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Creating Residual Income: Be Like Bill Gates and Microsoft

By: Michael Laleye

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There are a variety of reasons why people feel the need to create a steady source of residual income. Some are either in or fast approaching the age where it's time to start thinking clearly about retirement and what will happen after you are no longer able to work. Others are not yet at that point in their lives, but would like to have a family, or purchase their first (or second or third) home. Still others have other castles in the air that they are looking to fulfill--such as finally owning their own business, or remodeling their house.

In essence, life takes money, money takes work, and work takes time. Or does it? In the new millennium, many regular people out there have found it possible to create residual income as a financial cushion, or backup, for their primary source of income. It's a sad state of affairs when your nine to five job isn't always reliable enough for a person and their family to live off of. It's sad when ordinary professions don't bring home the bacon anymore, but having another source of income, a residual source of income that only takes spurts of work to generate revenue, is all too important for your financial security.

There are many ways to create residual income and frankly not every way is for every body. There are some things that require more work, or a different type of work, than some people are able to do or accustomed to doing. Real estate, for instance, choosing and sometimes having to fix up houses, not to mention keep up the rental properties and go through all of the financial issues that come along with being a landlord.

And then there are other ways of creating residual income like selling the rights to a book or screenplay you wrote or an invention that you have created. Creative ways of building a secondary source of income are, obviously, not for everybody just as purchasing and maintaining rental properties is not for everyone. Unfortunatly or fortunately for osme, creative abilities are not always the strong point--but they are an option for the softer souls out there who have been looking for a way to generate extra income in a one-shot type of way. Just find something YOU are good at, and are passionate about, and the rewards will be greater.

Bill Gates' fortune that he made from Microsoft--residual income. He put forth the initial effort that it took to develop the program and now he sells it and makes billions of dollars a year! What a way to make some extra money! Not everybody is Microsoft-bound with their residual income endeavors, but Bill Gates is a good example of how great things can happen financially to people who take steps to secure their futures by attempting to create an alternative source of income.

Article Source: http://depositarticles.com/

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