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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 called disposable income, residual income isnt really 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 get 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 real estate propertyresidential or business. Yes, the house needs to be maintained, but the earnings still stream in every month.

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

In all these cases, your one-time investment consistently offers you an income at the same time 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 like 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 entry to the experts knowledge.

Since the entrepreneur has already prepared the content, they all need to do is watch the money roll in (of course, only once theyve gained a following and marketed the hell out of themselves)!

In the electronic era, 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 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 through 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, if you invest up-front (by recruiting faithful customers), the long-term rewards can be enormous!

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

That 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 a 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, then there will always be a limitation to your incomethats the term salary limit exists.

Unlike your company salary, passive income has no limits. Want to earn 7 figures Then begin investing!

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You can work your ass off to make money but youll never get anywhere until you start making passive income. I make money on seven different income sources but some of them take a lot of work.

Passive like this income is money you earn from a solution or an investment where you dont need to do any more work once you set this 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 you will ever be free from worrying about money and the only way that you will 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, a few of these are going to take work but may mean thousands a month you can count on.

If you want more excellent movies 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. Register and More about the author Join the Community.

Im going to begin with the simple passive income ideas, the ones which you can start making money on instantly and will operate through to the ones youll create the most money on as we go through the listing so be sure you stick around to catch those last few passive income plans.

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