Earn More with Little Effort

Read More

RestingEarn More with Little Effort

It’s everybody’s dream to be able to maintain or increase their income and to work less, but it’s something that few people achieve. If you’ve grown up with the idea that the only way to get more money is to work more, it takes a significant shift in thinking to believe that the opposite can be true. To earn more and work less you need to change your mindset and think outside the square.

If you own a business, you may be able to create passive income with little effort. There are two types of passive income – residual income and leveraged income. Residual income is recurring income that results from work that you have done at an earlier point in time, for example:

  • A consultant who develops a consulting template or workbook and sells it to many different clients
  • A photographer who gets paid a royalty for the use of her photos in a photo library
  • A website owner who sells advertising space on a website

Leveraged income results from using other people’s resources to produce income, for example:

  • Selling your products for a commission through a distribution channel
  • Franchising or licensing your business
  • Hiring subcontractors and taking a profit margin on the work they do

If you are an employee the concept of earning more with little or no extra effort still applies. Start by researching the job market. Are you being paid what you are worth? If not, ask for an increase or find another job. Putting a little effort into additional training can open up new and lasting opportunities to earn more. Perhaps you have a hobby that can be turned into a part time business run from home. Earning more with little effort is all about working smarter, not harder.

Related Articles

Liz Koh

Budget Winners and Losers

The latest Government budget had something for everyone but while most households will be a few dollars a week better off, there are some clear winners and losers. In the winners’ corner are businesses, those on high incomes, and savers. The biggest losers are property investors who have built large portfolios financed partly by tax rebates.

Read More »

Top Up or Miss Out

The end of June is an important date for KiwiSaver members. The financial year for KiwiSaver runs from 1 July 2009 to 30 June 2010 and if you have contributed at least $1,040 to KiwiSaver during that time, you will be eligible for the full amount of Government tax credit to be paid into your KiwiSaver account in July.

Read More »

Responsible Investing

There is a worldwide trend for investors to want to make a positive contribution to the world by investing in companies that are socially and environmentally responsible. If you are passionate about the effects of climate change, the scarcity of food and water, and social or environmental policies in general, then you will no doubt wish to ensure that the companies in which you invest are going about their business in a manner that is consistent with your views.

Read More »

Helping You Live your retirement To the Max

Keep in touch

Fill in your details and we’ll get back to you in no time.