Passive/Residual Income: Fact or Fiction?

Guess what day it is? It’s Financial Freedom Friday!

In last week’s video that answered the question, “What is financial freedom?” I promised you a video diving deeper into HOW to create financial freedom.

And that’s exactly what I made for you!

There are tons of people living lives of financial freedom all over the world. You’ll never hear about most of them because they’re rocking out living free in peace.

And they all know about something that people who trade hours for dollars don’t know about.

It’s called passive or residual income.

This is income that, once you put a system in place, comes in over and over again from the work you did one time.

Sound like a dream?

It’s not. This type of financial nourishment is available to you. And in today’s episode of Financial Freedom Friday I break down the 6 top ways to create passive or residual income.

If you want to create financial freedom, you have to know this stuff.

And, I’ve created a super special, content-rich download for you to go even deeper with the Financial Freedom Freeways after you watch the video – watch all the way to the end to find out how to get it.

Let’s dive in, shall we?

Share the freedom:

Did you know there are 6 simple ways to work smarter, not harder? @katenorthrup lays it down: http://bit.ly/15krUJt (Tweet it!)

Over to you:

Which one of these Financial Freedom Freeways speaks to you the most? What’s your first action step based on what you learned in the video?

 

33 comments

  • Jamie
    July 26, 2013 AT 2:38PM

    Great video! So professional AND sincere! Thank you for sharing!

    Reply
  • Michelle R.
    July 26, 2013 AT 2:41PM

    So cute – I adore the bloopers at the end! It was cool to have all six Financial Freedom Freeways presented together because, even though I am familiar with them all, I had never really thought of them all together as a group of ways to create residual income. My path forward feels like intellectual property and maybe affiliate marketing for now with a move into investing and traditional business a little further down the road. Thank you, Kate, for your light-hearted but solid advice!

    Reply
  • maryann
    July 26, 2013 AT 2:46PM

    I must admit i had a preconceived notion about what you were presenting yet after viewing the video, I learned and left with wanting to learn more. You break down the information so well it is easy to process Kate, can one make income via you tube? I look forward to more videos and your book thanks.

    Reply
    • Kate
      July 26, 2013 AT 2:47PM

      Hi Maryann – so glad this was helpful for you! Yes – you can make money via YouTube but you have to be getting TONS of views to make it a viable income. Instead, I recommend incorporating YouTube into your overall marketing strategy as a way to drive traffic to your website. My friend James Wedmore is an awesome teacher for this: http://www.jameswedmore.com.

      Reply
  • Carrie
    July 26, 2013 AT 3:08PM

    Thanks for this video, Kate!! I love your style and care-free, yet professional nature. Cannot wait to get my hands on your book! I’ve been passing along your videos to my girlfriends as well.

    I just started my own business with Arbonne. Glad to her you endorse network marketing! Any advice about getting started with a network marketing company that you wish you had known?

    Reply
    • Kate
      July 26, 2013 AT 3:39PM

      Carrie – so glad you like the video and congrats on starting your biz. Here’s my advice: keep it simple. I would say I’ve wasted the most time and energy over the years trying to reinvent the wheel. Just stick with the basics, rinse, and repeat!

      Reply
  • Charleene
    July 26, 2013 AT 3:29PM

    I’m in love with you earrings! And the financial freedom Friday videos are great, keep em coming!

    Reply
  • Ina Sahaja
    July 26, 2013 AT 3:33PM

    Thanks for the breakdown, Kate! Clear, concise, sweet and savvy… Grateful :)

    Reply
  • Nancy
    July 26, 2013 AT 3:46PM

    Kate,

    Thank you so much for creating this video! I’m at a weird crux in my life where I am trying to figure out what I want to do with my time and how I want to create income. You hit it on the nail when you said trading time for dollars can be a drain. I’m trained as a health coach, have recently left my day job, and I’m moving to Australia in 3 days (yay!-this is something I’ve been planning for awhile). Fortunately, I have the financial flexibility to take some time to evaluate what I really want to do, but the idea of doing one on one coaching is not making me jump up and down right now. Ideally, I want to have a life where I’m making income exceeding my expenses with minimal time spent and maximum enjoyment. I know I’m close to something but haven’t had a lightning bolt idea yet, but I know that there is something in health and nutrition or something or other that I know I will build on with the flexibility that I am craving.

    Reply
  • Maru
    July 26, 2013 AT 4:00PM

    Great job Kate! Can’t wait to meet you and do some intellectual property exchange with you in the future : ) Thank you for the help and for doing the Kristin Hassler interview, that’s where I learned about you. xoxo

    Reply
  • Simone
    July 26, 2013 AT 4:10PM

    Kate, this was your first video I have watched and you got me hooked. Very professional and yet so friendly, warm and genuine! Looking forward to watching more! Xo

    Reply
  • Caroline Frenette Intuitive Leadership Coach
    July 26, 2013 AT 5:50PM

    Excellent video Kate! You are really photogenic and super pro on camera!
    (Gorgeous hair, gorgeous make up + fab dress = love it.)

