Passive Residual Income to Earn More and Work Less

July 11th, 2007 | stacey | Financial Freedom, Financial Independence, Passive Income, Passive Income Opportunity, Residual Income, Residual Income Opportunity

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Passive residual income is an opportunity to live your dream – earn more money while you work less hours. Wouldn’t you like to take off when you want and call your salary? Creating passive income makes this type of fantasy job a reality. For example, when you are directly involved in the the work that generates the cash flow, it limits how much you can actually earn.

Passive income does not involve direct work or involvement on an ongoing basis. Creative works, inventions and real estate are all examples of passive income – they businesses generate income every month merely for existing. Passive income needs effort to set up the situation, but once it is established you earn money without effort.

Residual income is earned over time from work you do once. For example, insurance agents get an annual commission when policies are renewed. You may decide to sell a service or ebook on a website. Often the work to maintain residual income situations is simple and may be delegated to an assistant or helper. An insurance agent may ask an office employee to call customers to remind them their insurance deadline is coming up. If an exercise instructor also produced her own video, the receptionist can sell the tapes to customers at the desk.

By setting up passive residual income, you are investing in an ongoing business situation that will allow you to work less and earn more money over time for total financial freedom. Passive income opportunities almost take care of themselves while you enjoy life on the money you quietly earn and experience financial freedom.