Linear Income - A Straight Line to Staying Broke!

I'm pleased to have as a guest blogger today Success Coach - Celest Turner. A dynamic individual, Celest believes in helping others pull multiple streams of income from the talents they have inside. Enjoy the article and be sure to visit Celest's website. 

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Over the years, I have met some amazingly talented people who were unemployed, under employed and some with enviable salaries. All of them had multiple talents and skills that they, at some point in their lives, packaged up daily and delivered to a job for a biweekly pay check (minus taxes of course).

For most people, a consistent pay check is good and fair trade for hours of work.  This form of payment is called linear income. The problem with linear or earned income is that your pay is always dependent on giving your time away. If you can't deliver the hours or if you are no longer needed then you no longer get paid.  

We are all worth more than trading hours of our lives for money. While linear income is a good baseline, there are other streams of income that are smarter and will give you more freedom. 

Passive Income

Passive income has two components: it is regular and requires very little of your time to maintain.  Examples are rent from properties,  interest from investments or earnings from Google Ads and other website advertising. 

Leveraged Income

Leveraged income is what your employers get every day.  They use the efforts of all their employees to make them money.  You can do the same thing by leveraging joint ventures, affiliate marketing and partnerships. 

Residual Income

Residual income happens when you do something once and get paid over and over again.  The most common example is a syndicated television show where the actors get paid repeatedly for reruns. 

How would your life change if you used your talents and skills to add passive, leveraged or residual income to your current linear pay check? 

Celest Turner is an expert who facilitates success and helps propel businesses and people to new heights. She has perfected strategies in her 15-year career that have developed leaders, enhanced careers, increased revenue for companies, and built brands. Learn more about Celest at  http://www.newsuccesscoach.com/