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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 really a type of income, its a calculation that accountants perform 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 shares you own, which earn you money long after their purchase.

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Investment properties: Rent you receive from a property propertyresidential or business. Yes, the property needs to be maintained, however, the earnings still flow in every month.

Book sales: Royalties an author receives writing a book. Generally, they have paid a percentage of their retail or net cost of each book soldin perpetuity.

In each of these circumstances, your one-time investment consistently provides you with an income at the same time you sit back and collect on it. What could be greater than that!

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In the entrepreneurial world, another popular type of passive income is click-to-purchase content, which includes products like e-books, how-to guides, or online courses. 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 prepared the content, they all need to do is watch the money roll in (of course, only once theyve gained a following and promoted the hell out of themselves)!

In the electronic age, knowledge is powerand money. Selling your knowledge through online merchandise is big business. Why not tap into it

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Obviously, the selling of manufactured goods or merchandise is an age-old source of income, but is it passive income it might be, depending on the business model. Two of the most common sources of passive income via product sales are:

Item Distribution: Companies that enable individuals to become merchandise vendors and earn a return on their clients buys are another source of passive income. As with any other sort of passive income, should you invest up-front (by recruiting loyal customers), the long-term rewards can be huge!

Affiliate Programs: As an affiliate, you promote a companys goods or services on your website, and you receive a percentage of their selling when someone clicks from your site to buy it. If your site gets a lot of traffic, then you can earn a pretty penny out of affiliate links!

This is what dreams are made of. 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 job would be, no matter how hard you work, no matter how fantastic you are in your work, no matter how much additional 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 limits. Want to earn seven figures Then start investing!

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You can work your butt 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 take 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 work after you set it up. That means consistent cash flow each month if youre working or not.

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Thats the only true way to financial freedom. Passive income is the only way you will ever be free of worrying about money and the only way that you will ever reach financial independence.

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Im going to share my seven favorite passive income sources, income streams I use to create money each month. Now Im not going to sugar coat this, a few of them are going to take work but will mean thousands per month you can count on.

In case 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 fantastic community. Subscribe and Join the Community.

Im going to begin with the easy passive income ideas, the ones which you can begin making money on immediately and will operate through into the ones youll create the most money on as we go through the listing so be sure wikipedia reference to stick around to grab those last few passive income strategies.

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