Passive and Residual Income Explain

Earning recurring residual or passive income is becoming one of the best ways to receive money on a regular basis. It always has been a great way to leverage work hours but even more so now with the financial institutions in such turmoil.

Let us begin by explaining what a passive or residual income is in internet terms.

It is income you work once to get and it keeps coming in on it's own without you having to do anything else.
Of course you have to work to start it, and you have to continue to work to make it grow, but once you get it, it just keeps coming in on its own.

A great example of this is where you have a membership site charging a fee of say $10 per month to access it. If you have say 100 members you will receive $1000 per month from the site. Now you would still get $1000 per month regardless if you worked the following month or not, assuming that 100 members still subscribed that is.

So you can see the power of the residual or passive income, sure you have to set it all up to run but once it is running then it generates revenue for you over and over again.

Who doesn't love that?

So, no matter what you call it... Residual income, passive income, or recurring income, you need to find something that you can use to create it.

It will allow you to make money and still have time to do the things you want to do, instead of the things you have to do!