If you want to retire comfortably, you obviously need money to fund your retirement. For most people, this means they expect to survive off the residual income from a pension scheme. This is money generated from a lifetime of work and investment to produce monthly income when you stop working.

There are several problems with this:

• You have to invest a significant chunk of your monthly salary in a pension scheme which stops you spending that money to enjoy your life now
• The residual income produced is low
• You have to wait until you are an old aged pensioner to receive the money
• You may be too sick to enjoy your remaining years after so much stress and hard work and you spend most of your time in care home or hospital paid for by the sale of your home

Another way to generate residual income is stock market investment. That requires large amounts of capital and skill to choose wise investments.

The best way in my opinion is to run your own business. Most of us are not like Richard Branson or Donald Trump so we haven’t got the natural talent for building hugely profitable businesses. But we do have the ability to work hard if we have a system to follow. Also, we don’t want significant financial risk and would rather start a business whilst still earning from our regular job.

Before I get into the ideal business model for the average person, let me just clarify why a business is the best way to generate residual income.

A business is an entity that exists to sell products or services to customers. It just sits there day and night doing it’s job. As the owner of the business, your job is to set up the business and manage it. You can also work in the business doing some of the tasks that could be delegated to employees. The size of your business depends on the numbers of sales and the revenue being produced.

There is no limit to the size of a business. An extreme example is Microsoft that is managed by Bill Gates and we all know how big his business is and it started a few years ago from inside a garage.

A business generates residual income i.e. as long as there are customers, they keep spending money and generating profits. The manager can go home or an vacation and the business continues to generate money. So you want to be a business owner rather than an employee. As an employee, you will be paid as little as the business owner can get away with and only for each hour you work (excepting bonuses etc.).

OK, so what is the ideal business for somebody that is working in a regular job?

Here are some characteristics that spring to mind:

• Low startup cost
• No storage space required for products
• No employees needed
• Free training and support to build your business
• Ability to work anytime anywhere
• In demand product in the early growth phase
• High residual income potential
• Free product advertising website

These are based on my desire to have a low cost and low risk business which stands a good chance of becoming profitable quickly and with the possibility of producing the desired high level of residual income for retirement purposes. But in this case I am thinking about early ability to retire i.e. still work (for fun) but have many vacations and not fear spending my abundant money.

Now, the solution for the above is Network Marketing. The way the low cost is achieved is by the process known as leverage. What this does is reward people that work hard networking the business i.e. introducing other people to the business opportunity and helping them build their business. This has a multiplying effect on the amount of income you can produce. It’s based on the old business maxim of it’s better to get 1% of 100 people’s efforts than 100% of your own. Because you can take time out and your business will still perform.

I have just scratched the surface here, but hopefully I got you thinking. But don’t just think, act! You can try out this kind of business now for free, join uVme in my team to get started.

p.s. don’t bother asking friends and family for their opinions on this unless they are actually good role models earning substantial residual income, otherwise what do they know?