Tag Archives: residual income

8 Residual Income Advice Sites to Help Make Mondays Stink Less

ratraceMondays stink.

Unless, of course, you develop residual streams of income. Then, Monday is just another day to earn money.

Residual income is derived from products and services that you work on once and they continue to generate income–perpetually. The internet has opened up more residual income streams than ever. Before, rent and royalties were about the only types of residual income stream available to the common person.

New residual income products and services include:

  • eBooks
  • Affiliate sales
  • Blogs
  • Web advertising
  • Contextual ads
  • Invention royalties
  • Video and podcasting seminars

And there are a lot more. To learn more, you can check out the following sites, all of which specialize–in one form or another–in the creation of residual income.

Continue reading

Share

Is Your Boss Robbing You?

You can list a dozen reasons why you’re working at your current job. It might be 0ut of desperation–you need the job.

Maybe it was the first job you got. And you never left.

You may have considered it a stepping stone in your career, but somehow got stuck. You may have been pushed into it.

And, there’s always the chance that you like your job, or that you liked (past tense) the work, but the job or environment has changed.

Whatever the reason, you’ve stayed and it’s become a bit of a rut. Now this job is robbing you of time and motivation. In a strange way, you’re losing money by working.

Continue reading

Share

Ten Ways To Make Money Without Trying

studebaker_factory

A Studebaker factory. Picture by KM Photography on Creative Commons.

The idea that pain and money are linked together is ancient. We earn our livelihood by the sweat of our brows, as the verse goes.

But things are changing.

The free enterprise system coupled with increasing technology are creating more opportunities to create wealth in some unconventional ways. Now, these aren’t necessarily effortless ways to earn money, but once set up, they can produce pretty much work-free money.

Sometimes, when you’re doing what you love, it may seem like you’re doing nothing. Fortunately, technology has given individuals access like never before to markets and tools for those people.

Continue reading

Share

How To Declare Your Own Financial Independence In Four Steps

declarationOn a sweltering July 4th, 1776, a group gathered in a small room in a red brick building located in Philadelphia and began the process to adopt the Declaration of Independence, a simple document that would alter the future of a nation.

There were a lot of reasons the men who huddled on that July day were sweating–besides the humid 90-degree temperature. They were doing something that wasn’t just totally new and revolutionary, they were committing treason.

While (hopefully) you’re not facing treason charges and you don’t have the weight of history bearing down on your shoulders, the idea that you can master your own financial destiny is no less unconventional, or revolutionary.

Most people pass their responsibility on to financial advisors, or simply shrug off their commitment to their future and rely on luck and old “work until you retire” directive to guide their destiny.

It doesn’t have to be that way. Here are four steps you can take to sign your own Declaration of Financial Independence.

Continue reading

Share

When Your Dream Job Turns To The Job-From-Hell

I admire people who have settled into jobs that naturally fit them. They go to work happy. They spend their day pleased and fulfilled. And, when night comes, they don’t toss and turn, dreading the morning light.

It’s great to be in this position and I know people like this. Honestly, I don’t make it a practice to rain on parades, but, after a chat with a friend, I recognize that some dream jobs can turn into nightmares.

What do you do when the dream job becomes the job from hell? Most think they’ll cross that bridge when they come to it, but you should start building your bridge before you come to it. As in most cases, preparation is the key. Here are a few things you can do RIGHT NOW to make sure you can wake up instantly if your job becomes a nightmare.

Continue reading

Share

Automatic Income Potential From Automated Trading

In our quest to find methods of providing residual income–money that reliably lands at your feet month after month and year after year–we finally arrive at the last one we’ll study in this series.

To recap, we talked about owning rental units, investing in dividend stocks, inventing products, and creating digital products to secure residual income and open the gates to financial freedom. Our last method may be the residual income wave of the future.

Automated trading uses computers to automatically place trades for you. These trades can be based on technical or fundamental factors, or any other stock-picking practice. Alternatively, a famous trader can send out position calls based on his or her own calls or methodology.

