Generating Residual Income! Generating Residual Income Is It the Best Way to Accumulate Real Wealth?

I am not a political person, nor am I going to make this article a rant about my political affiliation, but I was listening the Bernie Sanders a few minutes ago.  He said that since in early 1990's when NAFTA was created we have lost 60,000 American factories to places like Mexico and Vietnam where the labor is much cheaper.  I believe the minimum wage in Vietnam is sixty-five cents and hour.  How can we possibly compete with that?  We require a job that pays at least $15.00 per hour in order to survive.

The only way we will survive in America is with the possibility of generating residual income.  So many people do not know what residual income really is.  There are two aspects of residual income that are sooo good.  One is that once you work for it, it pays you over and over again.  Generating residual income is based on our efforts, not our time.  If you put a lot of effort into it when you first start a business then you will not have to put as much into it later.

It will even pay your children and your children' children.  I would love to know that my grandkids have a secure future in an economy that seems to be failing more and more every day.  Their future is not nearly as secure as my future was when I graduated from high school.  There were plenty of high paying jobs then.  Now they are virtually gone and when you find one you will want to hold on to it because it is precious as gold.

An income that pays you over and over again for you efforts is just one good thing about generating a residual income.  The second thing that is so good about it is it allows you to leverage other people's talents.  That's called the compound effect.  Once you start compounding your efforts with other people's efforts, your business can grow very quickly and keep growing exponentially.

The problem with generating residual income is that it can be a difficult thing to learn.  We are taught to generate employee income. That is just about the worst possible way to earn a living.  Generating residual income is a much better way to make money but it can be a difficult transition from employee income to residual income.  You will need someone to come along side of you and coach you through the first six to eight months.  That is the best way to make generating a residual income viable for you.  You will need someone that is trained and has done this before.