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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 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 article, then youre likely interested in passive incomeand how to earn it. There are numerous ways to earn passive income, including from:

Stock returns: Dividends you receive 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 commercial. Yes, the property needs to be maintained, but the earnings still stream in every 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 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 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 such as e-books, how-to guides, or online classes. Essentially, the entrepreneur sells his/her 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 (obviously, only after theyve gained a following and promoted the hell out of these )!

In the electronic age, knowledge is powerand money. Selling your knowledge through online products 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 can it be passive income it might be, depending on the business model. Two of the most common sources of passive income through merchandise sales are:

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

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

That is what dreams are made of. Youre making money even when you arent doing anything. This means that even if 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 is, no matter how hard you work, no matter how fantastic you are at your work, no matter how much extra time you log, there will always be a limit to your incomethats the term salary cap 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 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 take a lot of work.

Passive income is money you earn out of a solution or an investment in which you dont have to do any more work once you put it up. That means consistent cash flow every 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 you could ever achieve financial independence.

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Im going to share my seven favorite passive income sources, income streams I use to make money every month. Now Im not going to sugar coat this, a few of them are going to take work but may 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 were growing a great community. Register and Join the Community.

Im going to begin with the easy discover here passive income ideas, the ones which you can begin making money on instantly and will work through to the ones youll create the maximum money on as we proceed through the list so make sure to stick around to grab those last couple of passive income plans.

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