Sunday, February 11, 2007

The Ins And Outs Of Passive Residual Income

Copyright © Michael Laleye

Almost everyone who is interested in online business or
working at home has heard of residual income. They
understand what it is and how to make it. There is another
form of residual income - passive residual income that
people may not be so familiar with. It is like residual
income and many might actually already be making passive
residual income and not even know it. However, it can help
to become familiar with the ins and outs of passive residual
income, if not to understand it, just to learn how to make
their passive residual income opportunity better.

Residual income is income that is earned over and over for
completing a task once. Passive residual income is residual
income that comes form investments. For example, real
estate is a residual income. If a person buys an apartment
complex they then rent out the apartment units and earn a
passive residual income on their initial real estate
investment in the form of rent every month. With residual
income the investment is more about time, not money, so
passive residual income is a lot easier to start and
requires minimal time, which is why it is called passive.

Passive residual income offers many benefits. For a person
who has the money to invest, they can build a nice income
with very little work up front and almost no more work after
that. All it takes is a little monitoring. It is also very
flexible. Most sources of passive residual income can be
handled form anywhere. A person does not even need an
office. It also provides a person with a lot of freedom.
Since they no longer have to spend hours a day working to
make an income, they can now spend their time they way they
want to.

They are free to enjoy life and actually spend the
money the work for, instated of spending their time working
with little or no free time to actually enjoy the fruits of
their labor. It is also possible for a person to have more
than one passive residual income opportunity. Since they do
not have to put in a lot of work, they can invest in a few
different projects and earn money from all of them at the
same time. This is what is called multiple streams of
income and is one of the top ways to earning good money.
Overall, passive residual income just allows a person to do
what they love, to be able to provide for their family and
themselves without having to work themselves crazy.

When it comes to earning money, many people are turning to
the benefits of residual income. It just makes sense. If a
person is lucky enough to have the ability to try a passive
residual income then they will get even more benefits. It
is something that takes the focus of life off of making
money and puts it on enjoying life.

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