What are the money making secrets that could make you very wealthy one day, without any risk at all? The secret is that residual income is the best way to generate a staggering amount of wealth. Creating passive revenue streams will make you very wealthy.

Why is passive or residual income the way to go for wealth generation? As you know from your investments, you only do the work once, then your money works for you from then on to generate interest, which is a form of passive income. Over time, your ability to generate passive income through your investments raises steadily throughout your work life as  your nest egg grows. Once you can live off the interest your investments make, you are financially independent and could quit your job if you chose to. Generation of passive income allows you to earn many times more than your actual salary in the course of a year, and with increased earnings comes the ability to save at a much more rapid rate.

Investments take money to get started, but there are ways to make money online for absolutely not a cent upfront.  A free residual income business is the best way to start out without any money down. If you are thinking that it is difficult to get started, it is not. All you need to do to make money is to start creating content (writing, taking digital photos or creating videos are all good options), place your content on a revenue sharing site for free, and promote your content. No rocket science, just a lot of staying the course, working everyday and knowing that the income will grow every month. Don’t miss out on one of the greatest money making opportunities ever, the Internet makes true residual income generation possible.

Education is one of the best investments you can make. If you have not finished your degree, you should seriously consider it. A good friend of mine has started her education recently with one of the Online Degree Programs at a local community college. She is a single mother working a full time job and she finished her first semester with a 4.0 GPA. It can be done. And it really should be. Below are some possible benefits:

• Personal Pride. You will get a since of self pride from accomplishing something significant. From setting a big goal and seeing it through.
• Better Pay. Starting salaries for employees with a degree are much more and potential earning power is great that without one. And you won’t even get a foot in the door with many places without a degree.
• Job Advancement. You will stand a better chance of moving up the corporate ladder with a degree. Also, employers love to see an employee taking the initiative to improve themselves and often times will reward that.

These are but three ways in which you can see benefits of completing your degree. I am certain you can think of more. And don’ be afraid of the cost or time it takes to complete. Go to your local community college and look into it. There are programs and grants to help. It is the job of the financial counselors at the schools to help you. After all, they don’t make money if students do enroll. So take the first and most important step in investing. Get an education.

But by the time Mr. Mudd became Fannie’s chief executive in 2004, his company was under siege. Competitors were snatching lucrative parts of its business. Congress was demanding that Mr. Mudd help steer more loans to low-income borrowers. Lenders were threatening to sell directly to Wall Street unless Fannie bought a bigger chunk of their riskiest loans.

So Mr. Mudd made a fateful choice. Disregarding warnings from his managers that lenders were making too many loans that would never be repaid, he steered Fannie into more treacherous corners of the mortgage market, according to executives.

For a time, that decision proved profitable. In the end, it nearly destroyed the company and threatened to drag down the housing market and the economy.

Basically greed was the cause. Think of all of the get rich quick infomercials you saw during this time period. You needed no money down to get a house. Anyone could get a loan. Fannie was a big part of these because the government pushed them, as did the banks to buy up the bad loans in order that banks would have more credit to make more bad loans. It was a vicious cycle.

This is a blog about personal finance. It is a way to keep me on track as I continue to make my way down the path of being debt free. So obviously there will be plenty of talk about ways to save money, to make money. However, I have to watch greed. Greed will cause us to make horrible decisions. Greed is what makes us try to buy a $500,000 house on $45,000 a year income. We must keep a level head and know that this is a long process. Realizing that if we are doing this simply to have bigger toys, we may get swept up in the next bust.

So why am I worrying about my finances if it is not about the bottom line? The reason is that personal finance is not about the ‘Benjamin’s’. It is about a life style. Not the champagne and caviar idea from Hollywood. Rather a life of fulfillment. A life without worrying if my family will have a home in the future. To not have to worry if someone else can help me when I retire. Abilities to help friends and strangers with needs. Money is simply a means to an end.