A residual income is defined as one that keeps coming month after month, year after year, even when you are not working, or doing very little to maintain it. Basically you do the work once and keep getting paid from it for a very long time. There’s a little more to it than that but really that’s what it amounts to and it is one of the best ways to create financial freedom for yourself. Typically you do have to work very hard at first but the rewards are well worth the effort once you start earning a full time income that keeps coming in without any additional work.
The residual income definition also often includes passive income, but although a residual income is one example of passive income, they are not always one and the same. Earning passive income can help you do a lot of things with your life that you never could have done before. You are free to do a lot more when you don’t have to trade time for money.
There are many online business opportunities with residual income compensation plans, which is one popular way to earn a passive income online, but there are also many more ways to do it. Network marketing or MLM businesses are also very popular for earning residual income. Membership sites can also be one of the best ways to do it. Building high search engine rankings and making money from Adsense can also be a great way to earn residual income, and it happens to be my favorite way.
A few other ways include… Writing a book and getting royalties on any sales it makes for the rest of your life, investments that pay regular dividends, or even starting your own business and growing it to the point where you can just hire trustworthy managers to run it for you while you collect the cash.
So, if you are looking for something where you work once and get paid forever then you need to learn how to earn passive residual income right now. And that’s what this blog is for!
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