works and automating it).

Building Residual Incomes Has Become Easier. With today’s software and automation technology, creating income streams and monitoring them for growth is easier than ever. In most cases, we can open accounts and go live immediately. Funds are transferred directly; advertising can be automated, even tracking can be done automatically, and statistics can be calculated and plotted for us. Split testing is quick and automated. Many tools are at our disposal to make it much easier to build these incomes that did not exist ten years ago.

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You Can Start Anytime You Are Ready. You can effectively build these income streams if you devote 1-2 hours a day to learning and implementing the ideas of people who have successfully achieved them. Did you know you can become an expert in almost any niche field if you devote a few hours daily to studying it for a month? Apply this to your income potential and see how far you can get in a few months. Can you give up a TV show daily to create multiple residual income streams for yourself?

It Does Not Cost a Lot to Get Started on Many Ideas. A lot of the time, you can buy a course for a few hundred dollars. Digital systems often cost less than USD 100. Depending on the type of income you’re learning, sometimes you can practice on paper, demo accounts, etc., or start with a few hundred dollars.

It’s Easy to Find A Mentor. With the internet, you can more easily find a mentor to teach you how to build a residual income. Plenty of common everyday people have made videos or written ebooks to teach you how to do what they have done. Just be sure to pick something you enjoy doing and learn from somebody who has already achieved success. They most likely will charge you a price to access the information, but it is worth it to know how to generate income.

You Are Not Getting Any Younger. The longer you wait to build these income streams, the longer you will have to work at your job/profession before you can afford to decrease your work hours to support your desired lifestyle. Get started now, and spend 1-2 hours daily implementing the ideas and watching your residual income grow!

Danh Nguyen, M.D. has successfully built several streams of residual incomes for himself. He reviews current ideas for making residual payments on his website.

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