    Freakin’ fantastic tips and looking forward to the book!

    Reply
  • Ellen Greenlaw
    July 26, 2013 AT 5:59PM

    Good information Kate. I am dubious of all network marketing
    products. The reason is exactly as you said- the system costs
    a lot of money that does not go into the products quality.
    So I avoid network marketed items like the plague. That’s
    why I won’t buy the vitamins or products that are recommended on
    your site. I buy the ones produced locally here in Portland, Oregon and that are priced to reflect the value of the product,
    not the marketing system. An example of good company that makes
    good supplements (verified organic) is Pure Synergy. Please share others if you know them- they usually don’t advertise.
    Maintaining integrity is very important. You don’t seem to
    examine integrity very thoroughly. I’d suggest a whole
    video investigating what integrity and value are.

    Reply
  • Michelle McGrath
    July 26, 2013 AT 6:51PM

    Perfect timing for some great advice thank you! Just ordered your book and really looking forward to it. Keep up the fab work! x

    Reply
  • Terri Gregory
    July 26, 2013 AT 7:51PM

    Thank you! Thank you! Thank you! I first saw you when you presented in Portland OR with my dear friend, Tami Kent! You were very inspiring and now I know that you are smart as well (like mother, like daugher). My business is just now beginning to pay for itself after 6 years, I’ve just finished my first book and working on the second. Thank you for the solid advice and all the best to you!
    Terri

    Reply
  • Heidi
    July 27, 2013 AT 11:43AM

    Hi Kate,

    Great video, great information, great delivery!
    I am very interested in your book coming out. You see, I am a Life Coach and most of my clients are network marketers in a company called Arbonne. I am committed to seeing my clients grow a business that gets them out of working in dead end jobs and into a career they can benefit from financially as well as professionally. I think your book would be a great resource for my work with my clients. Is there any way to get an advanced copy so I can start referring my clients to it?
    I love the values you are modelling for women and the perspective you provide on money.
    You are doing great work!
    Looking forward to more next Friday!

    Reply
  • Nyk Danu
    July 27, 2013 AT 2:14PM

    Poifect timing M’lady! I am just working on a couple of virtual versions of successful live classes and programs for just this reason! So loving these tips thanks Kate.

    Reply
  • Timarie
    July 28, 2013 AT 12:02AM

    Hi Kate,
    I was introduced to you through the Daily Love Extravaganza and it was by no mistake! I’ve gathered so much inspiration from you just in the few “interactions” I’ve had. Thank you!

    I am having trouble picturing/imagining how it is that you, yourself, became financially free via Network Marketing by looking at your site. Are you still Network Marketing? I have a feeling my definition of Network Marketing may be too narrow, and that is why I can’t see it.

    If you have a moment to expand on that I would really appreciate it!

    Thank you!
    Timarie

    Reply
    • Kate
      July 28, 2013 AT 9:25AM

      So glad to have connected! Yes, I’m still very much involved in network marketing. All the details can be found at http://www.comebefree.com. And if you’re wanting to expand your vision of network marketing I recommend reading The business of the 21st century by Robert Kiyosaki. Thank!

      Reply
  • Katie Mae
    July 28, 2013 AT 2:47AM

    Hi Kate,

    I LOVE how clearly you laid out all these options!!! Really fantastic delivery and setup on this one. I’m working on videos and online courses to move me towards financial freedom. I think the other piece for me will be affiliate marketing – there are so many amazing people out there doing fabulous things to make the world a better place! I definitely want to help promote these peeps.

    Also love the plugin for not eating or supporting fast food ;)

    Katie

    Reply
  • Cheryl Massey
    July 30, 2013 AT 4:46PM

    Hi Kate

    Great video, thank-you! I love your energy and style.

    Cheryl

    Reply
  • Aarty
    August 16, 2013 AT 3:56PM

    I am unable to see this video.. Has it been taken off?

    Reply
  • DP
    August 26, 2013 AT 5:53AM

    Great videos! Keep them coming. :)

    Reply
  • James Maskell
    December 13, 2013 AT 11:46AM

    Hi Kate,

    Loved this video, shared it with my sales reps (who I get residuals from!)

    Since you brought up investing in fast foods AND Bill Gates, thought this might interest you.

    http://www.motherjones.com/environment/2013/12/gates-foundations-24-most-egregious-investments

    Love your work!

    Reply
  • Jen Mccaldon
    March 28, 2014 AT 10:30AM

    amazing! thanks for the advise I’ll keep on working with #1 and then move on to the next 2, although I started kind of back to front with network marketing to discover that going door to door wasn’t for me then affiliate marketing promoting something that never feel quite right but teach me tons and the best I could have ever done is work on my intellectual property. Thanks for all the tips Kate you rock :)

    Reply
    • Kate
      March 28, 2014 AT 11:18AM

      Glad this was helpful Jen! The only thing is – network marketing is NOT door to door sales. I’m not sure who trained you that it was but they were mis-informed. Don’t throw out the business model because of bad training. Thanks!

      Reply

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