Residual Medical Income effortlessly drives masive
savings & retirement
Lets understand sources of income.
99% of current business people plan to retire off savings and or passive income, but for the majority is not enough.
Most business owners don't know they are leaving their largest source of current & retirement income on the table untouched. With a simple business move and they could easily duplicate their current income & continue receiving that same income for life. It does not require savings plans, passive investments or smarts. It just requires you start!
What’s Passive Income?
I’m sure most readers are familiar with the concept of passive income, but let’s take an in depth look anyway. Passive income can be somewhat amorphous. According to the IRS, passive income only comes from two sources: rental activity and business activities that you do not actively participate in. For us, anything other than income from your job(s) is passive income. I know that’s probably too inclusive, but that’s how I see it. So that’s the two extremes and your definition is probably somewhere in the middle.
What are some sources of passive income?
Rentals – Acquiring a property and renting it out is a great way to generate passive income. You get the monthly rent check and usually the property will appreciate over the long term. However, being a landlord can be stressful and take up a lot of your time. The best way to go is to use a property management company, but a good one can be difficult to find. Investing in rental properties can also require a lot of cash so it might not be possible for someone just starting out.
Dividend stocks – Many companies return a percentage of their profit to their investors. You can invest in these companies and enjoy regular dividend payments. Chevron, for example, will send you $4.28/year for every stock you own. People like our dividend stock portfolio because it doesn’t require a lot of maintenance. You still need to occasionally review to make sure the companies are doing well, but that doesn’t take a lot of time. Investors also need to be aware that the stock market is volatile. Stock price and the dividend can decrease during bad economic years creating allot of risk. If your planning to live longer, have a spouse and children dependent on returns, the risk increases.
Peer to peer lending – You can lend your money to borrowers through peer to peer lending companies like Prosper and Lending Club. The risk of default is pretty high, but the ROI is supposed to make up for that. My peer to peer lending portfolio is not doing that great. The ROI is about 7.8% and I’m not sure if it’s worth the level of risk. If the economy heads south, I’m sure the ROI would sink like a rock.
Business income – It’s hard to be completely passive as a business owner. If you don’t pay attention to your business, usually it will go downhill. You could have a passive online business or a franchise and professionals to run the whole thing. Supervision may only take a few hours of your time per month, but it takes plenty of money and smart management. In any event its called retirement, not find something more profitable to retire with. Right? There are better options
Royalties – You can earn royalties from a book, music, photography, art, and many other creative products. We know plenty about royalties, but I heard the income is pretty small unless your product is extremely popular.
Bonds –You can lend your money to the government or private companies by buying bonds. These institutions then pay you back the principle plus interest. Bonds are generally much more stable than stocks because a bond is a payment of debt. Usually, you will get your money back unless the company goes bankrupted. Bonds are pretty boring, but you need it to balance out your portfolio. When the stock market crashes, bonds usually do well.Why passive income is not working so far.
In a nut shell, most doctors resort to lowering their standard of living and working for life. In such case your
better option just arrived.
Residual Income - income generated by your current practice that not only doubles your current net income, but continues to pay out every month and every year for life after your practice retires. There is no better source of income, no simpler source and you have the industries BEST business by which to achieve it. Your consumable health market. Once you understand how reliable and easy it is, you will walk through brick walls to implement it. Give it a try.