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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 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 real estate propertyresidential or commercial. Yes, the property needs to be maintained, but the earnings still flow in each month.

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

In all of these cases, your one-time investment consistently offers you 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 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 digital 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 products is an age-old source of income, but can it be passive income It could be, depending on the business model. Two of the most common sources of passive income through product sales are:

Item Distribution: Companies that enable individuals to become merchandise distributors and earn a return on their clients buys are another source of passive income. As with any other sort of passive income, if you invest up-front (by recruiting loyal customers), 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 selling when someone clicks from your site to purchase it. If your sites website gets lots of traffic, you could earn a 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 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 a 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 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 Continued 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 some of them require a lot of work.

Passive income is money you earn out of a solution or an investment in which 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 ever be free of worrying about money and the only way you could ever reach financial independence.

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Im going to discuss my seven favorite passive income sources, income flows I use to make money each 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 great videos on making money and making your money work for you, dont forget to register to this YouTube channel. Its completely free and so were growing a fantastic community. Register and Join the Community.

Im going to begin with the simple passive income ideas, the ones you can begin making money on immediately and will operate through into the ones youll make the most money on as we go through the listing so be sure to stick around to grab those last couple of passive income strategies.

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