Tuesday, April 29, 2008

What is Residual Income?

Residual income can be described as income that continues to come in even after you have already provided a product or service. It is ongoing constant income flowing into your account. The easiest way to think of residual income is “do the work once, get paid forever.” Residual income used to be limited to professions such as writers and musicians. Each time they sold a book or a CD they were paid a royalty. So basically they worked once [ofcourse good quality work] and they got paid lifetime. Now however, you can earn residual income from the comfort of your own home selling products that can have automated sales. Yes online media supports and enables you to earn a residual income.

With the internet a lot of new doors have opened in terms of making money and today only you are only limited by your imagination. You have the world available at your fingertips and you can Create Residual Income with very little effort. You don't have to work hard for years o gather any longer as long as you "work smart!”

One of the easiest ways to Create Residual Income is by joining affiliate programs with multiple tiers so that you get paid when others make money. On this page of itself you will find that I have collected some of the most trustworthy companies that can help you earn money by creating residual income. Many of them are free to join and they are all members of Better Business Bureau, I-Cop.com, International Association of Internet Entrepeneurs or other similar major organizations making sure that whatever choice you make you can feel safe that you are NOT being ripped off! Check out the various opportunities posted on the left side of this page.

Another great way to create residual income is by doing Type at Home work or Paid Survey work. You can read more about that by visiting some of the sites listed on this page this page. Check out the various opportunities posted on the left side of this page.

The beauty of residual income is that if you work hard now to create residual income you may not need to work ever again for the rest of your life as money for will flow in from the work you did once. Now, this is normally not the case as if you, say, sell memberships to a website people will cancel one day and then you will not be paid any longer for that member. So you should continue to make sales as they will add more money to the streams of residual income you already have!

Many people setting up their own home business do so with a plan to eventually replace their existing salary. Due to the regular nature of the payments, residual income is perfect for this.