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Tuesday, 24 December 2019

A plan to stop work quickly

A plan to stop work quickly

A plan to stop work quickly - Hire A Virtual Assistant
A plan to stop work quickly

You're left with one major problem after you've worked out how much cash you need to retire–actually, two: how long you're going to need that money and where you're going to get that money! Okay, in a way, both have the same reaction. Residual income is found to be at least consistent, but potentially growing. Definition-based residual income is recurrent income, usually without recurring effort. For example... If you're constructing and renting a house. The rent you earn is residual in that, beyond the initial construction, it comes in routinely and without extra effort. Once you have paid the price of your repairs, you will have your remaining income. You'll have that income as long as you keep the house–and as long as it brings gain, you can keep the house–preferably as long as you live!

So what kinds of investments offer with minimal risk and fluctuation residual income apart from real estate? Okay, you buy dividend paying stocks or income trusts if you have enough seed money. You can easily research a company's dividend history, look for those that year after year pay stable dividends. This is perfect for banks and insurance companies. If you've never missed a dividend in the last 20 years, you've got a choice. If the dividend payout has gradually increased over time, you will also have a strong winner. What the stock price does, you don't really care, you want to know how much dividend you can rely on from the firm.

An investment of $500,000* in a variety of dividend-paying stocks that allow you to retire at perhaps $50,000 per year*(* Such figures are just impossible or verified examples). If $50k is enough for you to retire and live on for the next, however long you will know how much you need to accumulate before you can retire. The advantage of dividend income is that most Western countries have much lower tax rates on investment income than earned income taxes. So in all directions, you get a break.

I suggest that you look at some great online businesses that generate revenue. Perhaps you're not going to make millions–it's also possible. But if you could get more money in the next few years than working (unless you're an E*ron CEO)–and you're continuously reinvesting that in a residual investment vehicle, you might be able to retire in real time. Your online business would also be residual and would create multiple income streams by increasing and reinvesting some of that income into other fields.

But if you're like me, how to come up with that initial investment is the first major hurdle. Okay, you're building a business that needs less capital. Then you use your income to invest in other forms of residual income. Internet Marketing is a great place to start with regular rising opportunities as more and more people are coming online. It's easier than you think, but on your part it takes some practice. The best thing you can do is find a mentor–someone who has already done it and is willing to help you get started. Don't umm and haw–the worst thing that can happen is that you don't make all the money you figured you'd make, but if you didn't do anything, you've made more than you would have, and depending on the kind of life you've had that little extra might be enough!

Thank you for reading, Your Rich Cousin (Author and Business Success Story) Get the free e-book I started and helped me start making money at http:/www.richcousin.com It's so straightforward and easy to understand and you'll get the support you need to start making a great online income.

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