| In a recent article (What is The Ultimate
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| | re-selling foreclosures and other
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| Lifestyle), I
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| | "distressed" propertiesBuying apartment
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| talked about the 8 core components that
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| | buildings or office buildingsBuying a
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| define "The
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| | building for your own business use (I
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| Ultimate Lifestyle."The first component
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| | plan to do
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| was income streams, and the reason it
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| | this in a few years)Buying houses,
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| was listed as #1 is because if you want
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| | renovating them, and reselling them (my
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| to live the ultimate
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| | stepmother does this with a good friend
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| lifestyle (as you define it), you must:-
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| | of mine in Los
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| Have total control over your time (i.e.
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| | Angeles and they're *very* successful at
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| you're your own
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| | it) Real Estate
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| boss, not an employee)- Have numerous
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| | does require that someone "shows up" to
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| income streams flowing, with as many of
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| | do various things,
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| them
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| | but you can set it up so you aren't that
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| as possible being "passive" or requiring
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| | "someone." That's
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| minimal time and
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| | my goal and plan with my wife.There are
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| effort from you. To truly live the
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| | many people out there who teach powerful
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| ultimate lifestyle, you
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| | systems
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| must have income that flows whether you
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| | for setting up passive income streams
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| "show up for work"
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| | with Real Estate.5. InvestmentsYou can
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| or not. These income streams are the
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| | setup passive or "low effort" income
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| "fuel" that drives The
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| | streams from
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| Ultimate Lifestyle.In this article, I'm
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| | having cash you invest in "vehicles"
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| going to discuss the "Top 10" income
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| | that generate
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| streams you can setup. There are
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| | dividends, interest, or other forms
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| actually many more than 10,
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| | income.You can also generate an income
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| but we don't have we room to discuss
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| | stream, although it's not
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| them all here.You may be in a position to
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| | completely passive (but might suit your
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| take advantage right now of many
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| | lifestyle
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| or all of the streams I discuss, or it
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| | preferences) by trading stocks, options,
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| may take some time
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| | or commodities.There's an art to
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| and effort to get one or more of them
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| | generating income from investments.You do
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| flowing. There's no
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| | not want to choose this option without
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| hurry. Creating the ultimate lifestyle
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| | exercising
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| takes vision, time,
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| | great caution and/or finding an advisor
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| planning and effort.All the streams I
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| | or partner that can
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| discuss may not interest you or match
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| | do it for you.6. Life InsuranceThis is a
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| your
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| | longer term strategy and one designed
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| preferred lifestyle, and it isn't
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| | more for
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| necessary to have all of
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| | your retirement years, but there are
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| them flowing at once (or at all) to live
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| | forms of life insurance
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| your own ultimate
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| | that allow you to fund the policy in
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| lifestyle. I'm just giving you food for
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| | earlier years and then
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| thought.Here are the "Top 10" best ways
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| | receive guaranteed income in later
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| I've found to generate the
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| | years. I'm putting a
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| streams of income required to truly live
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| | program like this in place as we
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| your ultimate
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| | speak.7. Sale/Payout Of A BusinessIf you
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| lifestyle:1. Start/Run Your Own
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| | have your own business, you can sell it
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| BusinessWe're living at a fantastic time
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| | one day
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| in history if your goal is
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| | (maybe even soon) and use the cash you
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| to start your own business and create
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| | receive to fund your
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| passive or "low
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| | ultimate lifestyle -- and/or to pursue
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| effort" income streams from it selling
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| | the other passive
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| products or services.With the many
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| | income streams discussed here.My father
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| benefits of the Internet, the power of
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| | did this. He bought a small chain of
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| direct
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| | travel
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| marketing (online and offline), and the
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| | agencies, built it up, then sold it. He
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| large number of top-
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| | got cash at the time
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| notch contractors and third party
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| | of sale, but also had an "earn out" that
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| companies you can offload
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| | sent a strong
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| the day-to-day "grunt work" to, today's
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| | income stream to him for 15 years. My
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| entrepreneurial
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| | friend randy did the
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| environment a dream come true if you
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| | same thing when he sold his business.8.
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| know how to set things
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| | Network MarketingNetwork Marketing (or
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| up to take maximum advantage of the many
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| | "MLM") gets a bad rap from many people
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| tools and resources
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| | and in many circles, yet it's one of the
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| available.In addition, it has never been
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| | best ways to create
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| easier to set up a strong
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| | passive, or reasonably passive income
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| flow of income doing something you love
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| | streams, if you pick
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| or you're really
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| | the right company and work the system
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| passionate about - no matter what it is
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| | correctly.9. Other PartnershipsIn
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| or how "obscure" it
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| | addition to the options listed above,
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| may be. Again, the Internet and direct
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| | there are a variety
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| marketing create
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| | of other partnerships and relationships
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| unprecedented levels of
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| | you can create where
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| opportunity.Finally, there are numerous
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| | you help other people to achieve their
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| tax advantages to having your
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| | goals, get something
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| own business which enable you to put
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| | they really want, or give them something
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| much more money in your
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| | to sell, and they
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| own pocket -- if you know how to set
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| | compensate you for it.10. Information
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| things up and take
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| | ProductsThis is a subset of having your
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| maximum advantage of the many tools and
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| | own business, but I'm
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| systems available.If you want to live
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| | breaking it out separately because it's
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| your ultimate lifestyle, your own
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| | an ultimate
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| business will be at the core of it. It's
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| | lifestyle creation tool you should
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| my #1 choice for
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| | consider even if you
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| creating the ultimate lifestyle.2.
