Today, I’d like to share some popular residual income quotes I found online. Before I share these quotes with you, I would like to take a moment or two and educate you about residual income.
Residual income is money that comes in month-after-month, for something you previously did. Examples of residual income include insurance premiums, investment dividends, military and government pensions, rental payments from real estate, book royalties, network marketing commissions, etc.
Most people do not have residual income. Instead, they trade hours for dollars. This is known as the trading time for money trap and it’s the number one reason most people have to work hard their entire life. On the other hand, residual income gives you the opportunity to take back your life and live life on your terms. You have residual bills. That’s why you need residual income.
Top 17 Residual Income Quotes
I scoured the internet searching at least 25-30 different websites to find these residual income quotes. I also scanned through hundreds of memes and images. I hope you enjoy these residual income quotes as much as I do. After each quote, I will also share my own two cents about it. Keep in mind, they are listed in no particular order.
# 1: If you do not find a way to make money while you sleep, you will work until you die. ~ Warren Buffet
Most people spend their entire lives trading hours for dollars, and end up broke, because they never took the time to learn how to invest, build businesses, and create residual income.
# 2: You become financially free when your passive income exceeds your expenses. ~ T. Harv Eker
Let’s suppose your monthly expenses are $3,000. Once you have $3,000 per month in passive income, you are financially free. The fastest way to become financially free is to get out of debt, keep your budget and expenses minimal, and live off a residual income, even a modest one.
# 3: The greater the passive income you can build, the freer you will become. ~ Todd M. Fleming
As your passive income grows, and your debts stay low (or are eliminated) you have more and more freedom. The goal with your passive income is to get out of debt and stay out of debt and reinvest your passive income so it continues to grow.
# 4: Residual income is passive income that comes in every month whether you show up or not. It’s when you no longer get paid on your personal efforts alone, but you get paid on the efforts of hundreds or even thousands of others and on the efforts of your money! It’s one of the keys to financial freedom and time freedom. ~ Steve Fisher
I chose network marketing because I wanted the leveraged, residual income that it offers. If you can build up a big team, you can build up a large, stable, long-term residual income. There are many people in our industry who have received large five figure monthly residual checks from the same network marketing company for 20, 30 even 40 or more years.
# 5: I’d rather have 1% of the effort of 100 men than 100% of my own effort.” ~J. Paul Getty
If your income depends solely on you, you will either max out or burn out. If you get hurt, fired, sick, or take time off, you lose your income. On the other hand, when your income is dictated by what 100 other people do, you have a very secure income.
# 6: If you understood residual income you would walk through a brick wall to get it. ~ Art Jonak
Most people have been taught to trade hours for dollars. It’s all they know how to do. However, once you learn about residual income, you have an obligation to pursue it.
# 7: I have a problem with too much money. I can’t reinvest it fast enough, and because I reinvest it, more money comes in. Yes, the rich do get richer. ~ Robert Kiyosaki
The rich live off investment income and residual income. They focus on growing assets (investments and businesses) that increase in value and pay dividends.
# 8: The key to financial freedom and great wealth is a person’s ability or skill to convert earned income into passive income and/or portfolio income. ~ Robert Kiyosaki
There’s nothing wrong with having a job. As you earn money, invest a portion of your earnings each payday. Pay yourself first and buy assets that appreciate and pay residual income. This is how you can earn your freedom from your job.
# 9: The best way to create passive income is to buy real estate once and get paid for it forever. ~ Mike Wolf
Real estate has proven to be a very secure long-term strategy to create wealth. While the stock market is very volatile, the real estate market is normally much more stable and predictable.
# 10: I personally feel that the # 1 benefit of having my expenses covered by passive income is that I get to keep doing more of the kind of work I enjoy. ~ Steve Pavlina
When you have enough residual income to be financially free, you can do whatever you want to do. You can pursue your passions and live each day on your terms.
# 11: I’d rather spend 3 to 5 years building a passive income stream than working in a job that I hate for 40 years. ~ Investandup.com
Taking a few years to create a business that can provide you residual income is a great deal. Yes, it’s a lot of hard work. Sometimes three to five years feels like forever; however, time does go by quickly. At the end of the day, you’ll be glad you built up a residual income.
# 12: If an opportunity doesn’t knock, build a door. ~ Milton Berle
If you can’t find an opportunity, create one. Most of us are exposed to new opportunities all the time. It’s our job to be open minded and recognize an opportunity when we find it.
# 13: Don’t be addicted to money. Work to learn. Don’t work for money. Work for knowledge. ~ Robert Kiyosaki
If you must work in a regular job, pick a job based off what skills you will learn in that job, not the salary it pays. Even if the job pays a small salary, it can still be greatly beneficial if it teaches you skills that can help you become financially independent.
# 14: Ninety percent of all millionaires do so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner invests his money in real estate. ~ Andrew Carnegie
I agree. Most of the people I’ve met who are rich and have a solid residual income did it through real estate.
# 15: If you don’t have any residual income or passive income, or at least a plan for residual income, you’re living a very risky life. There is no security in a job, even a high paying one. Be smart and don’t rely on just one source of income. ~ Ray Higdon
Everyone needs passive income. You have residual bills, so why not have residual income?
# 16: The average millionaire has seven streams of income. ~ Warren Buffet
The rich buy assets and businesses and reinvest their profits to create additional income streams. Even an ordinary, average person needs multiple streams of income.
# 17: He who makes $25,000 annually through passive income is more enviable than he who earns $100,000 annually through a salary. ~ Mokokoma Mokhonoana
Earning even $2,000 per month in passive income is a great deal, especially if you reinvest it and grow it. Or you can use it to get out of debt, keep your expenses low, and live a great life. You choose!
I hope you have enjoyed these residual income quotes. Which quote one on my list of top residual income quotes is your favorite and why? Leave a comment below to share your thoughts. I look forward to hearing from you.
Also, do you have residual income? If so, what did you do to create it?