Making Passive Income Beats The Heck Out Of A 401K Passive, or residual income is the best answer for your retirement portfolio.
Actually it just beats the socks off of anything else you'll do.
It is really not complicated, in reality, it's just downright simple math.
In the best of times, if you had $1M stashed away in very wise investments, you would create a return of about $100,000 per year or $8,333.
00 per month.
That's if you had a cool million floating around for retirement.
But to get there, you would have to put away, somewhere around $20,000 a year for your entire career.
Even in pretax dollars, that's a whole lot of money being socked away that you can't benefit from now.
But imagine if you decided right here and right now to try and generate a residual, passive income rather than focusing on trying to make a salary and putting a piece of your money away for retirement.
How would that look? The quick and basic math is this; assuming you had a smaller target of retiring with say $5,000 a month income for the rest of your life.
If you really pushed to generate a salary of $5,000 a month, you would need to put away close to $1,000 a month of that for retirement, so your income would be $4,000 a month before taxes.
Now instead, if you made a residual income of $5,000 a month, you would not need to put anything away for retirement because passive residual income, keeps on coming in> This happens regardless if you're on the beach or hanging out with your friends.
So, you needn't put $1,000 away for retirement now, meaning you're able to spend $1,000 a month more now and when you retire (and that could be at anytime you wish) you will have your $5,000 a month income.
How Does Recurring Income Protect Your Family? This is one of the best parts about recurring income.
Because it is recurring, if anything were to happen to you, your loved ones will continue to earn that income, month after month, year after year.
So again, it's worth the effort and time to have the ability to build a passive, recurring income over a salary.
With a salary, you could have a life insurance policy, but, again, that could cost you additional money.
Also, that life insurance policy only kicks in when you die.
What happens if you're injured? Sure you are able to spend more money for an additional policy, but with recurring income, you do not require those policies because the income rolls in regardless of your health.
Finally, the other advantage of passive or residual income is that, unlike a job, it doesn't end when you do.
If you tell the boss, you're planning on leaving for a few months vacation, you'll likely lose your job.
But, even if you were to somehow have that job when you returned, you wouldn't have any income for that period.
Just another reason why it makes more sense to seek out a way to develop an ongoing income stream.
What Are My Choices For Making A Passive Income Stream? There are many opportunities including, Network Marketing, Commercial Real Estate and certain forms of affiliate marketing programs.
There are also risks with all of those programs, and in the case of commercial property, there is usually a reasonably substantial investment.
So the best routes are typically network marketing and affiliate programs.
Check online for the best option for you and make sure it's something you want to do.
With the right company and a solid investment of time for education and selling passive income could be an excellent option for your future.
Actually it just beats the socks off of anything else you'll do.
It is really not complicated, in reality, it's just downright simple math.
In the best of times, if you had $1M stashed away in very wise investments, you would create a return of about $100,000 per year or $8,333.
00 per month.
That's if you had a cool million floating around for retirement.
But to get there, you would have to put away, somewhere around $20,000 a year for your entire career.
Even in pretax dollars, that's a whole lot of money being socked away that you can't benefit from now.
But imagine if you decided right here and right now to try and generate a residual, passive income rather than focusing on trying to make a salary and putting a piece of your money away for retirement.
How would that look? The quick and basic math is this; assuming you had a smaller target of retiring with say $5,000 a month income for the rest of your life.
If you really pushed to generate a salary of $5,000 a month, you would need to put away close to $1,000 a month of that for retirement, so your income would be $4,000 a month before taxes.
Now instead, if you made a residual income of $5,000 a month, you would not need to put anything away for retirement because passive residual income, keeps on coming in> This happens regardless if you're on the beach or hanging out with your friends.
So, you needn't put $1,000 away for retirement now, meaning you're able to spend $1,000 a month more now and when you retire (and that could be at anytime you wish) you will have your $5,000 a month income.
How Does Recurring Income Protect Your Family? This is one of the best parts about recurring income.
Because it is recurring, if anything were to happen to you, your loved ones will continue to earn that income, month after month, year after year.
So again, it's worth the effort and time to have the ability to build a passive, recurring income over a salary.
With a salary, you could have a life insurance policy, but, again, that could cost you additional money.
Also, that life insurance policy only kicks in when you die.
What happens if you're injured? Sure you are able to spend more money for an additional policy, but with recurring income, you do not require those policies because the income rolls in regardless of your health.
Finally, the other advantage of passive or residual income is that, unlike a job, it doesn't end when you do.
If you tell the boss, you're planning on leaving for a few months vacation, you'll likely lose your job.
But, even if you were to somehow have that job when you returned, you wouldn't have any income for that period.
Just another reason why it makes more sense to seek out a way to develop an ongoing income stream.
What Are My Choices For Making A Passive Income Stream? There are many opportunities including, Network Marketing, Commercial Real Estate and certain forms of affiliate marketing programs.
There are also risks with all of those programs, and in the case of commercial property, there is usually a reasonably substantial investment.
So the best routes are typically network marketing and affiliate programs.
Check online for the best option for you and make sure it's something you want to do.
With the right company and a solid investment of time for education and selling passive income could be an excellent option for your future.