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"Earned Income vs Passive Income vs Portfolio Income: A Comparison - Just Ask Ben Exactly 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, typically on a monthly basis. Fundamentally, its your expendable income.For a visual representation, consider this formula: Monthly Net Income Monthly Debt Residual Income.Having expendable income every 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 goal 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 Should You Build Residual IncomeDeveloping residual income is an important part of building long-term riches.

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Even if you saved enough to give retirement a shot, youd be taking a massive gamble. Without residual income, the only thing youd need to reside on is that the money you have 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 is going to grow and continue growing for many years to come.The more residual income you can construct, the better off youll be.

By creating passive income streams that generate money while you sleep, youll build wealth quicker and diversify the ways youre able to earn money that will help protect you from the loss 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 stated I think its super important to build as many passive income streams as possible.

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

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You can work your butt off Click Here to make money but youll never get anywhere until you start making passive income. I make money on seven different income sources but some of them take a good deal of work.

Passive income is money you make from a product or an investment in which you dont have to do any more work once you set it up. That means consistent cash flow each month if youre working or not.

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Thats the only true 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 achieve financial independence.

Im going to share my seven popular passive income resources, income streams I use to make money every month. Now Im not going to sugar coat this, a few of these are going to take work but will mean thousands per month you can count on.

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Im going to start with the easy passive income ideas, the ones which you can begin making money on instantly and will operate through look at this site to the ones youll make the most money on as we go through the list so be sure to stick around to grab those last few passive income strategies. .

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

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Swagbucks is a get-paid-to site so you get paid to do things like take polls, play video games, watch movies and try out free product samples. Doing all them, you earn points which are usually convertible to one hundred points for a buck.

Now this isnt something thats going to make link 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 wealthy. Youd have to work 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 take action when youre doing something else I flip through polls and other things while I'm cooking dinner or even flipping channels. .