How to Retire on Residual Income from Writing Articles

Millions of people had their retirement savings wiped out in recent years as the stock market and economy crashed. For most, this meant that the dream of retirement was just that. However, what if you were told that you could still retire despite a huge decrease in your investments by simply writing a few articles a day online? The truth is that people across the country are earning money writing short articles and you can do the same. Here are five steps you should take to retire from writing articles online.

First you need to figure out how much money you are going to need to bring in every month in order to retire. Some people will only need to be a few hundred if they still have a large portfolio; however others will need a few thousand dollars a month from writing articles. Do the math and make sure you account for inflation as well. Now write that number down and think of it as a goal to earn money online.

You will then need to figure out when you would like to retire. You may want to retire in a year or ten years. Decide what your personal goal for retirement is and write that date right next to the amount you need to earn. You have until that time to write enough articles to retire on. Set your retirement goal and stick to it.

Here is where the work begins. Start signing up for several different sites that will pay you month after month on your articles. This is called residual income and it is essential if you want to retire from writing articles. This is because it is money you will be getting month after month even when you stop writing at retirement. Some sites to get you started include; Helium, eHow, InfoBarrel, Firehow and Associated Content. All of these sites are legitimate ways to build a residual income. The reason you want to write for a large number of sites is because if one of these sites goes under, your income will not be affected as much. Think of it as diversifying your article investments.

Now we will just imagine that you would like to retire in five years. If you write three articles a day for those five years, you will have written 5475. Now just imagine if each of those articles earned you just $1 a month. Do you think you could retire on $5475 a month? Most people probably could. So this is a great goal to work toward.

In the mean time, while you are writing for those five years you will still be earning money. You could just wildly spend that money, but it makes more sense to save and invest that money. A high yield savings account is a safe place to earn interest on the money you have made, so there is very little risk in losing that money. Imagine the amount of money you can acquire through residual income and interest over those five years. Talk about a nice retirement!As you can see, just because the stock market crashed does not mean you cannot retire. If you put in just an hour or two a day, you can create a large residual income and nest egg by then time you leave the workforce. So what are you waiting for? Get started writing today!