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| | already have your own business right
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| RoyaltiesIf you have a specific area of
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| | now.When I say "information products," I
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| expertise and you know how to
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| | mean books, tapes,
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| turn it into a book, audio, video or
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| | courses, seminars, coaching programs,
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| multi-media course, you
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| | etc.There are many people who already
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| can get other people to manufacture it,
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| | have a business doing
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| sell it, manage all
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| | something (like being a doctor, dentist,
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| the details, and send you a royalty
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| | real estate
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| check for a percentage
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| | broker), and through having that
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| of the sales. This is a great stream of
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| | business, they've developed
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| passive income and
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| | a strong expertise that can help other
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| one I'm currently pursuing
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| | people in the same
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| aggressively.You can also generate
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| | business enhance their success.For
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| passive royalty income from inventions
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| | example, I know one dentist who's so
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| or other marketable ideas of various
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| | skilled at a
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| kinds.You make less money "per piece"
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| | particular kind of reconstructive
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| when you go this route, but
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| | dentistry, that other
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| the fact that you don't have daily
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| | dentists flock to him and he's created
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| responsibility for
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| | additional income
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| managing the production, sales,
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| | streams from sharing his expertise
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| accounting and other details
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| | through a newsletter,
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| has a lot of value, and if you set it up
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| | seminars and "look over my shoulder"
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| right, the products
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| | events. He generates $1
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| that generate royalties for you also
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| | million a year from his information
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| cause people to come
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| | products business and
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| back into your orbit to buy and do other
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| | could stop practicing dentistry at any
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| things that end up
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| | time if he wanted to.I know of another
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| benefiting you in many other ways in the
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| | man who's in the lumber business who
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| long run.Do you feel this is a good idea
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| | developed a revolutionary process for
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| but you don't think you have
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| | drying lumber faster.
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| the expertise that could translate into
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| | He started teaching that process to
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| a royalty stream?
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| | other people in the
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| That *might* be true, but I can almost
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| | lumber business through just 2-3 weekend
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| guarantee that you
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| | seminars a year and
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| have expertise you don't know you have,
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| | created a $250,000 a year income stream
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| you could easily
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| | from it.I know of a very successful real
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| create it by following a passion and/or
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| | estate broker who created a
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| create a potential
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| | variety of information products
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| royalty stream from knowledge you have
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| | (courses, seminars, and
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| or could get if you
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| | coaching) to teach other real estate
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| got some the right kind help.3.
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| | brokers how to use his
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| Licensing FeesThis income stream is
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| | system to make a lot more money with a
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| similar to the royalty stream, but has
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| | lot less effort.
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| many notable differences. Licensing
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| | While he's still working as a real
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| involves charging a fee
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| | estate broker every day,
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| to allow others to sell products you
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| | his information products business
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| create (books, tapes,
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| | generates a huge income
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| videos, etc.), or to use your likeness,
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| | stream for him and he could also stop
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| logo or other very
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| | working as a broker at
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| visible aspect of your work, business or
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| | any time if he wanted to.I know of a
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| "brand."Licensing can also take the form
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| | very successful carpet cleaner who is now
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| of allowing others to
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| | living
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| present a seminar, workshop or talk
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| | his ultimate lifestyle teaching other
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| you've designed that
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| | carpet cleaners how to
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| provides many benefits to the audiences
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| | increase their sales and profits using
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| receiving them. I
| |
| | his unique approach.I also know a very
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| have two friends, Charles and Will,
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| | successful orthopedic surgeon and
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| who've licensed the
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| | mortgage broker who want to stop working
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| rights to one, two and three day
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| | so hard in their
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| seminars with their
| |
| | chosen field and are currently seeking
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| material, and they receive HUGE checks
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| | ways to create
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| every month.Will actually has 5000 people
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| | information products businesses to
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| licensed to present his one
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| | replace their current
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| day seminar, and tens of thousands of
| |
| | incomes while making dramatic shifts in
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| people are getting the
| |
| | their lifestyles.Do you have your own
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| benefit of his work, and he's getting
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| | business and have developed a unique
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| big checks without
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| | expertise or approach that could be
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| lifting a finger.There are other forms
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| | converted into an
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| of licensing, however, that don't
| |
| | information products business?The Next
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| require expertise on your part, just
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| | Steps ...Depending on where you are right
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| visibility and a
| |
| | now in your career, you may
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| "brand."One example includes Disney who
| |
| | be thinking to yourself, "This all
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| licenses their logo, the
| |
| | sounds great, but I have
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| likenesses of Disney characters, etc.
| |
| | absolutely no idea what income streams I
|
| Another example
| |
| | might be able to
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| includes Harry Potter merchandise.
| |
| | setup or how to do it."If that thought
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| Another example includes
| |
| | (or one like it) crossed your mind, stay
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| the use of the Coke or Pepsi logo.While
| |
| | tuned. I'll be discussing some "what to
|
| it's true that these examples center
| |
| | do" and "how to do
|
| around huge
| |
| | it" ideas in future
|
| companies, there are a variety of
| |
| | articles.================================
|
| licensing opportunities
| |
| | ============================ Like to know
|
| for "little guys" like you and me if you
| |
| | more about Bob Scheinfeld?
|
| get creative and
| |
| |
|
| set it up right.4. Real EstateI've only
| |
| | =========================================
|
| dabbled in real estate over the years,
| |
| | ===================If you liked what you
|
| but I'm
| |
| | just read, you'll definitely want all
|
| gearing up with my wife to get very
| |
| | the details about Bob's "7 Power Centers
|
| involved with Real
| |
| | of Life" work.Do you know what "The 7
|
| Estate in 2004 and beyond.Passive income
| |
| | Power Centers of Life" are? Are you
|
| streams can flow out of Real Estate in
| |
| | absolutely certain that all 7 of *yours*
|
| many
| |
| | are fully energized
|
| ways, including:Buying and then
| |
| | and aligned for maximum success?
|
