Building Residual Income for Wealth

July 8th, 2007 | stacey | Financial Freedom, Financial Independence, Passive Income, Passive Income Online, Residual Income, Residual Income Online

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Building residual income has become the key to success for many people seeking financial freedom and success. According to the World Wealth Report released by Merrill Lynch, an increasing number of people are joining the millionaire club and the rich are getting richer every day. In 2006 alone, the club for people with really high net worth – folks worth at least 30 million bucks – grew by 11.3 percent.

The total wealth held by the really rich people totals $37.2 trillion, which is over 11.4 percent more than the survey conducted by Merrill Lynch the year before. Areas of the world that realized the largest number of new wealthy members were Singapore and India.

The Merrill Lynch report also revealed that the real GDP and stock market growth were the main drivers of the rapidly increasing asset growth experienced over the past year. Analysts from Merrill Lynch and Capgemini are further projecting that the wealth of the richest people in the world will increase by an annual rate of 6.8 percent over the next several years and is due to climb to $51.6 trillion by the year 2011.

Of course stock markets, stock brokers and money managers are all reaping the benefits of these wave of wealth. Andrew Corn, the founder and CEO of Clear Asset Management states, “The top 20 percent of high and ultra high net worth individuals in terms of asset and income globally account for much of the money invested in the capital markets. The participation of the capital markets creates more wealth in large part due to passive income, or as many wealthy people think of it, making money while they sleep.”

Acquiring passive income is the way a majority of millionaires accrue wealth without investing incredible amounts of time or money. By having real estate, stocks and online resources that earn money for them, people can enjoy living life while their enterprises continue building residual income.