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"Earned Income vs Passive Income vs Portfolio Income: A Comparison - Just Ask Ben 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 word residual income really has two different definitions. First, residual income can be considered as the amount of money you've left over after accounting for debts, normally on a monthly basis. Basically, its own expendable income.For a 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 when you saved enough to provide retirement a shot, youd be taking a huge gamble. Without residual income, the only thing youd have to reside on is the money you've saved. Once it's gone, its own gone.But, by sticking your own money into a 401(k) or other retirement account, your stash doesnt just sit there; 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 flows that generate money while you sleep, youll build wealth quicker and diversify the manners youre able to make money that helps protect you from the reduction of any one individual income stream.Now, dont be fooled; passive income doesnt mean easy income. In many cases, it takes a whole 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 you can.

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

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

Passive income is money you earn out of a solution or an investment where you dont have to do any more work after you put this 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 that you could ever reach financial independence.

Im going to discuss my seven popular passive income sources, income flows I use go to make money each month. Now Im not going to sugar coat this, a few of these are going to take work but may mean thousands a month you can count on.

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Im going to begin with the easy passive income ideas, the ones which you can start making money on immediately and will operate through to the ones youll make the maximum money on as we proceed through the list so be sure to stick around to catch those last couple of passive income plans. .

Our first facet holiday idea is with deal websites like Swagbucks and TopCashBack. Now these are actually two different types of passive income ideas since theyre different types of websites.

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Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch movies and try out free product samples. Doing each of these, you earn points that are usually convertible to one hundred points for a buck.

Now this isnt something thats going to make you rich but you can earn some legit money for less than an hour of the time. Swagbucks users 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 so this isnt something thats going to make you rich. Youd have to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks though is you can do it when youre doing something else so I flip through surveys and other stuff while I'm cooking dinner or flipping channels. .