The calls are enacted nearly instantaneously through internet technology, so there’s very little lag between when the call is made and when the actual transaction takes place.

Continue reading

Share

Author! Author! Writing eBooks For Residual Income

ebookYesterday, we talked about how inventors can create products that spin off residual income through royalties,  regular percentages of sales.

But, you say, not everyone is a new widget creator or gadget maker. True.

There are other ways for you to unleash residual income through royalties. You might want to create and sell information products. An eBook is one example.

A rather new form of book-selling, the eBook is usually offered in pdf form. Most think that offering digital products to readers is an insignificant royalty stream. You won’t make the New York Times bestseller list, right? You might not make the bestseller list, according to books like the 4-Hour Work Week and Career Renegade, writing electronic books or producing electronic products can deliver a regular stream of residual income.

Jonathan Fields, who wrote Career Renegade, points out several successful projects that created residual income for their authors in his book. Leo Babauta’s Zen Habits sold thousands of copies and, with no publisher and agent to divide up its earnings, each sale was pretty much all profit.

So, what do you need to know about creating residual income with information products?

Continue reading

Share

Create Products For Income That’s Passive And Massive

Invention of PaperEver have an idea to fix a problem or surmount a challenge and then see that very same product in a store a few years later?

And you think, “Hey, they stole my idea!”

Chances are, unless your telepathic powers are fairly high-level, the inventor didn’t steal your idea. He or she just acted on the same concept that was floating around in the collective conscious. The difference is action.

If you have seen your ideas reproduced later by other inventors, don’t be discouraged. In fact, you should be encouraged. Here’s why:

Correctly identifying needs and solutions is a good sign that you can be an inventor or a product developer. To take that next step, you need to learn how to introduce your product into market. There are primarily two ways to accomplish this. You can either invent, produce, and sell the product yourself; or, you can license the invention to someone else and collect a royalty, a percentage of the sale of that product.

Most inventors prefer that latter, since it’s more hands-off and inventors like to keep their “hands on” new ideas. It’s another form of residual income that will help you secure your financial freedom.

Ideally, you would get a patent in order to license your product. However, as more companies trim their research and development staffs, part-time inventors are finding that companies are opening to new ideas, even ideas that are patented.

Obviously, making a best-selling product isn’t without its pros and cons. Here’s the break down.

Continue reading

Share

Using Stock Dividends To Create Residual Income Streams

DividendsInvestors make money from stocks in a few ways, but, the primary strategy is to buy a stock of a company that grows. As the company grows its profits its stock should grow along with it.

But, originally, company stock were held because of the profits that the company would share with its shareholders through dividends. Dividends ranged from a few cents per share, to a few dollars a share for great-earning dividend stocks. This dividend is measured by a stock’s yield, which indicates what percentage of the stock’s price is represented in a dividend. For instance, a 1 percent yield means that the dividend is 1 percent of the price of a share of stock.

Some of these dividend-producing stocks rolled out money so regularly that they became known as “orphan and widow” stocks, so named because orphans and widows could live off the timely release of their dividends.

But is it still that way?

Continue reading

Share

Owning Rental Units For Residual Income

LandlordCreating streams of residual income is one of the secrets of wealth creation and financial freedom.

There are several ways to create these streams. Today, we’ll discuss how real estate can help you secure a continual income stream. There are primarily two ways real estate investors make money: one way is through buying and re-selling properties, or “flipping.” It can be an effective technique, but not exactly a residual form of income, unless you can predictably sell a property every month without much effort in any market.

The second way to secure income through real estate investing is by owning rental properties. In other words, you become a landlord.

Of all the residual forms of income, this is perhaps the most difficult, but it’s also the most common. Here’s one scenario of how you can get introduced to this type of investment. You buy a property and live in it for awhile. Then, you purchase another property and rent out the former residence. The money that comes in as rent goes toward your current mortgage, or pays the mortgage of your rental place.

Some investors keep acquiring new properties as they pay off the old ones; others just jump into it with full force, buying up rental properties.

Here are the pros and cons of this form of residual income:

Continue reading

Share