The Residual Income Life Podcast

Listen here or in iTunes/Stitcher! You want to invest like a Hedge Fund Manager? Get strategies, techniques, and best practices in our interview with Hedge Manager Anthony Davian. We want to really extend our thanks to our friend Anthony  for spending some of his valuable time with us. We explore The Hedgies, the new home of The Davian Letter.  We will give you an excellent introduction to how you can have hedge fund trading strategies in your own portfolio. Coupon Code as Promised: podcast10 (10% off your order) Link to The Davian Letter Hedge Fund Product Link to The Gravity Penny Stock Product "We wanted to make a hedge type trading product for everyone" In this podcast you will learn: 1. What a new  strategies hedge fund managers are using to make there clients money. Anthony's background is in accounting and finance so naturally he has done an excellent job at using that knowledge to build a great hedge fund. You also learn what Anthony's biggest motivation was in joining The Hedgies network. 2. Anthony in a local guy from Ohio and has stayed in Ohio and out of the New York and Chicago Herd trading mentality. 3. The stock market does not have to be a dark scary place. You can get all the same information the "Big Guys" use when investing. Also, if you are not investing in the stock market you are missing out on residual income. 4. Learn how you can spend 5 minutes a week on your portfolio at ThinkorSwim.com and make 30%-40% per year. 5. Anthony speaks directly about penny stocks and  how they have been making so much money  he started a Hedge Fund that only shorts penny stocks.  I won't give it all away here, but his advice is certainly worth listening to. The stock market can generate wealth like no other business and penny stocks are one of the greatest tools you can use. There is so, so much more in this interview, so please have listen and let us know what you think. And once again, thanks Anthony! -Chris  

Before you even consider putting together an email marketing newsletter, you need to take three things to heart. 1. Respect your customers, their time, and their inbox. 2. Always deliver exactly what was promised. 3. Overcome skepticism with quality. 4. Encourage interaction with you. 5. Exhibit exclusivity, unique content and humility throughout the process. The construction of a successful newsletter has 6 phases. They are: 1. Content The newsletter you send stands or falls on the relevance and quality of the content you incorporate. If your website is meant to entertain you content needs to be entertaining. If it is meant to educate, your content better be educational. Tudog does not believe in using the newsletter for self-promotional purposes, as we think that readers rapidly grow tired of reading commercials and self-serving material. There are other forums to engage in self-promotion. Your newsletter is a service to your customers and needs to be written from the perspective of what they need, and not from the view of how it can serve you. By having your newsletter serve your customers, it will ultimately serve you too. 2. Frequency You need to decide how often you are going to issue your newsletter. There are two primary considerations that need to make up the decision. The first is how often your customer base would engage you newsletter. If your sector is flooded with newsletters, you may conclude that there is an excess of reading material and that a quarterly newsletter is appropriate. Conversely, you may notice that there is both an absence of other newsletters and a hunger for information, leading you to conclude that a bi-weekly newsletter would provide you with an excellent opportunity. The second consideration is your internal capacity. You do not want to create an expectation for a newsletter that exceeds your production capacity. How many newsletters you are able to release each month needs to be the underlying driver to the decision how often your newsletter is released. 3. Design How your newsletter looks is crucial not only because it represents your company, but also because it could determine how people receive the newsletter and whether or not they are drawn to read it. A well designed newsletter includes a clear delineation of all areas of content, integrated, relevant images, and an identity that is consistent with your company's identity. It is important that you view your newsletter as an extension of your company and that its personality is representative of the image you transmit to your sector. 4. Database Your database is the list of people to whom you send your newsletter. Your list should be extracted from your client/customer base, prospective clients/customers, and your sector influencers. You should make sure that everyone receiving your e-mail newsletter either requested it or has a way to be removed from your list (clearly and easily marked in your e-mail). Your newsletter can be sent via snail mail, but the costs of printing and postage make e-mail a much more realistic and cost effective often. Using e-mail, you are able to send your newsletter as HTML, text, or in PDF format. You should select your format based on customer preferences. Tudog uses PDF after our inquiries indicated that our clients were most interested in receiving our newsletter in that format. You clients/customers may prefer a different format, but it should be noted that the content, design, and frequency are not influenced by format. 5. Marketing Your newsletter needs marketing support so that it can reach out to a wider audience and better serve your company as a marketing tool. The support it receives can be as simple as being listed on your website (with a sign-up option) to advertising and special attention. Tudog markets its website by permitted reprints of our articles in magazines and other newsletters, drawing attention to the company, our expertise,

