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If you were to look in a thesaurus, the synonyms for the word "virtual" are near, practical, effective, fundamental, essential and implicit.
So, when you hear the term "virtual millionaire" what do you think of?
What exactly is a virtual millionaire?
Is a virtual millionaire someone who is nearly a millionaire? Practically a millionaire? Effectively a millionaire? etc..etc..
Not exactly. Here's the definition of a virtual millionaire.
- "An individual that has ZERO debt AND a passive or near- passive income of at least $60,000 a year."
*Kelly L. Reese, ChFC
For example, if you had $1,000,000 in the bank earning 6% interest, you would have $60,000 of yearly income. This income is known as "PASSIVE" income. It is called passive because you weren't ACTIVE in the production of this income. In other words, you didn't WORK to get it. Yes, you worked to save the $1,000,000, but the income from the $1,000,000 keeps coming in without work.
The traditional way to accumulate wealth is to work hard, save money and accumulate assets for the future. The traditional way to do this was either in a "brick & mortar" business or by working for someone else. How many people do you know have been able to save $1,000,000 up to this point in their lives? How many people do you know can afford a "brick & mortar business?" I don't know too many, either.
But, the virtual millionaire way is to work to create residual (passive) income using the power of the Internet combined with the power of leverage. How many people do you know that have access to a computer and are tired of working for someone else? Probably many. I personally believe corporate loyalty to employees has been dead for a long time. The Enron disaster is a perfect example.
If you were completely debt-free and worked to create a consistent annual passive income of $60,000, it would be the equivalent of having $1,000,000 in the bank accumulating 6% interest. Have you seen money market or CD rates lately? They are not anywhere close to paying 6% Currently, they are more like 2 - 3% (if that!) But you do have opportunity to become a virtual millionaire with your own Internet home business to create a debt-free annual income of $60,000
It is much easier to create the INCOME of a millionaire than it is to accumulate the ASSETS of a millionaire. How do you do this? By building your network marketing business online while simultaneously working toward becoming debt-free. Your business is never closed, the Internet allows you to market yourself internationally. The power of this technology allows you to become an Internet Entrepreneur.
The Power of the Internet + Power Marketing = Power Income!
Is this an incredible concept or what!
You do not have to accumulate the assets of a millionaire in order to have the income of a millionaire!
AND..This is even more powerful when combined with the following.
When you are debt-free and consistently generating a consistent passive or near passive annual income of $60,000 from your InterNetwork Marketing business, you will then have the time and freedom to lead the lifestyle of your choice. Now, your goal may be more or may be less than $60,000
But, isn't what we all want is to be able to lead the lifestyle of our choice? To spend more time with our loved ones? To pursue activities and passions that we always wanted to do but never seemed to have enough time for?
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Patti Gale is a very successful Internet entrepreneur who is empowering people from around the world to build a successful InterNetwork Marketing business. She is leading them to create power income, great health and the lifestyle of their choice.
Her newsletter, "Power Income 101!" is THE e-zine to show you how to create real smart wealth. Subscribe at: PowerIncome@Infogeneratorpro.com
Visit her website: http://www.RealSmartWealth.com