Becoming Rich

bigadaj

bowlhead99 wrote: »

Maybe he would like a game of tic-tac-toe. There's only one way to win.

Noughts and crosses.

Pincher

http://www.imdb.com/title/tt0430308/

Rap music produces residuals.

Mr.Generous

Write some good books and self publish on Amazon, repeated royalties from sales and lending library. You just need to sell about 1500 books a month to get £500 because of Amazons "generous" fees*

I'm basing this on a selling price of 99p because as an unknown author your not going to sell many if you charge more than this.

example of a diy author's work here ...https://www.amazon.co.uk/Chris-Robb/e/B005XYAP3A/ref=dp_byline_cont_ebooks_1

Pincher

It's like a rubber tree, you keep bleeding it, forever.

https://www.fca.org.uk/consumers/trail-commission

Unfortunately, FCA seems to have put a stop to it.


https://www1.sjp.co.uk/join-us

St James Place? Walk into their office, and say, I have loads of friends in the music industry, I want 10% for the client money I bring in. Don't forget the RESIDUALS, aka trailing commission, aka recurring income, cause I no wot I is talkin about.

MyOnlyPost

% return is irrelevant if you don't have capital to invest. You already said you don't have capital to buy a house and implied you didn't have capital to buy enough bonds. P2P can pay 10% + but without capital so what?

If you wanna get stinking rich without working and you ain't got the capital to invest then you need to invent something that will sell by the shedload, an app maybe

jennyjj

soulman247 wrote: »

Residual income (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended

It's wrong to think of investment returns like interest or dividends as residual income, because your own capital is still having to be tied up, doing work.
A better example metaphorically would be if you spent a few weeks building a money printing press and training a monkey to crank the handle. After your initial effort in building and training, you could put your feet up completely or do something else while the monkey and press generated money.
A real world example would be the creation of a website that generated advertising revenue. You put in effort up front to create content. plonk some adsense on there and then just forget it. You get your residual revenue every month without further effort.
Another example would be if you joined a multi level marketing scheme, got a few fools below you to do the monkey work and drew residual income from their efforts while you sat on a beach.

So, maybe go off and rethink your question?

Apodemus

jennyjj wrote: »

So, maybe go off and rethink your question?

...and also ask yourself if anyone had discovered the magic formula and was already off on their tropical beach would they be likely to share their secret and risk you (and everyone else on the internet) muscling in on their action?

woodman2

Having read through this post I find myself getting more and more annoyed with the Mr soulman247.
I do own my own house and have built up a decent nest egg to see me through retirement.
I did it by working very hard over many years, which is how I suspect the vast majority of people in my position also did it.
It appears to me that Mr soulman247 just wants it easy.
Stop dreaming and knuckle under is my advise.

ColdIron

Wanting it easy and getting it easy are two very different things. I wouldn't get annoyed if I were you

Pincher

Sexual equality. Women have been doing it for centuries.
Marry Madonna.

I want to be adopted by Warren Buffett, and then persuade him to change his Will. Bill Gates is near my age, but I would be happy to him dad for $10billion.