Friday, July 27, 2012

Residual Passive Income Is Necessary If You Desire Financial & Time Freedom

Residual passive income is necessary if you desire financial and time freedom. If you currently are an employee working for someone, you must exchange your time for an income. Without a residual passive income your wealth and ability to have time freedom has a cap on it. In corporate America the freedom of choice concerning your lifestyle of doing what you want to do, when you want to do it and where you want to do it is nonexistent unless the residual passive income is there.

Most of us work at a job and as mentioned must trade our time for money. The time paradox can be broken down into to types of time. Indentured time which is the time we must spend working on our job, the time we spend eating, the time we spend sleeping and any other time that we must spend meeting our financial liabilities. Free time is the time we all seem to be wanting; however unable to obtain for various reasons.

Once we have an understanding as to the only solution to the situation concerning little time freedom, no financial freedom and how to acquire it. We can then begin to live a lifestyle most people dream about. This is both financial and time freedom. So to sum up there are only two types of time. Passive time and trading time for dollars time. The wealthy build legacies through passive income. So this is the answer. Residual passive income is essential for financial and time freedom.

My question to you is this: Are you currently stressed out over money? Are you and your spouse arguing over finances? Will you be arguing over money next week, next month and next year? Well a residual passive income eliminates those stresses. Is your residual passive income lower than your expenses? And let me add this money does not equal lifestyle. Time does not equal lifestyle. Only residual passive income equals lifestyle.

Would you like to find that magic number needed to begin living that lifestyle you deserve? If you answered yes then do this. List all your expenses and add them up. Calculate your expenses on the mortgage or rent, groceries, heating or air conditioning, health insurance, car payments, car maintenance, credit card debt, internet, cable TV, cell phone and any other expenses you have. Once totaled, this is your magic number.

Now here is your residual passive income goal. You must have a highly automated, low-maintenance business designed to generate income, free up time, and generate a high return on investment for it's owner. So in summation your residual income must be at least your expense magic number.

Robert Kiyosaki shares what he calls the cashflow quadrant in several of his books. If you draw a large positive sign on a piece of paper ( eg. + ) Then write a capital E on the top left, a capital B on the top right, a capital S on the bottom left and a capital I on the bottom right you will now see where you need to be in order to have that lifestyle you dream of.

The E stands for employee - you don't want there. Here you are trading time for dollars, no time freedom, paying high amount of taxes to name just a few negatives. The S on the bottom left is almost as bad. It stands for self-employed and again no time freedom with many negatives. So the bottom line is you do not want to be on the left side of the quadrant.

Now on the top right is a B. This is a business owner with many negatives. One of which is again time freedom. Now here is where you want to be. On the bottom right of the quadrant. This is where you placed the I. The Inventor or investor is where now you create the residual passive income. This is where your money goes to work for you without you being active with it, thus giving you time freedom while your money grows exponentially.

So you might be asking, what is residual passive income? It is any kind of income where you do not have to actively work for that income while you earn money from it. The 3 ways to accomplish this is through royalties, inventions and home-based businesses.

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