Below is a story shared to me by my good friend and mentor Art Jonak. The story that follows is taken from Freedom Magazine pubilshed 2008 by Art Jonak & Vitamark Freedom Team and is Copyright (c) 2008 Art Jonak & Vitamark Freedom Team.
Enjoy…
“There are two types of income in the world,” shared a millionaire friend of mine, “but only one will give you freedom. Only one will let you own your life.”
My friend smiled, leaned over and whispered, “Let me share a story with you.” A few minutes later, I’d learned “The secret income of Multi Millionaires” and knew exactly what had to happen for me to “Own My Life.”
You might be thinking, what was the story? Well, here’s what he shared.
The first type of income is linear income,” he shared, “It’s when you trade time for money. If you are like most people, you have to work for a living. It you don’t work, you don’t get paid.
When a school bus driver drives a schol bus, he gets paid. When his shift is over at 5pm, he stops getting paid.
When a surgeon performs surgery, she gets paid. When her shift is over at 5pm, she stops getting paid.”
What he told me next really opened my eyes
“Even though the surgeon gets paid a lot more, ultimately both the school bus driver and the surgeon are in the exact same boat. They are both trading time for money.
That’s how linear income works. You receive income when you work. When you stop working, your income stops. Linear income continues only as long as you continue to work.”
The second type of income is a lot different. He called it royalty income. Some people know it as passive, recurring, residual income, or millionaire income.
Multi-Millionaires know the secret to creating true wealth is creating Royalty income. That’s when you do the work right one time and get paid over and over and over again for the work you did.
“Have you heard of Michael Jordan?” he asked?
“Of course!” I replied.
“Michael did the work right one time by winning six championships and inking a Nike conract. Today, Michael collects a ‘Royalty Check’ every month from Nike for all Air Jordan related sales. He never has to dunk another ball. Whether Michael’s flying in a private jet or playing a casual round of golf, he’s still making money! He makes money 24 hours a day, regardless of what he is doing. That’s Royalty Income.”
“Have you heard of Elvis Presley?”
“Sure!” I replied, “Who hasn’t!”
“Elvis did the work right one time by writing numerous hit albums. Today when his songs are played on the radio or get downloaded from iTunes, his daughter, Lisa Marie collects a ‘Royalty Check’ from the record company. She never has to write a hit album. While Lisa Marie shops in Beverly Hills or drinks a cool drink on South Beach, she’s still making money! That’s Royalty Income.”
“Are you familiar with Harry Potter?”
“Everybody’s heard of Harry Potter!” I exclaimed.
“Well, J.K. Rowling did the work right one time by writing the Harry Potter series, and today she collects a ‘Royalty Check’ from her publishing company every single month. She never has to write another book. Fact is, she even makes money while she sleeps. That’s Royalty Income.”
He then used me as an example.
“Imagine if you had a million dollars sitting in your savings account. And imagine you knew exactly how to invest the money without losing it all. You did the job right one time and today you’d collect a dividend check for $5,000 every month. Even after you quit your job, you’re still making money. That’s Royalty Income.”
I started getting really excited! I clearly saw why Royalty Income was “The Secret Income of Multi-Millionaires.” It was exactly the type of income I needed in my life.
If I had “Royalty Income”, I could wake up when I was done sleeping rather than to the buzz of an alarm clock. I could fire my boss. I could spend much more time with my children. I could do more charity work. I could travel without having to ask for time off at work. I could do what I wanted, when I wanted, with whom I wanted. I would own my life.
And just as I got excited, I got really depressed.
Royalty Income is great for the Jordans, Elvises and J.K. Rowlings of the world. But what about me? I can’t jump like Michael Jordan, shake my hips like Elvis Presley or write a best-seller like J.K. Rowling. And I sure didn’t have a few million dollars just sitting in my savings account.
All I had was linear income. And linear income wasn’t getting me any closer to “owning my life,” it was only getting me depressed, frustrated and angry.
And that’s when my friend turned to me and said, “There’s good news for people with little or no talent like you. There is hope.”
“There is another way to develop Royalty Income. There’s a way to get monthly checks for thousands of dollars so you can do the things you want in life, so you can achieve your dreams. And best of all, almost anyone can develop this Royalty Income.”
He proceeded to show me, step-by-step, how thousands of people have created Royalty Income ranging from a few hundred dollars a month to over $100,000 a month. And the best part, after seeing the steps, I knew I could be one of them. I was on my way to “owning my life!”
If YOU want to own YOUR life, a good place to start is by downloading the ebook SuccessIn10Steps from a link in the upper right hand corner marked “Free Gift For You”.
It will save you years of failure and frustration in your life and business.
~Olav/Blogmaster
