Nothing is better than getting paid month after month, year after year without doing any further work than what it took in the beginning. Many people want to have income that they don’t have to continue to labor for. They all dream of the day that they can tell their bosses goodbye and head out on their trip around the world or to their retirement home. They only need to come up with that one idea or motivation to get there. There are many ways to accomplish these goals if that is their desire.
- Real Estate Investing. Purchasing property in the age of foreclosures and short sales is a great way to provide you with residual income. If you have already saved some money to assist with buying the properties that’s even better. Buy a duplex or fourplex if possible so that you can have one mortgage payment and income from the two to four residences. This also helps to shelter you from having to make all of the payments if one of the tenants moves out or is not paying the mortgage on time. You can make substantial income using this method. The more property you own, the more income you can make.
- Article Writing. There are many websites that are constantly looking for great content. Sites like Infobarrel are making some of its writer’s significant residual income. By making their articles available online and using Adsense, Chitika, and Amazon affiliates they are seeing income from $150 to $3000 per month. Even as their articles continue to mature they make additional money, making every word they type valuable.
- Niche Sites. Do you have an interesting niche that you would like make a website featuring it? If so, this could be your ticket to having income that last. Using certain keywords you can build a site around a niche that people are constantly interested in finding out more information about. Add to your site affiliates and other marketing tools and you are on your way to the vacation spots of your dreams.
- Direct Sales. Have you heard of Mary Kay or Avon? These multi-level sales and marketing companies offer great products and opportunities for people to make passive income. To make these ventures especially profitable you have to get others to sign up to sell as well. For each person that sells under you, commissions are paid to you. You continue to receive income from them and everyone that signs up after them. How’s that for residual income?
- Create an App. You may have heard the stories of people making millions of dollars with apps they have sold. One of my favorite apps is Angry Birds which has made over 100 million dollars. That is the income that dreams are made of. If you are creative and have a unique idea than writing an application may your road to riches.
To get to your early retirement or make your life a little easier you want income that keeps on giving. There are several ways to go about making money that can make these dreams a reality. You can create apps, purchase real estate, or write articles, all of which could give you residual income. Take the necessary steps to engage in opportunities that will put you on the path to never ending income.