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This section details book summaries on residual income opportunities. Passive or residual income is income you generate today for something you did in the past. Common examples are dividends, rental income, royalty payments, interest and commissions from selling a reoccurring item like vitamins or subscriptions.
Why do people trade stocks? I suspect the main reason the average person trades is to make money although many people may trade for fun, thrills or social status.
There are other ways to make money other than trading stocks and these book summaries on residual income, may give you some ideas on how to diversify your income streams other than stock trading. Also, after you take money out of the stock market it may be a good idea to reinvest it somewhere else.
You can earn reoccurring residual income streams from anywhere in the world while you are doing what you enjoy such as relaxing at your cottage, traveling or playing golf. Reading these book summaries on residual income will give you a good start at changing the way you think about investing.
Robert G. Allen, Multiple Streams of Income
From the author of Nothing Down, Robert Allen identifies ten ways you can create residual income streams and ways in which you can invest to increase your financial health. He talks about how to identify opportunity to make money in real estate, business, investments, and marketing. This is a excellent book to get you up to speed on alternate investments.
The Rich Dad Poor Dad series of books are written by Robert T. Kiyosaki. In his first book Rich Dad Poor Dad he outlines his investment philosophies. Kiyosaki is a great believer in cash flow and passive or residual income. His later books, some of which are listed here, concentrate on specific areas. They make for great reading, are inspirational, and open your mind as to what is available to you and your potential. If you are interested, in reading Kiyosaki's books concentrating on improving your inner game then read other book summaries by following this link.
Robert T. Kiyosaki, The Cashflow Quadrant
In this book, Robert Kiyosaki discusses the four different sectors from which people generate income: employee, self-employed, business owner and investor. He identifies the problems with being an employee and self employed and shows that if you want to be wealthy, you need to be either an investor or business owner and create or generate passive income. This is a interesting book and true eye opener.
Robert T. Kiyosaki, Guide to Investing
Kiyosaki talks about the types of investors from beginner to business owners who sell the company to the public. Gives you a different insight into trading. This is not a book about stock trading. Rather it talks about the different ways people invest and the different levels of investing. It also discusses the types of vehicles which the rich invest in.
This e-book was originally written in 1910. Many of the ideas talked about in the books above can be found, to some degree, in The Science of Getting Rich. It states that everyone has the power to become wealthy provided they think and act in the correct way. You always hear, "The rich get richer while the poor get poorer". Well, there are basic reasons for this and some of them are covered in this book. The Science of Getting Rich is available for free at www.scienceofgettingrich.net
For most people, the only place they know where to put their money is in the stock market and real estate . Another way to obtain residual income is to set up an e-commerce shopping cart to sell something you have created. In this case, once the shopping cart is set up people can download you products at any time of the day or night and you will receive income from every sale. To get more ideas on how to start getting residual income check out the The eBook Directory.
Hopefully, by reading book summaries on residual income you have identified some books which may be worth reading. This new information should identify other areas where you can invest your trading profits.
Monte Carlo Simulator
for Traders Having troubles sticking with your trading system?
Do you move from system to system looking for the one system that will bring you riches?
Perhaps you already have it and tossed it aside when it went into a down period.
Using this Excel based program will show you what you can expect out of your trading system once you know the % wins and profit factor.
Stop wasting your time searching for the perfect system (which does not exist) and start trading.