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There are tons of articles out there confusing passive income with residual income. However, 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 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 get from a real estate propertyresidential or business. Yes, the property needs to be maintained, but the earnings still flow in each month.

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

In all of these cases, your one-time investment consistently provides you with an income while you sit back and collect on it. What could be better than that!

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In the entrepreneurial world, another popular type of passive income is click-to-purchase content, which includes products such as e-books, how-to guides, or online classes. Essentially, the entrepreneur sells their expertise through 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, 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 themselves)!

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

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

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

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

This is exactly 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 occupation is, no matter how hard you work, no matter how fantastic you are in your job, no matter how much additional time you log, there will 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 start investing!

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You can work your butt off to earn 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 out of a product or an investment where you dont need to do any more work once you put this up. That means consistent cash flow each month if youre working or not.

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Thats the only real way to financial freedom. Passive income is the only way you will be free from worrying about money and the only way that you will ever achieve financial independence.

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Im going to share my seven favorite passive income sources, income flows I use to create find more info 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.

In case you want more excellent videos on making money and making your money work for you, dont forget to subscribe to the YouTube channel. Its completely free and so were growing a great community. Register and Join the Community.

Im going to begin with the easy passive income thoughts, the ones you can start making money on immediately and will work through into the ones youll make the most money on as we go through the list so be sure you stick around to grab those last few passive income strategies.

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