Grow Your Money With Residual Income
In my last two posts, I have talk about passive income and leverage income.
Residual income is occurring income derive from work done one time and continue to generate income in the long term.
It is similar to leverage income but the main difference is that in leverage income you use other people’s labor to produce income for you whereas in residual income you need to perform work at least one time to produce income. (Click here for more information about leverage income.)
You may not need to have personal involvement in the generation of income or you may be required to have some personal interaction. No matter what, it is a great why to produce recurring income.
Here are some examples:
- Selling an ebook you wrote online through your own website (no personal involvement)
- Insurance agent getting commission from customers who renews their policy but the agent is require to calling his/her customers to renew their policy (personal involvement required)
- a fitness video you created and sells in your own gym
- You grow your business to a point where you delegate the operation of the business to a trusted manager.
One of the most popular form of online residual income is affiliate or associate program. As I have explained before, companies use these programs to compensate associate or affiliate for promoting and/or selling their products or services.
This form of residual income is very inexpensive to start but requires effort to promote and get people to sign up with the program or services you are promoting. Once you have a very popular website that promotes the affiliate program then you can generate a good monthly residual income.
There are other examples but all of them can bring fantastic long term financial rewards. It can improve your current cash flow and start your way to financial freedom.
Next post, I will talk about the power of combining the leverage income and residual income.
Related Post:
Article of Interest:
- Reasons To Work For Yourself
- Is It Difficult to Save?
- Cancel Your Credit Card Will Bring Down Your Credit Score!
- Are You Ready to Retire?
- How to Save Money On Gas and Tips to Improve Mileage for Your Car
- Get Money In Your Mailbox
Video Of Interest
Comments
2 Responses to “Grow Your Money With Residual Income”
Leave a Reply
-
Recently Written
- The Cost of Thanksgiving Dinner
- Humor on the Financial Crisis
- Bailing Out The Irresponsible Executives!
- The Fanciest, Crazy, Huge, and Most Expensive Wedding!!
- Man Pays New Truck with Thousands of Coins
- Judge Rules Cell Phone Early Termination Fees are Illegal
- Yao Ming and LeBron James Olympic Coke commercial
- Lucky Numbers
- Does Gas Saving Gadgets Work?
- Powerful And Emotional Cartoon
- Carbon Copy Pro Comprehensive Review: Part 1 (73 views)
- Carbon Copy Pro Comprehensive Review: Part 2 (24 views)
- Free Tuition for College Education (15 views)
- Cancel Your Credit Card Will Bring Down Your Credit Score! (14 views)
- Cars on Hangzhou Bay Bridge (11 views)
-
Categories
-
Archives
-
Admin
Popular Posts
Subscribe
I “Entrecarded” your blog and discovered some nice articles! i write around the same subject, so anything about money appeals to me
keep up the good work!
Great points. It’s the multiplier effect that really kicks in. Unlike trading time for money as in a traditional “job,” with residual income, you’re not limited by hours in the day to earn money.