Residual Income – Why It’s Needed Now More Than Ever
- Nov 24, 2020
- 2 min read
Written by: Natasha Choat, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
2020 has been the year of changes in so many ways.
The world, as we know it, is changing. Careers that were once deemed to be lifelong choices are disappearing almost daily. As countries and states continue to close borders, people’s livelihoods are in the balance. We learn that exchanging our time for money (active income) is no longer a safe option and that we need to be open to new opportunities to earn an income.
So, what is residual income? Residual income allows you to increase your wealth passively by earning money while you eat, sleep, watch Netflix and spend time with your family. With the availability of social media and other online platforms, finding an opportunity for residual income is easier than ever before.
Residual income refers to money that you continue to generate after the initial works is done. There are many options to generate alternative income; however, most are much more time-intensive than others. When you earn residual income, you aren’t required to be present or involved to still receive an income.
While there is an ease that comes from having residual income, there is still an element of work required; however, the time invested is significantly less than with active sources of income.
Jim Rohn is famous for saying:
“I’m working full-time on my job and part-time on my fortune. But it won’t be long before I’m working full-time on my fortune. Can you imagine what my life will look like?”
My question for you is: Can you imagine what your life will look like?
For more information, follow me on Facebook, Instagram and join my Facebook Group!
Natasha Choat, Executive Contributor Brainz Magazine
Natasha Choat is a leading Non-toxic Lifestyle Coach, entrepreneur, and former Human Resources professional. Her passion comes from her son being diagnosed with eczema and anaphylaxis and the link between the products we use every day in our homes. Natasha cares about your health and your wellness and her mission is to help people make the switch to a non-toxic living lifestyle, help with today’s biggest health issues and earn a residual income.
