Make Your Residual Income = Your Discretionary Inc
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Posted On: 05/12/2020 10:41:18 AM
Make Your Residual Income = Your Discretionary Income
I want you to know the distressing fact that about 80% of American homes have less than $1,000.00 of monthly discretionary or disposable income.
What is discretionary income? Discretionary income is the amount of an individual’s income (pay per hour) that is left over for spending, investing or saving after paying taxes and paying for personal necessities, such as food, shelter and clothing. Discretionary income is the first constraint which will disappear amid job loss or pay reduction.
What is residual income? Here, you have to be very clear about the language because what I am talking about is passive income not active or linear income described above. If you aren't familiar with residual income, it is a source of passive income that comes and keeps rolling in long after you have put in the initial effort as work. Previously, only actors and authors earned "residuals" for their work, but the Internet has changed all of that and there are now many ways to make money online and create your own residual income.
Residual income is the 21st Century model for sustainability. The old 20th Century model was linear income where we traded time for money. This linear model was set at a 1:1 ratio, one hour in and one hour of pay out. I know because I did it for 38 year in the operating room as an orthopaedic surgeon and did well but it was a linear relationship.
The global market via the Internet is now a 24-hour a day phenomenon which must be entered into if sustainability of personal financial well-being is to exist. This new model of residual income is like increasing your personal GDP via leverage, changing the ratio to 1:12 or 1: infinity.
This change is made possible through a company that is now designated as the largest essential services and energy company in the World. This is where your residual income can become your discretionary income, which can evolve into a massive primary income.
Please and thank you,
Doctor Eric I. Mitchell, # belief + desire = SUCCESS
I want you to know the distressing fact that about 80% of American homes have less than $1,000.00 of monthly discretionary or disposable income.
What is discretionary income? Discretionary income is the amount of an individual’s income (pay per hour) that is left over for spending, investing or saving after paying taxes and paying for personal necessities, such as food, shelter and clothing. Discretionary income is the first constraint which will disappear amid job loss or pay reduction.
What is residual income? Here, you have to be very clear about the language because what I am talking about is passive income not active or linear income described above. If you aren't familiar with residual income, it is a source of passive income that comes and keeps rolling in long after you have put in the initial effort as work. Previously, only actors and authors earned "residuals" for their work, but the Internet has changed all of that and there are now many ways to make money online and create your own residual income.
Residual income is the 21st Century model for sustainability. The old 20th Century model was linear income where we traded time for money. This linear model was set at a 1:1 ratio, one hour in and one hour of pay out. I know because I did it for 38 year in the operating room as an orthopaedic surgeon and did well but it was a linear relationship.
The global market via the Internet is now a 24-hour a day phenomenon which must be entered into if sustainability of personal financial well-being is to exist. This new model of residual income is like increasing your personal GDP via leverage, changing the ratio to 1:12 or 1: infinity.
This change is made possible through a company that is now designated as the largest essential services and energy company in the World. This is where your residual income can become your discretionary income, which can evolve into a massive primary income.
Please and thank you,
Doctor Eric I. Mitchell, # belief + desire = SUCCESS
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