How To Build A Residual Income
Have you found your “how” to build a residual income? After reading news online, and thinking about what is going on in retirees lives, the importance of having enough money continues to raise its ugly head. (If this is not important to you, please forgive those of us who did not prepare so well for retirement. Nor did we get born into the right families to inherit a lot of money.)
Will our savings last?
Are you spending more time online? Being retired allows you to do this. The information availability is mindblowing to me. Like finding out we are not the only couple who are concerned about having enough money saved for rising health care costs.
Already medicare and supplemental insurance payments have risen and are taking a larger bite of the monthly income. When you add the cost of supplement insurance increases, there is a deficit in cost of living raises. At least in the budget, as it was originally set up.
We, like everyone else, simply adjust and move on. We are grateful for such good insurance, even though we hope never to need it.
My residual income
I kept coming back to where I am in my online career.
Building streams of passive income is a concept that has been so important to me. Actually, that is what kept me interested in learning to build a business online.
However finding a vehicle I felt was “my calling” has not been easy. Finding the learning site that included training has been such a blessing. The fact that I can budget the costs, and not have to use a credit card is important.
There are so many unknowns in this world. All that negative mind chatter that continues to rattle through, plus the fact that I am older now. All these reasons make me know that I have, for me chosen the correct route to go.
Are you spending your retirement being happy?
Yes, I know it is boring to find yourself retired, that I understand. I was blessed at retirement time. The pieces that fell into place. The ones that put me here, at this time and in this place were designed by someone besides me.
I know that the path to learning about online marketing and the ever changing online world happened because it was a good thing. Going into the project, knowing that being so challenged by technology would mean needing to start from the ground up. It was was a bit of a leap of faith.
Are you ready for a leap of faith?
When you know you will have to trust the program and then figure out where you fit in the process was a fun trip.
I love to learn. Do you? I know that there are some days that little progress is recognized. However, when you get enough background and basic education you can then proceed to learn and make better judgment calls about what you want to pursue. There is such a sense of self-pride.
Has it taken me longer?
Yes, it has. Much longer.
There have been a number of my network friends who are signed up for the learning programs for a short time. However, they soon desert the effort when their unrealistic ideas are not met.
They just wanted to get rich quick.
Others came armed with many years of skills that enabled them to move on to success quicker. We all came to learn. The support and encouragement along the way made the process easier.
Learning to make money online
Folks, this is not easy work. The work is not physically hard. There are no ditches to dig. You do have to be dedicated. It is not a get rich quick venture.
Yes, those people are out there who claim to be able to get rich quick. However, they come armed with a great deal more skill for online marketing than most of us.
Do we get distracted by all the wonderful claims they make? Sure we do. Even mature retired people.
However, when you are lead down a path that involves doubling down on your investment, the suspicion begins to emerge that this is a gamble comes to mind. The more you find out, the more you are aware.
Maybe some are comfortable with risking more money. When you are using your credit card to pay for training you cannot afford, you aren’t talking “retiree talk.”
Can this be a scam?
Not only does it cost $1000 or $3000, but will cost thousands more to follow the training guidelines and do the marketing. Words like scam come to mind.
A business is something you must think about. Be clear about. My personal goal was residual income.
Having a stream of income is something you must think about.
Being blinded by the love of learning and the challenge of learning how to move on the internet are all enough of a carrot to dangle in front of me. I get excited.
How about you? What does it take for you? I will admit that there has been lots of searching and looking to find what I really wanted to do.
For me, I had to learn enough to be able to make some decisions.
I also came to realize that a business that is not helping others will get you nowhere.
Am I disappointed that I did not make thousands of dollars in the first year? Yes, I am. However being of the school of mind that you stick to what you start I hung on through the 2nd year.
The good stuff
With all of this, mind you, while living a full and exciting retired life. Staying with grandkids for many weekends for parents to take business trips. Lots of overnight stays just because I wanted to.
Lots of shopping trips with our daughters, who live within driving distance for such day trips together. Some even meant being out of town a day or two. we love going to Round Top Market Days. That is along with the fun trips with Mr. B.
Could I have this freedom with any other kind of educational plan? I do not think so. All the while continuing with the process. What process?
Learning how to build a residual income
Learning some basics, so that when my calling came along it was recognized. This world moves fast.
Once you have some basic information to work with. Then knowing how to find the hot new markets to sell in. Yes, it is fun to know this stuff. But how little interest I really have in the new trends, what is “hot” on the market now.
Even though the knowledge is finally in my head, that just was not it for me. The market moves too fast. I am retired! just do not care where the latest interest and whatever is selling fast today is. To be able to create and offer something that makes people’s lives better. Over the long run. Residual income.
All the while learning to write to express oneself.
Self-publishing with Amazon
Then I began to find out about becoming an author.
Heaven knows I have lived long enough to have a story or two in my heart.
Now the process of learning how?
How to get the books out and to a readers hands. I know how to do that now.
This journey is again fun, and a challenge. Selling books is a different process in this the age of technology.
Even some of the more known authors have begun to use the self-publishing and quick publishing methods now available.
Why have they chosen to start selling on Amazon?
Because Amazon is the recognized leader in book sales. Then comes that fact that they pay more per sale than the established book publishers. Check out the Amazon offerings and see what you think.
What a great residual income stream.
Being able to publicize your own work. Turn the income into a residual stream for retirement, or just to make life better.
To know that your kids will not have to support you as you age.
That you can survive an increase in insurance premiums.
Book markets may ebb and flow, but with e-books for Kindles and Nooks, this market allows you to continue your writing through your lifetime.
Continue to build your residual streams of income. So far, interest rates have failed to do that.
What fun it has been to write a book for the younger grandchildren. Actually, there are 2 great grandchildren now. Time does fly.
The illustrator is working on the pictures for this book now. It is about the importance of drinking enough water every day. This has been near and dear to my heart as I learn more about the whole process of drinking enough water.
I wanted a way to share the importance with the younger generation who were too young to read my adaption of Dr. F Batmanhelidj’s “Your Body’s Many Cries For Water.”
I soon will be sending it to the illustrator as well. In the meantime, please check this link for information to help yourself understand the importance of drinking enough water, every day.