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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 work to determine what your income is after paying all expenses and debts.

If youre reading this guide, then youre likely curious about passive incomeand how 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 property propertyresidential or business. 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 their retail or net price of each book soldin perpetuity.

In each of these circumstances, 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 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 purchase 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 (obviously, only once theyve gained a following and marketed the hell out of these )!

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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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 product sales are:

Product Distribution: Companies that enable individuals to become product distributors and earn a return on their customers purchases are another source of passive income. As with any other sort of passive income, should you invest up-front (by recruiting faithful clients ), the long-term benefits can be huge!

Affiliate Programs: As an affiliate, you promote a companys goods or services on your website, and you get a percentage of their sale when someone clicks from your site to purchase it. If your Read More Here site gets lots of traffic, then you can earn a penny out of affiliate links!

This 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 would be, no matter how hard you work, no matter how fantastic you're at your job, no matter how much extra time you log, there'll always be a limitation to your incomethats why the word salary limit 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 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 require a good deal of work.

Passive income is money you make from a solution or an investment in which you dont need to do any more work after you put it up. That means consistent cash flow each month whether youre working or not.

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

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Im going to share my seven popular passive income sources, income streams I Get More Information use to create money each month. Now Im not going to sugar coat this, some of these are going to take work but will mean thousands a 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 free and were growing a great community. Subscribe and Join the Community.

Im going to begin with the simple passive income ideas, the ones you can start making money on immediately and will work through to the ones youll create the maximum money on as we go through the list so be sure to stick around to catch see post those last couple of passive income strategies.

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