3 Good Sources of Passive Income

For many people, it is a very appealing prospect to attain financial freedom. Many take it very seriously, working on it so hard in order to finally be financially free – that is, not worrying about lacking money regardless of the situation they’d find themselves in. Some people have achieved this by working hard, then making an investment so as to start earning passive income.

We’ve discussed passive income in the past, but for those who haven’t been around long yet, here’s a recap: Passive, otherwise known as residual income, is the money you earn without actively participating in the moneymaking process. These often require big investments at first, followed by periodic costs. If you would like to earn your income passively, here are some good sources:

Write a Book

If you have the talent to write and compose a story, then you can earn your income passively from books you’ve written. You can write a novel or invest on a ghost writer who will write some literature in your name. The reason behind this is the fact that the named author gets paid by the publisher some royalties aside from all the earnings that you make from the sales of your book.

Royalties are small, often a chunk of the money that the publisher receives for every book sold. This is paid to you long after you have received your initial payment. This is because the money you have first received is nothing more than an advance payment for the money that the book is projected to make. This will be repaid through your royalties. After your royalties have paid for your advance fee, you can start receiving royalties from the publisher. It’s not really a short process, but it’s definitely worth the wait.

Rent a Room in Your House

If you have an unused room in your house, you can rent it out as a small studio, apartment, or office. Rents are a great way to earn money, especially if your property is priced at a good value. Your capital will only be a part of the house that you own, and all the monthly expense is covered in the bills that you pay. You don’t even need to do so much work to earn from your property, just sit back and make sure that whoever rents it pays up in time.

Affiliate Marketing

You may also engage in affiliate marketing. For those who do not know, this is basically a form of online marketing where you get rewarded for the traffic or every single customer that you have brought into the business that you are affiliated with. What’s more, you are not obligated to actively do the marketing. If you have an active blog with a good amount of followers, you can simply have an advertisement linking to the business that you are promoting displayed somewhere in your site.

What we’ve listed here are all great ways to earn some passive income. These can make you earn money practically doing little to no work at all.

More Work From Home Posts

  1. An Overview of Residual Income
  2. How to Earn Money from Home: Affiliate Marketing
  3. Great Websites Where You can Earn Extra Income
  4. Finding Success with an Affiliate Marketing Job

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