What is Affiliate Marketing? Affiliate marketing is the concept of selling another company's product on your online real estate. You are basically an online sales broker. For an example, if you have a website on cycling and give reviews on the kinds of bicycles that are out on the market, you could affiliate link to the bicycles on Amazon.com or wherever they are sold through an affiliate program. Every time a customer clicks through your assigned links to the bicycle that you reviewed you get a commission based on if those customers actually buy the bicycle. So you get credit for referring that customer to the product through your special link. Why is it so popular? Affiliate marketing is popular, because it is great from the product creator and seller prospective. From the product creator's point of view people are willing to do all of the marketing work for you and all you have to do is pay them a commission. Typically, those marketers will build sales website's or use a blog or some other online medium to market products. Thus, the product creator takes on no additional overhead costs. All the have to do is pay a commission when product is sold. However, from the marketers prospective they don't have to worry about creating product or spending all the time and money that takes to accomplish. A marketer simply sells and gets paid for sales.  When should you  start? Today! It is that easy to do. I'm not saying it will be a cake walk to make money, but I am saying affiliate marketing is one of the easiest forms of residual income to start. All you need is a medium ie a website and a product you use and believe to sell. What to Market? At Residual Income Life we strongly believe in only marketing products we have  personally used and believe.Things you use and believe in will be the easiest to sell, because you will know how they work and why they are worth buying. Also, most products have some sort of affiliate marketing program, so it should be easy to find a product you use and like to market. How often to promote? Don't be a sales ho. You can turn people off very quickly  in a blog setting if all you do is try to sell products. You need to build a relationship with your readers before they will be comfortable buying anything from you. However, if you are just making affiliate sales sites Go to Town make as many as you want for things you use. A sales page is going to be for the purpose of selling, so people know and are not turned off by that. The most effective sales pages help convince people to buy. For example, I am thinking about buying something, google reviews of it, find your website explaining how it works, the pros and cons, and why it is worth my money. Now I and convinced to buy and you get a commission. Next steps: Think about what products you use and would like to try selling.  How to start: (FYI Affiliate Marketing Below) 1. Buy a domain: At Residual Income Life we buy all of our domains through GoDaddy.com, because they are the cheapest and easiest to use. 2. Host your website: We use HostGator to host Residual Income Life and other sites, because they are the cheapest and allow you to host unlimited websites. 3. Build you site using Word Press and start making money. If you have any questions feel free to leave them below of send them to comments@residualincomelife.com -Chris    

Have you ever thought the stock market is a dark scary place or a form of gambling for rich people? If so, you are not alone, you also are not correct. The stock market is an unknown for most people and thus a scary place. However, today we hope to walk you through how the stock market can work for you at any income level. At Residual Income Life we understand the stock market can be one of our greatest resources to grow residual income. Hopefully by the end of this podcast you will not only understand the stock market better, but be able to make smart decisions with your money. First, we will discuss How Much Money You Need to Get Started. Surprising, you can start investing with less then  $100. We have broken investor down into four categories. $0-500, $500-2000, $2000-5000, and $10,000 and up. As you will hear there are very specific ways you are going to invest at each investment level. The key is just to get started. Second, we will talk about how to start investing at each level. We will walk you though tools and resources we personally use for our investing. For example, at the $0-500 level you should be investing in a 401K or IRA. I personally have both. My 401K is through Fidelity  and my IRA is through American Funds. We will discuss why getting a 401K through your employer might be the best decision you have ever made. Finally, we will talk about when is the best time to invest in the stock market. As Austin always says, "When is the best time to plant a tree? Twenty years ago. When is the second best time? Today." The best time for you to start investing in the stock market is today. If you have any questions or comments free to leave them below or send us an email.   -Chris

