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In a world full of opportunity most people don’t see, it’s unfortunate that they don’t live to their full potential. God’s plan was never for you to only survive and make it through life but to thrive. Residual income is one of the answers to life’s problems.
The people I have seen that live like this for the most part have multiple streams of income. They allow them to do so without having to put much more effort than they did when they created them.
Let’s look at some of the benefits you can enjoy in life when you work towards earning passive income.
1. More options
Residual income gives you the opportunity to live according to your own terms. About 98% of the world population are forced to live the kind of life they don’t want because they have no other choice.
These are people that you find in the proverbial rat race of life who are merely existing but not living up to their true potential. It’s worse when you’re subjected to ruthless employers who will pay you just enough to not quit your job.
People that have passive income can choose the lifestyle they want to live. As a believer it gives you the freedom to live out God’s purpose for your life to its fullness.
The major obstacle to the majority of people in living to their full potential is a lack of time and the money to make it happen. What is it that God has called you to do on this earth?
God’s purpose for your life is big and having a residual income stream can help you in a big way to achieve success in your pursuit.
To be clear this is not to say that without residual income you can’t fulfill your purpose. Extra streams of income certainly help you to achieve more effectively when you have the required resources.
2. Setting up future generations for success
Your children and children’s children will have the freedom to plan their future accordingly because they will have a foundation on which to build upon.
I have observed some successful people I know who developed a culture of making provision for the next generations in their bloodline. They don’t think only about their present needs but also work to leave an inheritance for their descendants.
We find this principle in the Bible in Proverbs 13:22 where it says, “A good man leaves an inheritance to his children’s children, but the wealth of the sinner is stored up for the righteous.”
Life must be progressive such that those that come after you get a better start to life than you did. If people always start from scratch it means that there’s no succession planning in that particular society.
Passive income allows your family to have a foundation to keep growing your empire and start other initiatives too that require money.
If you think about the fact that when you die you cannot leave a job to your descendants because you don’t own it.
True wealth creation starts by understanding that while you may be working for someone you must develop something of your own that will be of benefit to your family.
3. Happy homes
Most problems in a family arise due to having limited resources with which to work with. I have heard that on average 50% of divorces around the world boil down to not having money among other issues like breakdown in communication.
Women in particular have a need for security and when they don’t have that it creates problems in the home.
“A feast is made for laughter, and wine makes merry; but money answers everything.” ~ Ecclesiastes 10:19
More and more women are pursuing residual income streams through network marketing to take care of their families. I have heard one person say that money doesn’t buy happiness but it ranks right up there with oxygen in terms of importance.
In other words you can’t afford to ignore the importance of money in your life. The key to success with money is not allowing it to be your god and also understanding the importance of having it.
If you’re married you must agree with your partner on the projects to embark on to create streams of passive income that will take care of your retirement needs and other important things in your life.
Even if you’re not yet married it’s good to plan for this more so when you’re still young because your biggest advantage is time and energy to accomplish a lot.
4. Eliminating poverty
Poverty was never part of God’s plan for your life. When you look at the first 2 chapters of the book of Genesis it gives you a picture of the life God wanted for you.
A life with abundance and peace of mind where there is no need. Don’t listen to people that believe being poor is being spiritual. Jesus didn’t die just to save your soul from hell but also to experience heaven right here on earth.
If you want to know how to be successful with your finances understand that eliminating a poverty mentality will be one of the important steps. You must have an abundance mentality to perceive the opportunities that are around you.
In all earnestness there’s no shortage of resources in the earth. There’s just a shortage of belief to receive God’s best.
This alone should be enough motivation to work towards building up a passive income stream. When you become blessed by having residual income remember to be a blessing to other poor people who need help.
You are blessed so that you can be a blessing to other less privileged people. The more you give the more of a successful person you will become because success will be measured not by how much you accumulated for yourself but the number of lives you touched and ministered to.