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Your paycheck isn't the only way to generate money! Have a look at our extensive collection of great passive income ideas to start making money on the side right away.

Fantastic Passive Income Ideas is for entertainment and reference purposes only. The information presented is your opinion of the author only and should not be interpreted as specific advice or recommendations on your financial situation. Always consult a true professional before making any financial decisions.

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In case you don't want to continue working 50 or more hours each week for the rest of your life, consider building your sources of passive income. Until you can remove yourself by being involved in doing the job that generates income, there is going to be a limit to how much you can earn, and it can increase only very slowly. .

Passive income, on the other hand, is income that does not require your direct involvement. Rental properties, royalties on an invention or creative work, and network marketing are common cases.

If you want to earn more, work less, and have a comfortable retirement, it's important to start creating passive income flows. Whether you're just starting your business, or you have been running it a while, the sooner you start thinking about how you're going to shift your business design to create more passive income, the sooner you can attain personal and financial freedom. .

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There are two basic types of passive income and a third sort of income which, while not passive, still is an integral strategy for earning more and working less.

An insurance agent who gets a commission annually when a client renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder merchandise every great site month.An aerobics instructor who creates a movie and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his pictures. .

There are many different strategies to generate residual income over a wide variety of businesses. It may be recurring income from the same clients or the earnings of a product to new clients. It could More Help require no personal involvement in any respect, like an e-book offered on a web site, or it may require some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

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Note that this is different from recurring income which may still need your involvement to earn your income. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work which restricts on your earning ability based on your own personal production capacity. .

This leverages the work of other folks to create income for you. Some examples of leveraged income include:

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An e-book writer selling her e-book through affiliates who promote the product.A network marketer who assembles a downline and receives commissions on the sales generated by people in his downline.A general contractor who makes a profit margin on the work done by subcontractors.Franchising your business model into other entrepreneurs (the supreme leveraged income). .

Again, there are many different models in many different businesses. The key is that you're making money from other people's labor, rather than mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that is even better.

This sort of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:

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Though these need your direct participation, your earning potential is much higher than if someone was paying you an immediate hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional price, and staffing prices and still have a nice chunk of change left over. .

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When it comes to making money and earning an income, as with most things I think it is important that you first attempt to educate yourself about your options and what they truly mean. For many people when they think income they think of linear kinds of income like state getting a project or selling belongings.

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