Multiple Streams of Income Audio CD
7 CDs / Bonus CD & PDF Workbook
Robert G. Allen
- 7 CDs / Bonus CD & PDF Workbook
- Robert G. Allen
Once upon a time, an individual could join the job force, work for the same company for 40, even 50, years before retiring to a comfortable pension provided to them by the company. While this was the norm for most of the last century, it may as well be a fairy tale for how frequently you see such scenarios play out today. What this means is that if you are ever hoping to retire then you are going to need to take matters into your own hands which is where Passive Income: The Ultimate Guide on How to Quit Your Job and Live Life on Your Own Terms comes into play.
Passive income is any income that is generated without an equal amount of work being required to create or earn it. Passive income is the reason why many wealthy individuals never seem shackled to any type of daily grind yet still manage to rack up six figure plus salaries month after month and year after year. Setting up your own passive income stream doesn’t necessarily require a large amount of capital up front, as long as you are willing to put in the elbow grease required to ensure your success, a majority of this book is dedicated to helping you get started with the bare minimum of investment capital required in order to start seeing real results in the shortest time possible.
Take a moment to consider your current career trajectory and what you can realistically expect to have once you reach retirement age. If you don’t like the answer you came up with, what are you waiting for? Take control of your financial future and start setting up the passive income streams you need to live the life you have always dream of, buy this book today!
Inside you will find
•A detailed breakdown of the benefits of arbitrage via Fulfilment by Amazon and how you can put the online giant to work for you with practically no money down.
•The easiest way to become a published kindle author, even if you have little to no knowledge of any advanced subjects or possess no writing talent for $100 or less.
•Everything you need to know to create the type of stock photo portfolio that clients will be eager to purchase time and again.
•The secret to finding a rental property to invest in that is sure to generate a reliable return with the minimum amount of investment possible.
•The best way to get the benefits of investing in real estate without having to actually do any of the heavy lifting required when it comes to investing in real estate.
•How to know which type of passive income stream is the right one for you to pursue, right now.
There are so many trendy phrases on-line, as well as jargon that is too technical for the average user, that sometimes it is hard to decipher it all. Even with something so easy as passive income and residual income. Web page upon web page is using the two terms interchangeably and that is wrong. There is a slight, but significant, difference between the two.
Let us begin by going to the most basic difference, the definitions of both.
* Passive Income
Income that is earned through investments, real estate or certain internet ventures. Once the initial investment has been made (whether it be in time or monetarily), the individual does not have to be actively involved after that to make money. View yourself being passive and what do you see? Someone sitting, being lazy and inactive! That is just how passive income works. You don’t have to do anything to make the money you receive.
* Residual Income
Payments made to an individual based on a specific time table after a sale. The amount of each payment is normally a pre-agreed upon amount. Although not an on-line example, royalties are considered to be residual income. Whether the person is a writer, an actor or an illustrator, these people get paid for works that get sold and re-sold and placed into syndication.
When you look at these definitions, you can see that residual income can be called passive income under most conditions, but the reverse is never the case. Once you have put significant work into making the money, you are looking at residual income that will turn passive with time.
So, when you are looking at making money on-line, there are some methods that are ‘passive’ and some that are ‘residual’. Let us take a look at some from each category.
Passive Income Methods:
1. Search Engine Optimization, also known by the acronym SEO, is a passive way to get income. When a search engine ranks you in the top 10, you will get targeted Internet traffic to your site. Whether you are selling products, a service, or just information, you can get passive income just by getting those people to your site once it has been created.
2. Pay Per Click advertising, or PPC advertising, is a passive way to get income. Although you must invest in the advertising, these targeted ads draw business to your site. Once that has been set up with a PPC advertising service, no time or effort is required on your part.
Once these methods of making money are in place, you sit back and have no further investment of time or money ahead of you. You simply enjoy the income.
Residual Income Methods:
1. Selling anything on-line, whether it is a good or service, where the fee is automatically renewed every so often is a residual way to make income.
2. Network marketing which requires you to go out and get customers or find representatives to get customers, from which you earn commissions every month is a residual way to make income.
Affiliate programs fall somewhere between the two. Sometimes they will take very little effort on your part, even from the start, so can be considered passive. However, there are times when a great amount of effort is put forth on your part and payments will be made in such a way that they would be considered residual.
No matter which road you choose, both passive and residual income are great ways to supplement your income or raise the level of your lifestyle. With research, practice, and a little bit of good luck, you can make a good amount of money with either.