If you went out and ask people what residual income is you would most likely get a whole lot of different answers. If you ask people how to develop or earn residual income you would also get a whole lot of different answers. That is because there are a lot of different ways to earn and develop residual income.
Some people will tell you that residual income is income that you continue to get paid after the work is done. That is true if you are getting paid royalties for a book you have wrote or any type of product you have created that can be sold over and over again. For example, Bill Gates is still earning residual income from Microsoft even though he isn't working there anymore. To earn residual income this way will require you to create some type of product that you can sell over and over again.
Some people will tell you the way to earn residual income is to invest in real estate. First you would have to buy the real estate and by renting it out you earn residual income by collecting the rent payments each month. This will require large amounts of money to invest and a lot of time dealing with each and every property you own.
Some people will tell you that investing your money in the stock market will earn you residual income. To do this you will need to have a lot of money to get started as an investor. This type of residual income is also very risky and you may end up losing all your money. You will have to put a lot of time into learning how to find good company's to invest in and trust the company to find the right people to run the company.
Some people will tell you to start your own company and hire employee's to do all the work and the income you earn will be residual income. This works for people who have the skills and talents to do it but again you will have to invest a lot of time and money into getting a company and it's products and services ready to earn money for you.
There Is Another Option!
None of the way's I have listed above will work for people who have no money to invest and no products or services of their own to sell.
But, there are company's that have product's and services and have already built a system for people who have a desire to develop a residual income.
The owners of these company's have already invested their time and money into building a system designed specifically for the purpose of developing a residual income for anyone who wants too.
With one of these types of company's you don't have to invest any money and if you do it right you won't have to put a lot of your own time and effort into it either.
Education and training is the most important part of the system to earn residual income this way.
So how do you get the education and training you will need to earn residual income this way?
We provide the education and training right here on the internet by having conversations in a Facebook group.
Income For Life Affiliate Membership Program
Our goal is to help people develop a monthly residual income by teaching them the profession of Networking for that purpose.
Start a conversation and ask your questions right in the Facebook group.
Facebook networking is where real people connect for a real purpose.
Networking is the American way to educate the public.
books I have read.
In everyone of Roberts books he teaches that passive and residual income is the best way to become financially free.
If you have not read any of his book I would highly recommend you do.
The CashFlow Quandrant book and The Business School for people who like helping people are my favorites.
Robert is a New York Times best selling author of financial education books and these are just a few of his books.
The Business of The 21st Century is about how Networking to build residual income works.
Networking is when people work together to achieve a common goal.
Networking is an important part of every type of business building in almost all types of businesses.
In the book The Business of The 21st Century Robert writes about business systems that are pre-built and ready for people who want to own a business.
Financial education is not taught in our school systems and if your like me it was not taught to you by your parents. Most of us where only taught to get a job and work hard for 40 years and if you save enough money then you can retire. Robert Kiyosayi teaches in his books that if you work to build a passive residual income you can retire once you have enough income to support your chosen way of life.
If your like me and find the nomadic life style of traveling and being free to live a very mobile life then passive residual income is the type of income you need to learn how to earn. If you take the time to learn how the Global Domains International business can become a life time source of monthly residual income it will be worth the time it takes you to learn.
Different Types of Income
One of the most important things Robert teaches in his books is there are different types of income.
His rich dad taught him to build business systems that generate residual income and his poor dad taught him to do physical work to earn income.
The education that Robert got from his rich dad was to invest your time and money into building business systems that will continue to generate income long after the physical work was done.
I personally thing that Robert's rich dad gave him very good advice. We are all going to have to do a lot of physical work in our life, but we can all build a business system to generate residual income at the same time.
With the right tools and education anyone can do what Robert's rich dad taught him to do. We can all build a business system that generates residual income.
Different Ways of Thinking
Robert's rich dad taught him that building a business system that generates residual income will require learning new ways of thinking. Instead of just thinking about the present you will have to think about the future.
Long term thinking and planning is one of the most important parts of building a business system to generate residual income.
The business system will have to be able to produce income for the rest of your life and be able to grow as time goes on.
Another thing to consider is your family, the business system needs to have the potential of being passed on to your family.
Building a business system requires a lot more thinking about the future and that in it's self makes it hard work.
Pre-Built Business Systems
In Robert's book ( The Business Of The 21st Century) he writes about business systems that are already built for people who want to build a residual income.
There are people who have built company's that are designed to be used as tools for people who want to build a residual income.
Global Domains International is one of these company's, it was designed to be a tool for people who want to build a residual income.
The business system is already built so you don't have to build one on your own.
The way the system works is by finding ways to teach the business system to other people.
Teaching people how to use a pre-built business system to build residual income can be hard work but it can also be a lot of fun.
One of the hard parts of teaching people how to use a pre-built business system is all the haters you will run into along the way.
The most important part of using a pre-built business system is it needs to fit into your life style. If your like me and like the nomadic type of life style you need a business system that doesn't involve physical products.
That is why I have decided to work the Global Domains International pre-built business system.