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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 known as disposable income, residual income isnt actually a sort of income, its a calculation that accountants work to determine what your income is after paying all expenses and debts.
If youre reading this article, then youre probably curious about passive incomeand the way to earn it. There are numerous ways to earn passive income, including from:
Stock returns: Dividends you receive 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 house needs to be maintained, however, the earnings still stream in every month.
Book sales: Royalties an author receives writing a book. Generally, they have paid a percentage of the retail or net cost of each publication soldin perpetuity.
In all these cases, your one-time investment consistently provides you with an income while you sit back and collect on it. What could be greater than that!
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In the entrepreneurial world, another popular form of passive income is click-to-purchase content, which includes products like e-books, how-to guides, or online classes. Essentially, the entrepreneur sells their expertise by means of these pre-prepared online productsindividuals buy the e-book or online training to gain access to the specialists knowledge.
Since the entrepreneur has already prepared the content, all they need to do is watch the money roll in (of course, only after theyve gained a following and promoted the hell out of these )!
In the digital age, 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 might be, depending on the business model. Some of the most common sources of passive income via merchandise sales are:
Product Distribution: Companies that enable individuals to become merchandise distributors and earn a return on their clients buys are another source of passive income. Like any other sort of passive income, should you invest up-front (by recruiting faithful customers), the long-term rewards can be huge!
Affiliate Programs: As an affiliate, you promote a companys products or services on your website, and you receive a percentage of their sale when someone clicks from your site to buy it. If your site gets a lot of traffic, then you can earn a penny out of affiliate links!
That is exactly what dreams are made from. Youre making money even when you arent doing anything. This means that even when 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 is, no matter how hard you work, no matter how fantastic you are at your work, no matter how much extra time you log, there'll always be a limit to your incomethats why the term salary cap exists.
Unlike your company salary, passive income has no limitations. Want to earn seven figures Then begin investing!
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You can work your ass off to make money why not try these out but youll never get anywhere until you start making passive income. I make money on seven different income sources but some of them require a lot of work.
Passive income is money you make from a product or an investment in which you dont need to do any more work once you put this up. That means consistent cash flow every month if youre working or not.
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Im going to share my seven popular passive income sources, income flows I use to make money each month. Now Im not going to sugar coat this, some of them are going to take work but will mean thousands per month you can count on.
If you want more excellent videos on making money and making your money work for you, dont forget to register to the YouTube channel. Its free and so were growing a great click to find out more community. Register and Join the Community.
Im going to start with the easy passive income thoughts, the ones you can begin making money on immediately and will operate through into the ones youll make the maximum money on as we proceed through the list so be sure to stick around to catch those last few passive income plans.