Top Sources of Residual Income
During early civilization, when people were still puzzled at how to transport water from the lakes to their homes, they hired big and strong men to carry water buckets, paying them a dime or two for each carried bucket. Shortly, an innovative idea came into one bucket-carrier's mind - why not build pipelines that connect and transport the water from the lakes to the villagers' homes.
Thus, comparatively similar to building pipelines is the idea of building residual income. Residual income is derived from passive sources that continue to generate recurring income even after the efforts have ended. Compared to the one-shot linear income or the so-called bucket-carrying jobs, residual income poses a great advantage as the moment it is set, the pipeline builder continues to earn from the initial effort.
Consequently, there are lots of sources where one can build pipelines and generate a continuous flow of residual income.
Online Article Writing
One of the easiest and cheapest was on creating a genuine source of residual income is through writing articles online. There are numerous content-websites that pay on residual terms such as Helium, Associated Content, Bukisa, Suite 101, eHow among others. An online writer can also earn a significant amount of residual income through Google Adsense programs or becoming an Amazon Affiliate.
Multilevel Marketing
Multilevel marketing firms owe their popularity to the concept of working anytime one wants while enjoying the luxury of time. As a business opportunity, multilevel marketing is a lucrative proposition especially if one has a huge personal network where the product, service or the company itself can be introduced. Multilevel marketing involves a process of building selling and reselling teams called downline to which a great portion of the income is derived.
Copyrighted/Patented Materials
An artist, writer or inventor can also profit and generate residual income through their copyrighted works. For artists, their creations can be sold to a production company and generate royalties as long as the creation remains active in the market. For writers, they can earn from reprint rights and non-exclusive purchases while for inventors they can sell their patent to a large firm and earn from the production output of the patented invention.
Rental Properties
Renting out real properties is another great way to earn residual income. Once the rental property is set, there are little or no initial cost that is needed in order to maintain the asset. Similarly, the moment it's rented out, the owner can immediately earn residual income from monthly rental payments and other fees.
