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In my previous post on Michael Jackson, I had mentioned that Michael had become the poster child of what not to do with your money due to his almost $500 million of debt at the time of his death.
Since his death, Michael Jackson's Estate is now becoming a shining example of the power of residual income.
Over the last week, Jackson's album sales have soared to over 2.3 million digital downloads. Experts state that if this trend continues, his estate will easily climb out of debt and be worth millions, if not trillions of dollars over the coming years.
Residual income is a great place to be at in life if you can get there. Residual income is defined as: recurring payments that you receive long after the initial sale is made, usually in specific amounts and at regular intervals.
Examples of residual income include song writing, recordings, books, information products, network marketing, and affiliate programs.
As you move through careers and business opportunities, always be on the lookout for ways to leverage your time and money through creating vehicles of residual income.