RESIDUAL AND PASSIVE INCOME STREAMSby M.C. Nygard
RESIDUAL AND PASSIVE INCOME STREAMS
(what are they and how can you get them)
by M.C. Nygard
My father always said "make your money work for you." He was right, but the trouble was, he never figured out how to do it. But he did DO one thing right. He worked 25 years at his job for a bank that offered a pension and he's been living off it since he retired at 50.
The pension he receives is a form of residual income, also called "passive income" or "recurring income." It's money that continues to be generated after the initial effort (his 25 years of work). Pensions are a rare form of residual income today as people shift careers about as often as they buy a new car. Today people rely on 401Ks, IRAs, and social security to sustain security in the retirement years.
There are residual income opportunities everywhere, but we don't always take action the way we should.
* Become a landlord. Buy Real Estate, find tenants, then sit back and watch as someone else pay your mortgage. There is a talent to buying a property where the cashflow is in your favor. Donald Trump and Robert T. Kiyosaki are the masters. See our bookstore to secure our favorite titles. You must first ensure that the mortgage, insurance, taxes, and maintenance costs are lower than the rent you are collecting. It's no easy feat, especially if you're in California.
* Take action in affiliate marketing. Clickbank is a popular marketplace for affiliate marketers and it's packed with residual income opportunities. There you sign up, pick a product, target at your audience, write an ad and insert your affiliate link and start collecting the income. There are many here at Lazzeo taking advantage of this resource with varying degrees of success, each has failed at programs.
* Develop a content rich Web site. You can gain income quickly from Google if you create a content rich site that draws massive amounts of traffic. The funds can come if you cleverly sprinkle the site with Google pay-per click ads. The trick is developing an audience that matches relevant ads available in Google. The market is already saturated with the winners and finding golden nuggets is more difficult now than it was a few years back.
* Start a career in sales. Financial advisors are salespeople as are insurance brokers who are paid commission after a policy has been in place for a certain length of time. Many sales positions, like insurance or financial investing, require getting a license. Easy enough, but a bother for the quick career switch. Moreover, a sales career requires a talent that not everyone possesses.
* Buy a franchise. A franchise is someone elses business model that you purchase. It gives you the rights to their branding, resources, and model for success. But this requires capital, and still requires that you have the business acumen to follow the course of action and wait years to realize a return on your invesment.
* Buy stocks and collect dividends. In a downturned economy, it's the best time to buy stocks, not to sell them. Hold on to what you have and try to buy up stocks you know about. Most investments will grow with time. The key is to select investments that yield recurring dividends. Reinvest the
* Become a photographer, illustrator or Photoshop artist. Sell your art and you'll earn residual income everytime someone downloads your digital images.
* Write a book or a magazine article. You will earn residual income if a publisher takes on your project. Of course writing a book through a publisher or getting your article published by a magazine requires
* Write an eBook. You can sell an eBook on your own Web site, on Amazon, or through the affiliate marketplace, such as ClickBank, Affiliate Junktion, or Share-a-sale and earn money to your PayPal account. While you can no longer sell an eBook on eBay, you can sell a DVD or hardcopy report. The problem is that you then have to mail it so it no longer is a form of residual income. The solution is to create a classified ad that directs to your Web site or blog to conduct the sale.
Okay, you get the idea. Here are some other residual income ideas:
* write a song (collect royalties from published music)
* become an actor (get residual income off movies in syndication)
* write a software program (
* create a game (one of my favorites is CASHFLOW 101 by Robert T. Kiyosaki and is available in our bookstore).
You get the point that you need to invent something. But things are only a reality for you if you take action. If you want an easier way to take action and get started in a truly profitable club, then take few minutes of your time now to set up.
Passive income is possible to attain, just be shopping eBay.Get the secret at www.cashbackatebay.com/secrets
The good news is that it's free. When you set it up, and start promoting it through blogs, social networks, business cards, and word of mouth, you will grow your base of referrals and virtually guarantee an income for life. They will want to join because it's free and it can save them money, and they can earn money from others with you.
Remember that while this cashback at eBay method offers you one form of residual income, you should concentrate on getting multiple forms of residual income.
Created on Dec 31st 1969 19:00. Viewed 0 times.