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Multiple Sources Of Passive Residual Income (a.k.a. “Beach Money”)
Passive Residual Income is “Beach Money”
This phrase was coined by a friend of mine, Jordan Adler, in his book called Beach Money. He used this to to describe Multiple Sources Of Passive Residual Income which leads to financial independence. Basically it means getting paid over and over and over again for work you do one time. It allows you to go on vacation, sleep late, take a week off and just do nothing; and yes, it allows you go to the beach and get paid whether you go to work or not.
I’m not talking about working hard for your money. I’m not talking about working smarter for your money. I’m not talking about working for your money at all, because “beach money” is 100% Multiple Sources Of Passive Residual Income. It comes in whether you work or not!
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Residual Income – THE Pathway To Financial Independence
In a recent issue of Home Business Magazine the statement was made that “. . .you will never get rich, nor gain financial independence or financial freedom working for someone else! When you’re working for someone else, you’re making them rich, but not yourself.”
The best definition of financial freedom I’ve ever heard was in a workshop I attended called “The Millionaire Mind” conducted by T. Harv Eker. He said:
“Financial freedom is being able to buy the things you want and live the lifestyle you desire without having work for it or rely on anyone else for money.”
So you’re probably asking “What sources of income can do this?” The list of possibilities could go on for pages but let me share a few just to give you an idea of what I’m talking about. . .
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