17 January 2008

Residual Income Creates Opportunities for Change

In the Sept/Oct 2007 issue of The Utne Reader, there is an article titled, The New Elders. The premise of the article is that the BabyBoomer Generation can still save the world. The premise of this post is that residual income is the door opener to making a difference in the world. If you have a source, or multiple sources of residual income (income that arrives in your bank account while you are doing something else), then you have the ultimate freedom in how you spend your time.

The Utne Reader article quotes author Marc Freedman (Encore: Finding Work That Matters in the Second Half of Life). Freedman states, "Faced with the practical necessity of extended working lives, boomers have made it a virtue getting busy on their next chapters. A generation that set out to change the world surely did, by changing the way the world thought about the purpose of work...."

Because people are living longer and are vital longer, there is a tendency to take on a second "career". Sometimes it is for financial reasons, and often it's to keep one's mind active and oneself engaged with the community. So here you have the largest generation ever, hitting 55 or 65 or even 70 years old and having the energy and the enthusiasm to devote to the needs of their community, the country and the planet. What an opportunity.

Network marketing is a means for creating passive, residual income. Though starting with a network marketing company is not a recipe for instant success, commitment, hard work and follow-through are the ingredients necessary to reach a point the residual income is appearing in your bank account on a monthly basis. If you talk to professionals in the network marketing industry, you will learn that though some make quick money due to their contacts and years in the industry, most people should expect to work hard and build their business for 3 years. How many other types of business can you build to a level of success in three years, that will enable you to be gone from it for weeks or even months at a time, and the money still comes in?

Once you are at that point in your business you can go to Uganda for 2 months and volunteer in an orphanage. Of you can join an organization in the US that is actively working and lobbying for healthy care reform. You will not be beholden to a desk or an office on a daily basis. Once you have set yourself up with a flow of residual income you will be able to not only go someplace warm in the winter, but go there long enough to be a traveler instead of tourist. The world opens up, and if you are of an altruistic bent then the possibilities are endless in terms of how you can use your time and your income to become an agent of change on a very needy planet.

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