The Passage To Passive Income

Chapter 1: What Is Passive Income

Any income where the individual does not have to physically earn is called passive income. This of course is a very attractive way of earning an income and indeed those who are lucky enough to make a decent living this way are quite happy.


There are currently some very popular and common ways to derive passive income. Writing a new melody or song or even a jingle and the selling it as a commercial property will garner some very lucrative passive income. Opening a bank savings account, is another way which just by saving money get the individual some interest residual income though it is not that much and fluctuates often at the whim and fancy of the banking systems.


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Staring a multi level business is another way to generate passive income. There are some multi level companies that don’t require the standard work of recruiting and selling product but just to use their products. Becoming a financial product consultant is not only a good passive income source it is also a way to expand the client base.


For those with a little more money to spare, they can consider other type of investments which are likely to bring in the returns. Buying property and they letting it out helps the individual to pay for the loan thus not requiring any immediate financial commitment.


There are a lot of innovative ways to make money of the internet engine. All it takes is a little time spent to look for the legitimate business tools. One of the more popular tools include the creation of one’s own information for e-books and other sell online tools that require perhaps language changes.


On the more risky way of getting passive income would be to invest in various stocks and bonds. However the risks levels are quite high and often not worth the risks.

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(Next Lesson) Chapter 2: Using Residual Income
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