There is no question that a residual income is the very definition of easy money. Residual income uses time leverage which means money can be made fast too. A residual income is exactly what you need to make money hand over fist. In this article we explore 3 ways to create a passive income stream.
* One way is utilizing time leverage.
If you can come up with a way to do say 20 minutes work that makes you $4 dollars a day in residual income, then you can do 500 hours of work over a few months to create an income of $4000 dollars a day.
* People leverage
If you devised a way to make a few bucks a day in residual income and instead of making $4000 dollars a day, you make $40,000 dollars a day, you can actually use people leverage to achieve this. With such an income you could easily afford to pay well above minimum wage to get quality staff and you can train them to do the work you were doing, this amplifies your results dramatically and quickly.
* Using money leverage
If you created an income stream like the example above and it lasted for a few years, you could put together $1 million dollars. A million dollars is an exceptional figure because it can be used to make usable returns. On 7% in a bank term deposit, you can earn an income of $1400 dollars a week for just depositing the money in a bank. Therefore, the leverage a million dollars gives you can be applied to lifestyle.
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