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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 called disposable income, residual income isnt really a type of income, its a calculation that accountants perform 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 receive paid from any stocks you own, which earn you money long after their purchase.

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Investment properties: Rent you get from a real estate propertyresidential or commercial. Yes, the property needs to be maintained, but the earnings still flow in each 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 all these cases, your one-time investment consistently offers you 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 type of passive income is click-to-purchase content, that includes products like e-books, how-to guides, or online courses. Essentially, the entrepreneur sells their 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 (of course, only once theyve gained a following and marketed the hell out of themselves)!

In the electronic age, 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 goods or merchandise is an age-old source of income, but is it 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 product vendors and earn a return on their customers buys are another source of passive income. As with any other type of passive income, should you invest up-front (by recruiting loyal customers), the long-term rewards can be huge!

Affiliate Programs: As an affiliate, you market a companys goods or services on your website, and you receive a percentage of their selling when someone clicks from your site to buy it. If your website gets a lot of traffic, you could earn a 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 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 your corporate job would be, no matter how hard you work, no matter how fantastic you are in your job, no matter how much extra time you log, there will always be a limit to your incomethats why the word 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 butt 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 income is money you make from a product or an investment in which you dont have to do any more work after you set this 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 that 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 share my seven popular passive income sources, income flows I use to make money each month. Now Im not going to sugar coat this, a few of them are going to take work but will 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 free and so were growing a great community. Register and Join the Community.

Im going to begin with the simple passive income thoughts, the ones which you can start making money on immediately and will work through to the ones youll create the maximum money on as we proceed through the listing so be sure to stick around to grab those last few passive income strategies.

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