Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. (1 Tim. 6:17-18)

Friday, July 3, 2009

The Michael Jackson Estate - saved by the power of residual income

Michael Jackson StarImage via Wikipedia

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.
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