After you have figured out how much money you need to retire, you are stuck with one major problem well two: How long will you need that money and where are you going to get that money! Well both have the same answer in a sense. You find residual income that is at the very least consistent, but possibly growing. Residual income by definition is recurring income that comes, usually without recurring efforts. For example… if you build a house and rent it out. The rent you receive is residual in that is comes in regularly and without extra effort beyond the initial construction. Once you pay your maintenance costs, then you have your residual profits. You will have that income as long as you keep the house and you can keep the house as long as it brings in a profit ideally as long as you live!
So besides real estate what kinds of investments bring residual income with minimal risk and fluctuation? Well if you have enough seed money, you buy dividend paying stocks or income trusts. You can easily research the dividend history of a company, look for ones that pay consistent dividends year after year. Banks and insurance companies are good for this. If in the last 20...
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