Residual income is money that is earned on a recurring basis, typically as the result of a single original action. Rather than earning an hourly wage, residual income is typically generated through an initial investment of time or money with the goal of earning continuous payments. Once the initial investment, product, or service is made, the ongoing income that is earned is generally passive in nature.
So many great tips in this big post, thanks! I think it’s so true that people should focus on the things they do well at and are interested in. And yes save, save, save in the beginning and throughout. I have several interest and dividend earning investments and am looking to expand further. Diversification is a great goal for all of us so we can avoid having all our eggs in one basket.
There are now two ways to sell on Etsy–physical and digital products. With physical products, you can either create something unique such as jewelry or buy and resell something–for example, vintage clothing. Etsy has been a great marketplace for a long time, helping creative people sell their goods. The problem is, selling physical products isn’t exactly passive income.
Viral content doesn’t just generate traffic from the top social networks. It can give you a leg up in SERPs – Search Engine Results Pages. In Google search results, for example, if you can’t rank for a high-competition keyword, you may be able to get your product featured in content from a publisher that can do so through Google News. Google News’ algorithm focuses on the content’s diversity, freshness, textual relevance to the search, and originality.
Crowdfunding, the process of pooling dollars from a large population of people to fund a larger project, has significantly increased in volume over the past several years. According to Statista, $34.4 billion was raised in the United States through crowdfunding in 2015. In 2012, this number was $2.7 billion. That number continues to trend upward as new crowdfunding options become available.
As a private lender, you can lend to anyone in your social circle. For example, many home rehabbers need access to a source of capital they can tap into very quickly in order to fund the initial purchase of their properties. You can partner with a rehabber who uses your capital for a short-term in exchange for an interest rate that is mutually agreed upon.
Thanks for the info…I kind of figured it is really not that expensive to live if you are not an extravagant person. I could definitely figure out how to funnel expenses through a part time business…I think I keep thinking along the lines that I’m going to be paying the same tax rate after retirement, but reality is you could get pretty lean and mean if one focused on it. On a scale of 1-10 with 10 being utter panic mode, how worried are you about your “pile” lasting through a 50 year retirement now that you are a couple years into it?
If you love design and you are an artistic person, selling digital products on Etsy could be a great way to earn passive income. Digital products require little maintenance, your customers will simply receive a link to download them (which means you don’t have to worry about shipping and returns handling). All you need to do is spend time upfront to create beautiful artwork! (Easy right?)
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What I did:The first two years of work in NYC was brutal. I told myself there was no way I could work on Wall St for my entire career because I’d probably die from heart failure by age 40. Having an early death in my mind willed me to save 50%+ from the first year onward and devise a CD, real estate, and stock investment distribution system for my savings every year. I thought about starting this site for at least a year before I hired someone from Craigslist to give set me up and push me forward. Hiring someone to get started is totally worth it if you are a master procrastinator. You can now learn how to start your own site with my step-by-step guide to save yourself time and money. 
Marketers and agencies commonly consider celebrities as a good influencer with endorsement work. This conception is similar to celebrity marketing. Based on a survey, 69% of company marketing department and 74% of agencies are currently working with celebrities in the UK. The celebrity types come along with their working environment. Traditional celebrities are considered as singles, dancers, actors or models. These types of public characters are continuing to be the most commonly used by company marketers. The survey found that 4 in 10 company having worked with these traditional celebrities in the prior year. However, people these years are spending more time on social media rather than traditional media such as TV. The researchers also claim that customers are not firmly believed celebrities are effectively influential.[43][44]
Almost all of these ideas require starting a personal blog or website. But the great thing about that is that it's incredibly cheap to do. We recommend using Bluehost to get started. You get a free domain name and hosting starts at just $2.95 per month - a deal that you won't find many other places online! You can afford that to start building a passive income stream.
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Whereas Kaplan, Haenlein and others reduce the role of marketers to crafting the initial viral message and seeding it, futurist and sales and marketing analyst Marc Feldman, who conducted IMT Strategies' viral marketing study in 2001,[citation needed] carves a different role for marketers which pushes the 'art' of viral marketing much closer to 'science'.[23]
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