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By Suzanne Richardson A six- or seven-figure income has big benefits. Better vacations, a more comfortable house, a college education for your kids at any school they want to attend... and lots of extras. If you're not making that kind of money, you're not alone. According to the U.S. Department of Labor's "A Chartbook of International Labor Comparisons," the average American makes about $23.65 an hour (just under $43,000 a year). But compare that to the average worker in Portugal, who earns $7.33 an hour, or in Hong Kong, who earns $5.65 an hour. Fact is, when you look at the wages in most other countries, Americans don't have much to complain about. Because unlike the majority of people in the world, you don't have to work your fingers to the bone to pull in a decent income. Plus, you can make a LOT more money by taking advantage of smart ways to grow the income you already have. Here are three of Michael Masterson's favorite income generators: 1. Invest in real estate. You can make money - even in a down market - by buying properties that (a) are selling for well below their market value and (b) are in up-and-coming areas that have been untouched by the real estate "bubble." And real estate is a very passive form of income. After you've done the initial legwork of finding properties and lenders, you can sit back and let your properties appreciate in value, and collect monthly rents, without lifting a finger. 2. Get a raise. No matter how low you are on your company's food chain, you can get above-average raises just by inserting yourself into your company's profit stream. Contribute to your company's profits by becoming skilled in selling, marketing, product development, or profit management. 3. Start your own business. This is possibly THE BEST way to supercharge your income. Create an Internet-driven business based on something you're interested in and/or already know something about, and you could wind up making six (or even seven) figures in a few short years. Plus, once your business is up and running and you've worked out most of the kinks, it can operate with very little work on your part. Get involved in any of these ventures, and your income is sure to skyrocket. [Ed. Note: Over the past year, we at ETR have developed a practically fail-proof program for taking an online business from concept to execution... and beyond. If you're interested in profiting from all the benefits of starting an online business, click here to join our priority notification list.] This article appears courtesy of Early To Rise, the Internet’s most popular health, wealth, and success e-zine. For a complimentary subscription, visit http://www.earlytorise.com. Giffyshop is not responsible for the accuracy or usefulness of the information contained in this article. The reader must look into any transaction before engaging in business with any thrid party. |
