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Time or Money?

     So which is best, and why?  Let's look at how much money you'd need to invest to get a return that could be used to pay the mortgage, the car payments, or even better, a big enough return that would enable you to quit the day job.

     Look at this chart to see how much money you'd need to get the return you need: example, you would need to have $240,000 in the bank to get a return of $800 per month assuming an Interest rate of 4%...
 

$800 Per Month $2,000 Per Month $5,000 Per Month $10,000 Per Month
Interest Rate Amount in Bank Interest Rate Amount in Bank Interest Rate Amount in Bank Interest Rate Amount in Bank
2% $480,000 2% $1,200,000 2% $3,000,000 2% $6,000,000
3 320,000 3 800,000 3 2,000,000 3 4,000,000
4 240,000 4 600,000 4 1,500,000 4 3,000,000
5 192,000 5 480,000 5 1,200,000 5 2,400,000
6 160,000 6 400,000 6 1,000,000 6 2,000,000
7 137,143 7 342,957 7 857,143 7 1,174,285
8 120,000 8 300,000 8 750,000 8 1,500,000
9 106,667 9 266,667 9 666,668 9 1,333,335
10 96,000 10 240,000 10 600,000 10 1,200,000

     Now let's compare using your Time. First and most important is that you're not risking your money, and you're not at the whim of the economy causing interest rates to drop, or the company to fail.

     So what do we mean by 'using your time'?

     Using your time to build a network, so that you can then leverage that network, is a well proven way to build a Residual Income.

     It's true of course that once you've created a sizable Residual Income, you'll use some of that income to produce even more income by investing in property, precious metals, or shares, etc. And most likely you'll give back to society in some way.

     Time is something we all have; we just have to prioritize it. Everyone can find the time to do something they really want to do, and prioritizing your time to build a Residual Income, whether it's to prepare for retirement, or to regain control and have a quality of life, is undoubtedly worth doing.

     Why you absolutely have to leverage your time!

     What is leverage? Leverage is what makes people like Richard Branson of Virgin fame, Bill Gates of Microsoft, and many others, so financially advantaged. And it works like this:

     Lets take Microsoft as an example. The company employs an estimated 25,000 employees.
     Multiply that by 40 hours per week for each employee, and you will get an answer of 1-million-hours.
     So Bill Gates is being paid on the productivity of 25,000 employees equaling 1-million-hours!

     Now compare this to the hours that you work as an employee; if you work full time you might manage 80,000 hours in your entire lifetime! Do a quick calculation and you will see that Mr. Gates is being paid on the efforts of 12:5 employee lifetimes - each week!.

     Now you see how the rich get rich; they are leveraging on other people's time, and the system works right down to the the smallest company.

     The good news is that you can do the same, but in a way that also gives everyone in your team the power to do the same.

     As an example, let's assume that you have only 100 people in your team, and they're each averaging 5 hours per week in building their business. You now have a leverage of 500 hours per week, plus your own hours.

     I won't labor the point as I'm sure you can now see why leveraging is the key to long term financial success.

     So what is Residual income, and why is it a necessity?

     Anyone with a job is earning Linear income, which means that they get paid for how much work they do, no work equals no pay. No job, no pay! But residual income, once built, will see you getting paid whether you're asleep, on vacation, or enjoying leisure time with family and friends.

     Another very important advantage of owning your own business is the Tax Advantages - See this video, then your accountant.

The Remarkable Tax Benefits of Owning a Home Business.
 

The video is obviously targeting for the USA, but most governments encourage small businesses.
 
Check with your local accountant how to save taxes where you live.
 
Makes starting your own home business a necessity.




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