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

Fantastic Passive Income Ideas is for entertainment and reference purposes only. The information presented is your opinion of the writer 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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If 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 directly involved in doing the job that generates income, there's always going to be a limit to how much you can earn, and it can increase only very gradually. .

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 examples.

If you want to earn more, work less, and have a comfortable retirement, it is important to start creating passive income flows. Whether you're just starting your business, or you have been running it some time, the sooner you start thinking about how you're going to change your business model to create more passive income, the sooner you can achieve personal and financial freedom. .

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There are two basic types of passive income and a third type of income that, although not passive, still is an integral approach for earning more and working less.

An insurance agent who receives a commission every year when a customer renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder product every month.An aerobics instructor who creates a movie and sells it in the gyms where she's teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photographs available via a stock photography clearinghouse and has paid a royalty whenever someone buys one of his images. .

There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income from the very same clients or the sales of a product to new customers. It could require no personal involvement whatsoever, like an e-book sold on a web site, or it can need some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.

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Note that this is different from recurring income which may still require your involvement to earn the income. For example, a coach or consultant on a monthly retainer, or a caterer who More about the author delivers lunch every Monday into the local school board has recurring income, but it comes from recurring work that restricts on your earning ability based on your own personal production capacity. .

This frees the work of other people to make income for you. Some examples of leveraged income include:

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An e-book author selling her e-book through associates that promote the product.A network marketer who builds 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 to other entrepreneurs (the supreme leveraged income). .

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

This type of income requires your immediate 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 immediate participation, your earning potential is a lot higher than if someone was just paying you a direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional price, and staffing fees and still have a nice chunk of change left over. .

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When it comes to making money and earning his response an income, as with most things I think it is important that you first try to educate yourself about your options and what they really mean. For most people when they think income they think of linear types of income such as state getting a project or selling belongings.

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