What Happens If You Get Fired?

Currently you're contentedly employed. Well, suppose tomorrow you attend work as always and your employer lets you know that your services shall no longer be necessary?

This is a real possibility these days. There are many people turn up for work as always and then realize that they are not permitted to go into the building. The severance compensation which they get is definitely not adequate to live on, except if they have been employed there for an extended time.

In this circumstances, their only alternative solution would be to look for a position without delay, unless of course they have got some other ways to make money as a backup.

The wise individuals understand that nowadays, a single income stream will never be adequate. But rather than doing double jobs, they prefer a much better plan - RESIDUAL INCOME.

Residual income is essentially revenue that you don't need to work very hard to create. You put it in place once and it gets results for you for as long as you need it to.

The simplest supply of residual income will be the interest you receive from your financial institution. However this is nothing in comparison to various other options for residual income in existence. And you can find several.

Property investment is amongst the most dependable while offering by far the most highly profitable earnings. If you buy the ideal property, you may get a steady income stream through the rental. Throughout the loan period to purchase the investment property, your rental earnings may even cover the cost of your loan. When you pay off your loan, the rental earnings you continue to collect is completely extra income every month.

Now, just imagine should you do that with not just one but perhaps five additional properties.

Bear in mind, property prices increases annually. They will not increase instantly, however in 10 years time, you could confidently declare that the values may have essentially multiplied. After that you can sell it off to get a nice profit.

Yet another way in which properties can present you with immediate cash is when you refinance it. Let's assume that you are still getting rental earnings for that property, you may then make use of the rental to cover the loan. And you may repeat this time and again for that property. Experienced property investors refinance their investment properties consistently through the years to get a quick burst of cash flow whilst allowing the rental earnings obtained pay for the loan.

Lastly, the investment properties which you purchase is going to be around for some time, potentially throughout your whole lifetime. Just imagine if you can possibly pass on this legacy for your children that they may leverage on to generate income.

When it is all said and done, investing in property is really a long term strategy. They might not be as fluid as perhaps, stocks, but they are undoubtedly much less risky.

Is this not a much better source of residual revenue compared to keeping your hard earned money in the bank?

Wealth Mastery Academy organizes seminars and workshops to equip the masses with the latest wealth creation strategies to achieve financial freedom.