It does not mean you will not have to work. To begin with, you will have to work very hard. Most people (such as myself) will need to build their residual income while continuing in a “normal” job. But, once the struggle is over, the benefits can last a lifetime.
Building a residual income is not easy. Many people prefer to work a normal job. It takes hard work and persistence.
There are many ways to build a residual income. In essence, they all fall into the category of business and investing.
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Creating an Ethical Residual Income
The Survival Fitness Plan (SFP) method of building a residual income focuses more on creating time as opposed to money. Also, to do it in a way that does more good than harm.
I found the best way to do this is to create digital products and then automate the sales online. This allows you to minimise many of the issues of a conventional business that would need your time. Things like stock control, managing permanent employees, etc.
Also, you help others with the sharing of useful information.
Once you have spare wealth, you add more income streams with ethical investments.
Over time I will expand on these lessons and make individual posts will for each.