InsaneJournal

What is Residual Income?

Most people wish they could work less and earn more. They tire of working at a job that requires extra time without the handsome payout. Perhaps you have wished at one point or another how you can achieve a lucrative income without overworking yourself. Residual income may be the answer that you, and others who have ever wanted a job or career to work for them, have been looking for.
In layman’s terms residual income is often referred to as passive income, or the means of earning a fair or above fair amount of money without a lot of work. There are a number of careers that already employ this concept with much success that you may not even be aware of, until now.
Actors, artists, and musicians earn residual income. The initial movie they make, song  they record and distribute, or painting that gets created earns them money every time one is resold or reproduced. A band or musician will earn money on the records they sell long after the first one is purchased. For every book an author writes and sells, money from that book is earned years after it is published.
However, most people earn a residual income by participating in affiliate programs and multilevel marketing positions (know anyone who recruits people to sell under them? If so, they make a residual income off every sale that person makes). It’s not a new concept for people to want an income that will work for them rather than working for the income.
If you’ve ever created something for sale such as an ebook, a video, photo or painting and sold it repeatedly, you have created a residual income for yourself. Before you punch the clock on the next overtime shift, think of all the passive income opportunities available to you.