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4 Ways to Generate Unlimited Residual Income

Updated on August 15, 2011

We are all used to the "per hour" paradigm when it comes to making a living. We might think it a part of the 'natural order' that we have to slave at work for 8 (or more) hours a day in order to earn our wages. But is this truly the way of the world? In fact, many people make what's called "residual income," also known as passive income. With this kind of income, you put in the work ahead of time and reap the benefits for years to come. If you develop your income streams well enough, you'll produce unlimited residual income that will allow you to live the life you've always dreamed of.

To help you begin your residual income journey, here are four great ways to earn continually accruing income that will hit your bank account every month.

Method 1: Make money online.

This method is all the rage today, as the prospect of making money from the comfort of your home computer is almost too much to resist. However, it's not as easy as some may say, otherwise everyone would be doing it and no one would be making money.

To get involved in making money online, you should learn the ins and outs of the business - websites, blogs, advertising, affiliate programs, and the like. If you need guidance, there are plenty of simple resources out there that you can access and use that will help guide you on your way. For example, you may find this make money online product useful to help you begin (or reinvent) your residual income journey - go ahead and check it out.

Method 2: Write your own content.

If you are a writer, you can make a handy chunk of change - and even a living - by publishing your content online. There has been a revolution of sorts lately, in that millions of writers can find a platform to get their writing out while simultaneously making money from the material. While many take up front payments, the prospect of recurring residual income - earned through advertising revenue - is quite alluring. There are many sites and programs to do this, so pick the one that works best with your interests and goals.

Method 3: Investments.

This is the traditional source of passive (or residual) income that many people rely on. Build a balanced portfolio of stocks, bonds, and other investments. However, the big disadvantages of this method are two: first, you need lots of knowledge to do this right, and you need start up capital. The above two ideas don't need this pre-investment, and thus might be easier for the newbie. Still, this method shouldn't be ignored.

Method 4: Get involved in real estate and other offline ventures.

This is another popular residual income generator. Owning homes and apartments - and renting them out to those who need rooms - is a great way to earn revenue each and every month. This too requires a lot of start up capital, so it may not be the best route for someone starting out. When your revenue streams mature, however, you may want to think about adding this option to your portfolio of earners.

The Verdict

Overall, I recommend going the make money online route - you won't regret it. Find a program that will get you started (like this one) and dive right in.

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