Monday, March 22, 2010

Concepts of a Traditional Job vs Residual Income

Unlike a traditional JOB you don`t spend the time going to and from work, and you get paid for helping others. You also get paid for that help every month, just as the Movie stars/singers get paid royalties on their productions.

Lets say you were a saw patients 8 hrs a day.Your pay would be limited to those 8 hrs, right? At $50 an hr x40=$2,000 a week. You have a family and want to spend time with them...

DO you want to work an extra 20 hrs a week? Or do you hire someone else to come in and you get $10 from his $50/hr .

Now your making an extra $400/wk. Hire 2 more people and now you have $800+$400 a week. Does this hit home?

What if you were a college student. All that homework, a girlfriend and occassionally wanting to go home for a cooked meal.... Wouldn`t it be better to have others helping you make the money then getting a 9-5 JOB and trying to fit it all in ?

It`s easy ... In the traditional job you trade hours for pay. You want to get paid this week you put in the time, you need more money you put in more time. Where as in the non traditional job you will get paid for something you did last month, last year, even years ago. That is called Residual income.

“I would rather have one percent
of 100 people’s efforts than 100
percent of my own.”
— Andrew Carnegie