Definition: Once the individual pays all debts and expenses, the remaining income in their possession is the individual’s residual income. This can include, a mortgage, car loan or other type of debt. Generally, one calculates their residual income after paying all expenses for that month. Furthermore, an individual calculates their residual income on a monthly basis.
Believe it or not, there is such a thing as getting rich overnight. Don’t take it too literal, you won’t wake up with millions in your bank account. Instead, anyone can greatly increase their income within the year. Look at the successful business people of today and do your research. You’ll notice a trend, that a majority of them were not born into wealth and, instead, earned their riches as time went by. They now make enough money to last for generations. But, how exactly does that happen, and can it happen to anyone?
To sum it up in one sentence, residual income is the money you generate after completing the task at hand. It’s the money you make while you’re at home, with your family or snoozing away the night. It doesn’t require anything as much as a lift of the finger and can be done by anyone, anywhere. That should answer your question, even you can do it.
A good example of someone who made residual income was Steve Jobs, prior to his death. The initial Macbook Pro was released in 2006 and, believe it or not, Steve Jobs was still earning money off of this product for years after its release. This passive income required no additional work to be done to the product, instead the sales just came rolling in. But in between the release of the product and Steve Job’s death, things such as manufacturing, marketing and more were required to make quality passive income.
Don’t get the wrong idea about residual income, it requires work, and it’s not a way to get rich quick while sitting around doing nothing. In order to get the ball rolling, you’ve got to do hard work. Once you do get the ball rolling, your attention is needed to ensure things run smoothly.
If you are to begin the process of making residual income, you should get the fairytale version of lying around and doing nothing out of your head. Don’t let the name fool you, passive income requires work, no matter how much the word “passive” is thrown around. Lying around once the funds begin generating, in fact, gets a bit boring. Not everyone enjoys working, but many of the billionaires of today continue to work even after their residual income takes effect.
There are many ways one can begin making their passive income such as creating/selling a product, leasing/renting out properties, selling the rights to a product you own, etc. One of the top ways a person makes residual income is through crowdfunding real estate.
Crowdfunding real estate works simply by investing money with one of DiversyFund’s top real estate properties – as little as $5,000. Once you’ve invested, any funds you make off of the investment is immediately deposited back into your account. Your investment and its returns are given back to you to make reinvesting simple and easy.
This is where the work comes in, investing and getting your return is only half of the residual income process. Before you start investing, you must be sure to conduct the proper research. This is also referred to as due diligence. By doing so, you can be sure you’re investing in a sound investment. After that, simply start investing and earning the residual income you’ve been looking for. To keep the income coming, we’ve made reinvesting as simple as possible for you too!
Now that you know what it takes to make residual income, why not begin now? Investing with DiversyFund makes things as passive and easy as they can be.