Residual IncomeWritten by Peter Owen
Hi, Peter Owen, Director and founder of Tall Oak Limited. We have produced this article to give you a quick insight into how to receive a second income or replace your present income. The key to securing your future and reaching your goals is called a residual income. Residual income flows into your bank account day after day, year after year for work you did 6 months ago. Sounds Good! Great then lets look how you gain a residual income. The way I approach it is by talking about Network Marketing, I know what you are thinking 'that's pyramid selling isn't it? ‘No! Network Marketing is used by several large companies creating a different way for companies to sell there products and services. Network Marketing works by distributors or members, telling people about product or service rather than using high cost advertisements. . Let’s look at an example: I start a restaurant and decide to use network marketing to gain customers, every time someone comes in I give them a card offering them 5% of total spend by each person they recommend to my restaurant. One person (lets call him Fred) goes away and tells ten people about my restaurant, those ten people spend £500 (about £50 per head) which means at end of week Fred receives a cheque for £25 just for telling people about my restaurant. Sounds good doesn't it? That is simply how network marketing works, Different companies have different ways of working out how much you get paid but principle is same. The more people you tell more you can earn. So why do you need a second income? Have you seen reports about having to work till your 70; I don't want to work till I’m 60, let a loan 70. Is your retirement fund big enough for you to continue to live life style you want? Most people think that when they retire there mortgage will have gone, debts will have been paid off, and so they can afford to take a cut in there income WHY? Why work hard for 45 years then take a pay cut The way I see it if I worked 45 years of my life I should be able to enjoy my retirement not reduce my life style or leave it as it is, my life should get better. How many hours a week do you spend with your family and I don't mean sleeping in front of TV. Would you like more time with your family and go on more holidays? How about your debt and mortgage do you struggle from month to month and worry about if you can pay bills each time, wouldn't you like to get rid of your debts and mortgage and I don't mean by going to a loans company and consolidating, that just lengthens time till there gone. If any of above sound familiar then a residual income is answer.
| | Legislators Ponder New Credit Protection LawsWritten by James H. Dimmitt
Legislators in Washington, D.C. are considering several credit-related consumer protections as outlined in The Fair and Accurate Credit Transaction Act of 2003 (H.R. 2622). If approved, consumers could benefit from most wide-ranging changes to rules covering consumers and credit in decades.One of most important changes would be right to receive a free annual copy of your credit report, upon request, from three major credit reporting agencies: Equifax, TransUnion and Experian. Currently only six U.S. states offer their residents this form of consumer protection. Federal law requires that a consumer may obtain a free copy of their credit report only if they have been denied a loan or credit based upon information contained in their credit reports. Other highlights of The Fair and Accurate Credit Transaction Act of 2003 include: ~ special notifications whenever excessive inquiries (credit checks by potential lenders and creditors) are lowering your credit scores significantly; ~ notification by creditors whenever they are sending derogatory account information to any of national credit reporting agencies; ~ blocking negative credit information caused by an identity thief from reappearing on credit reports; ~ mandating creditors to establish guidelines to prevent them from issuing credit deemed likely to be fraudulent; ~ disclosure of credit scores used in connection with loan application decisions and an explanation of key factors that were used to determine that score; ~ requiring disclosure of name, address, and telephone number of businesses that supply information to credit bureaus.
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