Writing a book is scary. We get that. But that doesn't change the fact that this the absolute best time in human history to write a book. We have a few reasons that cannot be ignored about publishing your own ebook, self published physical book or traditionally published book. 1. Make a lot of money.  Regardless of whether you take the traditional publishing route or choose to self-publish your own book - you can earn extra income, sometimes SUBSTANTIAL extra income by marketing your own books. 2. Gain More Followers.  If you operate your own business or rely on leads converting into sales for your living, then writing your own book can make a fantastic difference to your take home pay. 3. Broaden Your Brand.  As your market gets more cluttered, getting your message out becomes tougher and tougher.  Launching your own books, e-books, courses, or reports is a terrific way to build up your perception in the marketplace. 4. Make a Better Foundation For Your Other Products.  Everyone who operates their own business knows that marketing your own products gives you more control, more leverage and more profit in the end. Information-based products such as books, e-books, and reports set your foundation for a real, high-value business. 5. Free Awesome Publicity.  Some of the biggest names in the world understand the power that writing a book can give you in terms of publicity.  Books not only allow for reviews, exposure, opinions, interviews and other formal publicity, they also can be the launchpad for a social networking, word-of-mouth campaign that can truly become viral saving you hundreds of thousands on publicity. 6. High Profit to Effort Ratio.  In the case of self-publishing, publishing digital e-books, downloadable information products, 95% of the price is retained in profits which goes directly to you. 7. Generates Massive Buzz.  Its difficult to explain, but when you have your own book e-book, report or course available to the public - it can take on a life of its own attracting experts, partnerships, synergies, co-marketing offers beyond anything you may have considered. 8.Allows You To Express You. Writing a book is intense and reveals a lot about who you are. Thoughts, questions, or concerns? Let us know below! -Austin  

Want to be a great entrepreneur? We will discuss the three types of entrepreneurs and how learning from each of those types of entrepreneur can set you apart from the pack. Entrepreneurs are one the most interesting group in society, they are hardworking, self-motivated, determined, go getters that make things happen. The most interesting thing is how few of them there are. It begs the question why?     Today will look at the three types of entrepreneurs; Successful, Unsuccessful, and New. Our focus is looking at what got the first two types to where they are. Why was one person successful and another unsuccessful? As a new entrepreneur you have the ability to learn from all of the success and failures of those that have come be for you. Learning from others is one of the greatest ways to make sure your business starts and runs as well as possible. Here is a little bit about each type of entrepreneur: Successful: These guys are easy.  They know the game.  They understand why you build a business.  They do it over and over again because they love the challenge.  They are not in it for their egos, the idea, or the need to have President on their business card.  They do it because they can't do anything else, but build things and then sell it off.  They get it started, then hand it off to people to run it. Unsuccessful: Things just don't work out for the Unsuccessful Entrepreneur.  More often than not, they keep on trying, and get it a little more right next time.  Eventually, some become successful.  Often, they give up and return to the safety net of a 40 hour per week job.  Their idea, product, or service just does not solve anyoneís problem, but their own. New: I have a lot of respect for people that venture out into their own or try to turn an idea into action.  These are people that generally donít fit into the corporate structure, are generally liberal minded (not to confuse the Rush Limbaugh listeners of the world, liberal minded means finding new ways of doing things from how it is always done.  Or, it simply means outside the box thinking).  Having the audacity to question how things are being done and suggest there is a better way to do it.   Thanks for listening and feel free to rate the podcast in iTunes.   -Chris

In this podcast we discuss how to make your website the most effective it can be. Your website copy should be written for 3 types of website browsers. If you make these 4 small tweaks, you'll have your bases covered! 1. Number one reason your website isn't remarkable is that you can't create bite sized content. -Look at your website as a whole compared to a similar website you know that is popular. -Be sure to bold text on important words -Include text boxes with small bits of copy -Utilize photos with word captions -Give them bulleted lists -Use effective headlines (big and small) 2. The second reason you website isn't remarkable is that you aren't satisfying would be "super-fans". -Now that you've grabbed someone's attention with your headlines, then you want to deepen their interest with the small text. -Don't put very much detail on your home page. -Put the detailed information a level or two deep, in the places where someone is looking for specific information. -Remember, you want to break up the tiny text with lots of breaks for those page scanners. -Super fans WANT all of the little details that bore you just to write down. It's a good thing, it's a complement. 3. Your website isn't robot friendly. That's right, I said write for those computers ñ you know the ones that determine your search engine placement. One of the best ways to improve your search engine placement is to include lots of keywords in your writing. (Don't be obnoxious and type your keywords in a nonsense fashion. That can get you banned from search listings.) But, DO use your relevant keywords on every page, in the headlines and in the details. 4. The fourth reason that your website is not remarkable is because you content did not pass the "friend test". -Material should be interesting enough to hold a several minute conversation about the topic with a friend. -Hand in hand with that is that you have to be able to present the information in a way that interests and engages people.   As always we thank you for listening and appreciate your support. Please rate the podcast in iTunes and give us your feedback. Let us know if there is a topic you would like to hear about at comments@residualincomelife.com   -Chris

