What exactly is a recurring income? and why you need one.
“If you are not building a residual income in whatever you do, you will have a miserable demise to the grave”
Your government knows this and steps in to help the general ‘common sense*’ by taking money out of your salary every month and save it for you, because they know the ‘common sense*’ won’t do this and live day to day and just hope that things will get better. They call it a pension.
*Common sense: the modern day term for people who do what they have to do to get by, they take few risks, sell time for money until they have no time left, and ridicule ‘chancers’ who ride by the seat of their pants and try to better their lives in the pursuit of happiness.
To be fair though some are taking control and saving towards a pension above what the government takes and learning to invest and trying to be pro-active realizing time is not on our side striving towards a better future.
I mentor younger people and I always say a Job is never a bad thing as long as the long term benefit is you are gaining experience that can be used to better your own life later on. When I was younger every job gave me a skill that can be called upon now for my own advancement.
What is a recurring income?
To me it is; ‘Regular money that comes into your life whether you work or not’ also called residual income.
Many struggle with the premise, because society teaches and prepares us to work hard for someone else and get promoted, but more often than not this ties you to the company and you are stuck in catch 22 as more responsibility and more salary comes with less time for you. Self employment is appealing as there is no boss, but many of us will tell you; you become your own worst boss, working way more than is healthy.
Recurring income sounds too good to be true to many, but here are the typical examples of recurring income that comes from:
Interest of savings in a bank.
You must have at least 1 million GBP in a bank to make around 2-3% at the current rate, 2% of 1 million pounds is 20,000 GBP a year, that is the just less than the average annual salary in UK, so if you have less than a Million pounds in your pension pot, you are not going to have a very nice retirement.
Winning the Lottery.
More chance of getting hit by lightning twice on the same day in 2 separate places! If this is your rainy day money, then you need to go back to school, wait for a sunny day though!
Don’t the barrage of television shows make it look so easy? You simply buy a zombie property for buttons, spend a bit and then rent out, voila you can retire young! Very few TV shows show the misery and lengthy court battles landlords have with troublesome tenants. I also think the government is trying to tell you something, like; ‘There’s not much cash left in our pot, too many people claiming pensions now, so you had better start learning how to make your own money!’
Residual income is the main emotion M.L.M. often called Network Marketing, sells, work for 2-5 years like a robot, sell a product or service, recruit people, and live of your income forever.
The hard part is; it is such a lifestyle change for so many it becomes untenable for the vast majority who try it. I say try, because when you say try, it means well they go at it half-hearted and wonder why they get nowhere. M.L.M. has produced a lot of millionaires, I have met many, and it is open to anyone, but for most people when it comes down to introducing friends, it’s a bridge too far especially for the reserved nature of Brits.
Many of the common sense knock it and reiterate what they heard from their successful mate with his own ‘successful’ business who never gets a moment to himself and looks like he will have a coronary at 40 years old. They say ‘only 2% ever make it in MLM’ and they are 100% correct, BUT, experience is such a wonderful thing and it bears balance in thought and it is also true to say the same figure is given to most conventional bricks and mortar new startup businesses.
Again in my experience it’s only the top 2% who are making enough by starting a website with a blog, writing daily, sharing each day to social media, which by the way has changed so dramatically, that free is hardly worth trying, so the only way is paid advertising, and publishing adverts on their site and paid a commission by their sponsors.
With over a billion websites out there, and how easy it is to start a website now, makes it very difficult as a startup to rely on digital marketing as your main source of branding. You have to be really niche to make enough to live on in affiliate marketing and it really should not be included here because they day you stop blogging and sharing with paid ads your website tumbles down the search engines to oblivion and so does your income.
We do have a way to help you make cash quickly AND earn a residual income at the same time:
Work as an affiliate for biz-find:
Work from home in your own time, no commute to work.
You are finding leads from an existing membership who know who we are, so no cold calls.
You are directing members to other members who are actively looking to buy their products. Giving them something they really want: A potential new customer!
We pay 50% commission on sales so you can easily make a minimum 30 GBP a day paid weekly.
And each month you get 10% from what your clients pay to eternity! Over 90% of our clients stay with us because we offer them a cost effective service. That is recurring income!
What are you doing to protect your future?