What is the best way to build a life long residual income?
If you recommend network marketing, which company? I mean a residual income that doesn’t budge a digit for a life time.
Tagged with: life time • network marketing • residual income
Filed under: Residual Income Models
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You just invited a bunch of spammers to post here. Best thing to do is get a good job, live within your means, invest in a 401K and IRA and you’ll do well. Good luck.
If you have a rental property, you set for life.
I am with David, Make money through saving, living frugally, invest wisely, no credit card debt. Put money in 401k, Roth IRA. You will be wealthy overtime.
Rental property. Life insurance sales. Investment in dividend-paying stock.
Certainly NOT network marketing.
Do you happen to know anything about blogging or owning a website? Another option you can try is Affiliate and Article Marketing. I’m not exactly fully self-employed yet, but I am getting there. I currently own a website that makes stable profit every month…the income may start small at first, but you are guaranteed to make stable profit for years to come. And over time, once you start working and managing the blog, you may even begin to increase your profits every month. If you ever decided you want to own a blog I can try my best to help you because I know a good company I am currently working with. I hope this helps. Feel free to message me anytime if you have any questions.
I’m actually trying to start a blog about my experiences of working online or becoming self-employed. The blog is currently under-construction right now, but I will be putting some free resources and information out there. http://myjourneytoselfemployment.blogspot.com/
Reid,
There is no "best" way. You can stay with your day job, manage your money well, and retire when you want to recoup your investments. People can get rich like that. Except you’ll be old by the time that happens.
You can take a risk and buy a franchise (i.e., McDonalds) or purchase a property and rent it out.
The only way I know of that you can earn a residual income would be network marketing. There are naysayers everywhere about network marketing, and I simply believe they are misinformed. Do research on network marketing first and see if it’s for you. Are you willing to put in the necessary work? Are you willing to sacrifice a lot of time and invest a little bit of money? These are the very questions everyone looking to start their own businesses should be asking, by the way.
Second, when you find a network marketing company you may like, do research on that company. http://www.bbb.org will let you know whether or not the company is legitimate. Read customer reviews. Look at their compensation plan. Do LOTS of research. Is there a good leadership? Good training system?
The number one thing you want to look at when you want to make a residual income is if you can eventually step away from your business and watch it grow. This takes a lot of training. The best way for training to happen is through a duplicatable system. Your downline won’t need to ask you to hold their hand; just show them where to get the information. And if they’re not looking to find their own information, they aren’t willing to put in the work and will be a bad business partner.
There are many many ways to build network marketing companies. I’m not going to share what company I’m in, but I will direct you to my website (in my profile) if you wish to learn how to build your network marketing business, no matter what company you’ve joined with. If you do want to know what company I’m in, feel free to send me a message.
To your success,
Rasheed.