  In this podcast we discuss the ten reason people fail at internet marketing. Ninety-five percent of the people that start a internet marketing business will fail. However, that doesn't have to be you. There are very common mistakes most people make that lead to there failure. We have made most of these mistakes ourselves and have learned from them. We hope that you won't have to learn the hard way like we did. 1. Failure to Plan: People think they can start a website and just somehow make it happen. That is not true with internet marketing or and other business venture. You can have a lot of great goals, but if your don't have a plan of how to achieve them you never will. 2. Not Work on Your Internet Business Daily: If you owned a brick and mortar business you wouldn't only work on it once a week. You have to be dedicated to making your business successful, and it is not always easy. If you want to have a full-time income from internet marketing you have to understand handwork is required and be willing to do that hard work. 3. Making Goals to Big to Achieve: We have done this too, and we felt like we were failing, when really the goals we set were unrealistic. The key is to remember you can be very successful in internet marketing, but you need to have lofty, yet achievable goals. There are a lot of people that have made a great income from internet marketing and you are probably a lot like them. The main difference being they have put tons of handwork into there business to get it where it is today. Anything is possible if you are willing to work for it. 4.Lack of Knowledge: This doesn't mean you should wait to know everything about internet marketing, but you should know a decent amount. You wouldn't be a good golfer without clubs, so make sure you are learning about internet marketing and putting clubs in your bag. However, we don't want you to wait forever to get started. You don't need to have a PhD in internet marketing to be successful, but you do need to at least know the basics.   I don't want to give to much away, you will have to listen to the podcast for the other six reasons why people fail at internet marketing. You don't have to be a part of the majority that fils if you can learn from other peoples failures.. As always we thank you for listening and appreciate your support.   Please rate the podcast in iTunes and give us your feedback. Let us know if there is a topic you would like to hear about at comments@residualincomelife.com   -Chris  

In this podcast we discuss four low risk residual income ideas. Low risk doesn't mean low reward. All four ideas we present in this podcast can reap great benefits. By low risk we mean not a lot of money needed to get started i.e. not a lot of money can be lost. First, we will talk about ebooks. Ebooks can be one of the best ways to generate residual income. You need very little money to start, al you need is time and the will to get it done. You can write an ebook on almost anything, you can write about whatever your passion might be. A great plus to ebooks is the number of market places they can be sold. Amazon for example, there are people making five figures a month from ebooks. All you need to do is find your niche and write a good book. Second, we will talk about affiliate marketing, it is one of the most popular ways to grow residual income. You can create a product and pay affiliates to do the sales work for you or you can be the salesperson. Either way affiliate marketing works and can make you a solid income stream. You need to pick quality products you believe in and pick the right niche, but you can be successful with a little hard work. Again affiliate marketing requires very little up front cash investment. I don't want to give to much away, you will have to listen to the podcast for the rest of the residual income ideas. As always we thank you for listening and appreciate your support.   Please rate the podcast in iTunes and give us your feedback. Let us know if there is a topic you would like to hear about at comments@residualincomelife.com   -Chris

For those individuals wanting to increase residual income, Tim Ferris's book "The Four Hour Work Week" was a likely first read.The book opens e reader's eyes to how incredible one's residual income can actually be. While the book has much to offer, there is a lie within in which many readers choose to believe. Ferris provides advice and examples of how to make a business more efficient so one can start "living the life," and not just working through life. Like so many readers, this hit home with me. I so often feel like all I ever do is work. So many people are comfortable in their current careers, and therefore, are petrified to take a leap of faith to pursue their passions. I am one of these people. However, after reading Ferris's book, me and many others have been inspired to chase our dreams and start living our lives the way we had always hoped to. There is one very important aspect of the book that is often overlooked: none of the strategies will be applicable if the reader doesn't realize how hard Ferris has worked. His diligence and years of hard work to get his Brain Quicken product to make a sizable profit--$40,000--is what allows him to provide such excellent advice about residual income. Ferris was fully responsible for the development and production of the product, as well as all the accounting, marketing, and customer service. Like any good entrepreneur, Ferris spent countless hours building the Brain Quicken brand. This is a crucial part of the book as many readers expect only to work four hours a week as opposed to having to work insanely hard to get to that point I am by no means suggesting a 100-hour work week for years on end, but rather that getting to a four hour work week requires time and effort. The hardest part, starting a business from scratch, takes a lot of time and energy. If likened to a plane, getting that plane off the ground can take a long time and a lot of hard work, but once it is up, autopilot turns on and it's smooth sailing from there. Ferris's book will ultimately help in thin process by allowing one to create the most efficient business possible. My main point is this: nothing worth having comes without hard work. One can have the freedom of time and money such as Ferris does if willing to work for it. Overall, I love "The Four Hour Work Week," and suggest reading it, even if only to think I hope you all enjoyed the second podcast and if you would like to keep in touch sign up for our email list or email both Chris and I at commets@residualincomelife.com Thanks for listening and giving us a rating in iTunes if you have a moment! -Chris

