The Prosperous Life

Monday, 24 October 2011 16:57 Last Updated on Monday, 24 October 2011 17:05 Written by Joselito Laudencia

Today I joined Rev Chris Michaels and Stephanie-Pifer Stone on their radio show, "The Prosperous Life" on www.unity.fm. Thte topic for discussion was "Spiritual Entrepreneurship."

I'll have the download available here for listeners later today, but for those of you who couldn't make it, I wanted to highlight the 3 Types of Income to help you achieve Multiple Streams of Income:

• Active - Most people know this income. It's our traditional jobs. We trade in time for money. One hour of work gets us one hour of negotiated pay of compensation.
• Passive - Here, our assets generate income. Assets could include your savings account, money market accounts, stocks, investments, businesses, rental property. With active income, we do the work; with passive income, our assets do the work for us.
• Residual - This is one of my favorite types of income. In residual income, you do the work once, and then you continually get paid for it over and over again. Most people are familiar with royalties. Write a book, sing a song, act in a movie -- we do the work once, and then through its distribution, we get paid over and over again. One of my favorite ways to make residual income is through network marketing.