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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 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 property propertyresidential or commercial. Yes, the property needs to be maintained, however, the earnings still flow in every month.

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

In all these circumstances, 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, 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 entry 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 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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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. Some 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 buys are another source of passive income. Like any other type 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 site, and you get a percentage of the sale when someone clicks from your site to buy it. If your website gets lots of traffic, then you can earn a pretty penny out of affiliate links!

That is what dreams are made from. 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 click this you're at your job, no matter how much additional time you log, there'll always be a limitation to your incomethats the term salary cap exists.

Unlike your company salary, passive income has no limitations. 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 require a good deal of work.

Passive income is money you make out of a product or an investment in which you dont need to do any more work after you set this up. That means consistent cash flow each month whether 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 from worrying about money and the only way that you could ever reach financial independence.

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Im going to discuss my seven favorite passive income resources, income streams I use to create money each month. Now Im not going to sugar coat this, some of them are going click here to find out more to take work but may mean thousands per month you can count on.

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

Im going to begin with the simple passive income thoughts, the ones you can start making money on immediately and will operate through to the ones youll create the maximum money on as we proceed through the listing so make sure you stick around to catch those last couple of passive income plans.

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