Listen here or in iTunes/Stitcher! Ever wanted to know the ins and outs of  investing in a hedge fund? Get a successful hedge fund manager's story, techniques and best practices all in one interview. We want to really extend our thanks to our friend Anthony Davian for spending some of his valuable time with us. This interview is packed with information about hedge fund investing and this podcast gives an excellent introduction to how you can have hedge fund trading strategies in your own portfolio. Coupon Code as Promised: podcast512 (10% off your entire order) Link to The Davian Letter Hedge Fund Product Link to The Gravity Penny Stock Product "We wanted to make a hedge type trading product for everyone" In this podcast you will learn: 1. What a hedge fund is and how you most likely are invested in them indirectly. Anthony's background is in accounting and finance so naturally he has done an excellent job at using that knowledge to build a great hedge fund. You also learn what Anthony's biggest motivation was in developing hedge fund strategies for normal people in The Davian Letter. 2. Anthony in a local guy from Ohio and has stayed in Ohio and out of the New York and Chicago Herd trading mentality. 3. The stock market does not have to be a dark scary place. If you are not investing in the stock market you are missing out on huge amounts residual income. 4. Learn how you can spend 5 minutes a week on your portfolio at ThinkorSwim.com and make 30%-40% per year. 5. Anthony speaks directly about penny stocks and how they are huge money makers. I won't give it all away here, but his advice is certainly worth listening to. The stock market can generate wealth like no other business and penny stocks are one of the greatest tools you can use. There is so, so much more in this interview, so please have listen and let us know what you think. And once again, thanks Anthony! -Chris  

Listen here or in iTunes/Stitcher! Ever wanted to know the "nitty-gritty" of real estate investing? Get a successful real estate investor's story, techniques and best practices all in one interview. We want to really extend our thanks to our friend Tim Beck for spending some of his valuable time with us. This interview is packed with information about real estate investing and this podcast gives an excellent introduction to the basics of investing in rentals and in flipping houses. "If you buy a property right, you make money the day you buy." In this podcast you will learn: 1. About how a young investor got started in the real estate/rental business. Tim's background is in business and real estate so naturally he has done an excellent job at using that knowledge to build a great real estate business. You also learn what Tim's biggest motivation for moving into the real estate business. 2. A lot of what Tim did in his early days was "flipping" properties before it was cool or honestly even a term. Eventually he did start keeping houses and renting them, but flipping was part of his business too. 3. One of the biggest factors of success in the rental business is not you, but your tenants. How to filter and reduce risk with tenants is a very important part of land lording. Every time you have a tenant turnover (especially with evictions) there can be an immense cost built into that. So keeping good tenants and finding great people to live in your properties is extremely important. Tim gives some great tips on how to do this. 4. Learn what the most time consuming and difficult part of the rental business is. Well the short answer is vacant rentals. Vacant rentals cost you money in utilities, repairs, and fixing up for the next resident. Tim tells us how to minimize the time that is consumed and the money spent on a vacant rental. The longer a property sits empty, the less rent you get, the more utilities you pay and the more vulnerable your investment is. Don't miss this segment! 5. Tim speaks directly to people who are new at investing and thinking about investing in real estate. I won't give it all away here, but his advice is certainly worth listening to. The real estate business can generate wealth like no other business but you have to keep some things in mind before getting started. 6. Buy, buy, buy should not be your motto. Be careful and be educated when you go to make your first purchases. Remember that one of the first steps to getting involved in real estate is financing. How much should you put down? How to run the numbers to make sure it's a good decision? There is so, so much more in this interview, so please have listen and let us know what you think. And once again, thanks Tim! -Austin  

