Earning Passive Residual Income Versus Leveraged Income

March 11th, 2008 | stacey | Financial Freedom, Financial Independence, Multiple Streams of Income, Passive Income, Passive Income Online, Passive Income Opportunity, Residual Income, Residual Income Online, Residual Income Opportunity

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Earning passive residual income and leveraged income does not rely on the number of hours you work or selling your services to clients. Rather, income is generated through other sources that involve working once and letting these opportunities continue to earn money for you.

Consider ways to earn passive income. If you are a salesperson or insurance agent, you will earn a repeated commission each time a person buys something else or renews their policy. Teachers can sell an instructional video, such as dance or martial arts, where they teach. Consultants may create a workbook and sell it to people learning various skills such as financial management or marketing. Sometimes freelance artists, writers and photographers sell their works through a clearinghouse to earn royalties when someone buys one of their creations. Once the work is done, people earning passive income continue to reap earnings every time the goods or services are sold.

Leveraged income uses work done by other people to create multiple streams of income for you. Ways to earn leveraged income include network marketing with a downline earning commissions, a ebook creator who sells their work through affiliates, a general contractor with sub-contractors doing work and franchising.

By having both passive residual income and leveraged income businesses, you can earn multiple streams of income for the financial freedom you really want.