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There are tons of articles out there confusing passive income with residual income. But in the financial world, residual income has an entirely different meaning. Also called disposable income, residual income isnt really a type of income, its a calculation that accountants work to determine what your income is after paying all expenses and debts.
If youre reading this guide, then youre probably interested in passive incomeand the way to earn it. There are numerous ways to earn passive income, including from:
Stock returns: Dividends you get paid from any stocks you own, which earn you money long after their purchase.
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Investment properties: Rent you receive from a property propertyresidential or commercial. Yes, the property needs to be maintained, but the earnings still flow in each month.
Book sales: Royalties an author receives for writing a book. Generally, they get paid a percentage of their retail or net price of each publication soldin perpetuity.
In all of these cases, your one-time investment consistently offers you an income at the same time you sit back and collect on it. What could be better than that!
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In the entrepreneurial world, another popular form of passive income is click-to-purchase content, that includes products like e-books, how-to guides, or online classes. Essentially, the entrepreneur sells his/her expertise by means of these pre-prepared online productsindividuals buy the e-book or online training to gain access to the experts knowledge.
Since the entrepreneur has prepared the content, all they need to do is watch the money roll in (of course, only once theyve gained a following and promoted the hell out of these )!
In the electronic era, knowledge is powerand money. Selling your knowledge through online merchandise is big business. Why not tap into it
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Of course, the selling of manufactured goods or merchandise is an age-old source of income, but can it be passive income It could be, depending on the business model. Some of the most common sources of passive income via merchandise sales are:
Item Distribution: Companies that enable individuals to become merchandise distributors and earn a return on their customers purchases are another source of passive income. As with any other type of passive income, if you invest up-front (by recruiting faithful customers), the long-term rewards can be enormous!
Affiliate Programs: As an affiliate, you market a companys goods or services on your website, and you receive a percentage of the selling when someone clicks from your site to buy it. If your website gets a lot of traffic, then you could earn a pretty penny from affiliate links!
This is exactly what dreams are made from. Youre making money even when you arent doing anything. This means that even if youre sick, traveling, or dont feel like working, the money youre your passive income source(s) continues to roll in.
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The thing about earning money from your corporate occupation would be, no matter how hard you work, no matter how fantastic you're at your work, no matter how much additional time you log, there'll always be a limitation to your incomethats the word salary cap exists.
Unlike your company salary, passive income has no limitations. Want to earn seven figures Then start investing!
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You can work your ass off to make money but youll never get anywhere until you start making passive income. I make money on seven different income sources but a number of them require a good deal of work.
Passive income is money you earn from a solution or an investment in which you dont need to do any more view website work once you put it up. That means consistent cash flow each month if youre working or not.
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Im going to share my seven popular passive income sources, income streams I use to make money every month. Now Im not going to sugar coat this, some of these are going to take work but will mean thousands per month you can count on.
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Im going to begin with the easy passive income ideas, the ones which you can begin making money on instantly and will operate through to the ones youll click this link make the most money on as we go through the listing so be sure you stick around to catch those last couple of passive income plans.