Some may find this episode to be a little more advanced then the last episode but some social media pros out there will not. Even though Twitter came to the scene as a social platform in 2006, people are still looking for tips, tricks and best practices when it comes to the platform. If this is you, then you are in the right place! 6. The Metrics of Twitter It's important to know when your audience is online, when they are using social media the most and how you can most effectively communicate with them. There are very unique tools available that give you this information and help you "get to the next level" with your Twitter account. Some of the features and tools that you can use with Twitter apply more to businesses and brands but some individuals will find value in them too. One of the tools mentioned here is www.tweriod.com 7. How To Best Interact With People Twitter is a special community that like most social media forms, has it's own etiquette and best practices. It's important to keep some of the things that we mention in the episode in mind when hopping on Twitter. 8. Another Time Management Tool For Twitter Here we mention a tool that may help you manage your time spent on Twitter (or should I say not on Twitter?) more effectively. Scheduling tweets is not for everyone, considering some people have scheduled content to promote and some do not. A tweet scheduler is particularly nice for people who want to push older "evergreen" content from the archives in ways that may be valuable to their followers today. bufferapp.com 9. How To Brainstorm What To Tweet In this one we give some suggestions on how to brainstorm what to tweet about the most effectively. Some of the things we discuss in the episode include. Your own content, other people's unique content, industry related quotations, asking lots of questions and several other strategies. 10. Using Twitter As A Search Engine. Twitter is indeed a search engine even if not in the traditional sense. The service handles about 1.5 BILLION search queries a day with people looking for other people, hot topics, related users, and valuable content. Learn how to get the most out of Twitter's search function. That's it! I think we are all Twittered out! If you would like to follow us, hit us up here: Residual Income Life Twitter

A collaboration of the best Twitter practices and strategies is a podcast that I have been wanting to hear for a while now. Every time I think "I wish some I could listen/read/watch a certain kind of content" I have been teaching myself that means we should be making that content ourselves. This list of Twitter practices is of course not exhaustive but it is certainly helpful when understanding some core concepts about the platform. Oh, and I never knew this about myself but apparently I really like the word "sphere"... a lot. So if you can count how many times I say it in this episode, you get a free internet high five. Leave it in the comments and if you get the number correctly, you can collect your internet high five here. :-D (Yes, it's on the honor system!) Here is the first 5 of 10 Dynamic Twitter Strategies covered in this Podcast: 1. How To Build Your Brand Using Twitter 2. How To Connect With Customers 3. How To Find People Interested In Your Topic 4. How to use Twitter to Create Sale Opportunities 5. How To Get The Right People To Follow You Talk to you soon! -Austin PS. Thanks again for listening! If you have a moment I would really appreciate it if you would leave a rating and a review in iTunes for our podcast. Your feedback helps us out a lot! Just click the blue button that says "View In iTunes" here. Thanks a million!

Did I mention that we love podcasting?? There is something really exciting about connecting with an audience in that way and we want to keep bringing you that content as soon as we can. In fact, we want the podcast to be a biweekly show released on Thursdays, but we were so pumped about the podcast we went ahead and released another one a week apart from the first one. Of course, at the risk of everyone getting tired of us really, really fast. Please note that from now on we will be sticking to the biweekly format unless there is just an irresistible demand to have the podcast be weekly. What is the Residual Income Formula? Is this one of those "make money with no work in three days" kind of thing? It certainly is not. Earning residual income is a process and it takes time to mature a residual income stream. We will be using the "Residual Income Formula" as a short cut to refer to when a person really takes that first step in beginning a residual income stream. Why start the Residual Income Formula? The only way that you can start to see full time results with a part time effort is if you begin the formula. Thinking about residual income or that if you just have a little more preparation you will be able to dive in is a myth.  There is no day like today to start. In fact if you don't start today, like me you will risk never starting. How can you start the Residual Income Formula? You definitely want to set apart some time in your day to focus on one residual income stream that interests you the most. That could be penny stocks, real estate, buying a website, affiliate marketing, and many other things. The point isn't that you pick the "right" one to start with but that you start with the right one for you. Every one has different time budgets and financial budgets. However even if your plan to get started is conservative with your time or finances then that is better then not having a plan at all. Identify the steps to implement your residual income stream that works best for you and set aside the time of day to make that a reality. We will talk about how to optimize and improve that source of residual income in a later episode. I hope you all enjoyed the second podcast and if you would like to keep in touch sign up for our email list or email both Chris and I at commets@residualincomelife.com Thanks for listening and giving us a rating in iTunes if you have a moment! -Austin