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"Earned Income vs Passive Income vs Portfolio Income: A Comparison - Just Ask Ben Exactly why". Just Ask Ben Why. 2015-06-22. Retrieved 2018-05-12.

a b "Publication 925 (2017), Passive Activity and At-Risk Rules Internal Revenue Service". www.irs.gov. Retrieved 2018-05-12.

What Is Residual IncomeIn the personal finance world, the term residual income really has two different definitions. First, residual income can be thought of as the amount of money you have left over after accounting for debts, typically on a monthly basis. Fundamentally, its own expendable income.For a more visual representation, consider this formula: Monthly Net Income Monthly Debt Residual Income.Having expendable income each month is great, but it isnt what exactly were concerned with in this piece.

Rather than earning an hourly salary, residual income is usually generated through an initial investment of time or money with the objective of earning continuous payments. Once the initial investment, product, or service is created, the ongoing income that's earned is generally passive in nature.Why If You Build Residual IncomeDeveloping residual income is an important part of building long-term wealth.

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Even if you saved enough to provide retirement a shot, youd be taking a massive gamble. Without residual income, the only thing youd have to reside on is the money you've saved. Once it's gone, its gone.But, by sticking your money into a 401(k) or other retirement account, your stash doesnt just sit ; nonetheless, it will grow and continue growing for years to come.The more residual income you can construct, the better off youll be.

By creating passive income streams which generate money while you sleep, youll build wealth quicker and diversify the manners youre able to earn money which helps protect you from the loss of any one individual income stream.Now, dont be fooled; passive income doesnt mean easy income. In many circumstances, it requires a lot of hard work with no guarantee of a return.With that said, I think its super important to build as many passive income streams as possible.

So, if that sounds like a fantastic idea to you, have a look see this page at this list of easy ways to make residual income and get started right away! .

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You can work your butt off to earn money but youll never get anywhere until you start making passive income. I make money on seven different income sources but a number of them require a good deal of work.

Passive income is money you make out of a solution or an investment where you dont need to do any more work after you put it up. That means consistent cash flow every month if youre working or not.

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Thats the only real way to financial freedom. Passive income is the only way you will be free from worrying about money and the only way you will ever achieve financial independence.

Im going to share my seven popular passive income resources, income flows I use to make money every month. Now Im not going to sugar coat this, a few of them are going to take work but may mean thousands per month you can count on.

If you want more excellent videos on making money and making your money work for you, dont forget to subscribe to this YouTube channel. Its completely free and so were growing a fantastic community. Subscribe and Join the Community.

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Im going to begin with the simple passive income thoughts, the ones you can start making money on immediately and will YOURURL.com operate through to the ones youll create the maximum money on as we proceed through the listing so be sure you stick around to grab those last few passive income strategies. .

Our very first side holiday idea is with bargain websites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts since theyre different types of sites.

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Swagbucks is a get-paid-to site so that you get paid to do things such as take polls, play video games, watch movies and try out free product samples. Doing all them, you earn points that are usually convertible to one hundred points for a dollar.

Now this isnt something thats going to make you rich but you can earn some legit money for less than an hour of your time. Swagbucks consumers have redeemed over $344 million in rewards for gift cards and Amazon rewards.

Now Ive been using Swagbucks for a little while and have found that the money works out to just under $2 an hour this isnt something thats going to make you rich. Youd need to directory operate 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks however is that you can do it when youre doing something else I flip through surveys and other things whilst I'm cooking dinner or even flipping channels. .