Unemployment figures released by the International Labor Organization (ILO) in January 2008 indicate that there are about 190 million unemployed people worldwide but this figure is expected to increase by five million due to the current economic turbulence.
Experts agree that generating home based residual income can be a major step in reducing unemployment and improving household incomes.
Home based residual income has been defined as income that comes in regularly from home based investments with little or no effort on the part of the investor.
This article discusses the problems of unemployment and why schools should teach students how to generate home based residual income.
Unemployment affects all countries around the world.
It affects American countries and does not spare Africa, Asia or European countries.
According to ILO an unemployed person is one who is prepared to work and is actively looking for work but without work.
The costs of unemployment include direct social welfare payments, loss of fiscal revenue which would have been contributed by the unemployed, not to mention social and psychological problems such as emotional instability, loss of self respect, progressive apathy and frustration.
How can teaching students how to generate home based residual income be of help? School generally teaches students to be job seekers rather than creators of employment.
It is a problem of mind set.
Students are trained to become pilots, engineers and the like.
Most schools teach students to depend on employers for survival.
Students are not taught how to generate residual income let alone home based residual income which would continue to come in even when they lose their job.
Everyone is a prisoner of a system that does not teach people to be self dependent.
The writer talked to several individuals about losing a job.
When John, who is 54 years of age, lost his job, he said that his work of 30 years collapsed.
If John had been taught the basic principles of generating home based income he would not be depending on his employer at 54.
If one knows the basic principles generating residual income, earning online home based residual income is not very difficult.
The internet has reduced the cost of starting a home based residual income considerably.
There is even plug in systems that can help newbie investors to start off generating multiple streams of home based residual income.
Generating home based residual income could be taught as subject within entrepreneurship or investing.
Residual income can also be generated from real estate, buying stocks, copyrights to intellectual property, franchise fees, the list is endless.
If every student who comes out of college knew how to save and invest his savings, they would not only benefit themselves but also our planet.
The carbon emissions generated would be reduced as the burden of travelling long distances every day to find work would be curtailed.
With online home based residual income, an individual can live and work anywhere around the globe.
Debit cards and automated cash teller machines (ATM) have made it possible to withdraw money from any major city around the world.
Unemployment is not about to go away.
You do not need to lose your job before you start learning how to generate home based residual income.
Teach your children how to generate home based residual income and help them to have a balanced view of money.
Discuss with policy makers the benefits of teaching principles of generating residual income in schools.