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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 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 probably interested in 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, but the earnings still flow 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 publication soldin perpetuity.

In all of these circumstances, your one-time investment consistently provides you with an income while you sit back and collect on it. What could be greater than that!

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In the entrepreneurial world, another popular form 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 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 prepared the content, they all 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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Obviously, the selling of manufactured products or products is an age-old source of income, but is it passive income It could be, depending on the business model. Some of the most common sources of passive income through merchandise 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 loyal clients ), the long-term rewards can be huge!

Affiliate Programs: As an affiliate, you market a companys goods or services on your site, and you get a percentage of the sale when someone clicks from your site to purchase it. If your site gets a lot of traffic, then you could earn a pretty penny from affiliate links!

This is exactly 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 occupation is, no matter how hard you work, no matter how fantastic you're at your work, no matter how much extra time you log, then there'll always be a limitation to your incomethats the word 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 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 a number of them take a good deal of work.

Passive income is money you earn from a solution or an investment where you dont need to do any more work after you set it 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 be free from worrying about money and the only way that you could ever achieve financial independence.

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Im going to share 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 may mean thousands a 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 the YouTube channel. Its free and so were growing a great community. Register and Join the Community.

Im going to begin with the easy passive income thoughts, the ones you can start making money on instantly and will work through to the ones youll create the most money on as we proceed through the list so be sure to stick around to catch those last couple of passive income plans.

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