Freedom, Passion and Residual Income?

What do freedom, passion and residual income all have to do with each other you may ask?

In the past few weeks, I attended Tony Robbins Business Mastery in Fiji and read Robert Kiyosaki’s “Business School for People who like helping people,” and from both of these the key words I kept hearing were

“Freedom”     “Passion”    “Residual Income”     “Help others”    “Know your numbers”

After these constant reminders I realized that they may be onto something. Maybe these billionaires know what they are talking about. How many times are we told to model those who have already achieved success? I finally decided to listen this time.

I am so inspired to create residual income for myself and support others to think about it as well. So now that you are thinking about residual income, I will explain what I mean when I am chatting about residual income.

Residual or Passive income is income that you have made a deal or contract that pays you with minimal future effort. 

Yes, there is a income source that you don’t have to trade your time for.

Yes, there is an easy way to make money.

Residual income can be earned in various ways. Some of these ways include real estate, investments, commission and royalties. It usually does take 5-7 years to build a sizeable residual income that will cover all your expenses so that any work you do is out of passion and you have the freedom to choose what you want to do.

Wouldn’t that be an excellent way to live?

I challenge you to think of a few questions related to how you can earn and save more money for yourself

1. What are some ways that you can receive tax deductible savings? The Canadian tax system is created for business. What kind of small business can you get involved with that will allow you to create savings on your taxes?

ex. Low investment options include Consulting, Network Marketing and other home based businesses.

I know that some of you will cringe when you read network marketing. What shifted my thinking about network marketing and “pyramid schemes” was by looking at organizational charts – they are hierarchy. The person at the top makes the most money but others have the option of working hard and getting promotions so that they can also make more money. The difference in a good network marketing company is that the financial structure should be set up that you can earn more than the person who is above you. I wish regular organizations were set up that way as well. I would love to be compensated on my effort and make more money than a CEO of companies I consult with:) I have been researching organizational structures for years in different industries so if you would like further discussion on how network marketing organizations are structured, let’s schedule a quick call through manpreet@intoessencecoaching.com.

2. In what ways can you start creating residual income in your life? Is there way that you can earn commissions or income from investments?

I encourage you to discover a way to create tax savings and residual income in your life.

To schedule an Akashic Records consult or Angel Card Reading to shift money mindsets and clearing any blocks around money please contact me at manpreet@intoessencecoaching.com to schedule your leap into abundance.