Writing - A Residual Income Business

July 27th, 2007 | stacey | Residual Income, Residual Income Online, Residual Income Opportunity

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A common residual income business is writing. Writers often spend weeks, months or even years writing a great novel, screenplay or resource that will earn residual income for years to come. This residual home based business can be challenging and requires self-motivation, but the rewards can be great.

Writers have come to depend on creating residual income opportunities to attain a necessary level of financial freedom. Currently, the Writers Guild (WGA), an association of screen and television writers is battling over important financial issues such as residual income earnings.

The current deal on the table dies on October 31, causing the members of WGA to stand up for their financial rights. The guild negotiating committee chief, John Bowman, sates, “Our guild has not had to battle for issues this important for a long time and management might hope we’ve lost the collective will to demand what we deserve. They are wrong.”

Companies would prefer that the current residuals system be stopped in favor of a recoupment based system. Bowman goes on to say that, “The future of residual income and the jurisdiction of our union are at stake here. These issues are work fighting for. Given that residual income can amount to between 20% to 50% of a writer’s income, we clearly can’t allow management to unilaterally dictate this most essential contract term.”

The members of WGA are fighting big companies to keep residuals, the basis of a writer’s income.

Residual income is an ideal way to generate money without doing additional work. However, even residual income opportunities need to be set up and require ongoing maintenance, as evidenced by WGA’s current struggles.