What is a passive residual income?

A passive residual income is a form of income that does not require your direct involvement. Basically, you do the work once, and your done. You get paid on that work over and over and over again. Lets take a look at some examples.

- A author who writes a book. They write the book once and then they continue to get paid every time it sells.

- A songwriter. They write the song once and everytime it is recorded they get paid.

- An instructor. They may produce a video or manual that they can sell.

They did the work once and continue to get paid for it. But, the best way to increase that income is through leverage. Letting other people do the work for you. Lets take a look at a few examples of leveraged income.

- A contractor. They make income off the work of their sub-contractors.

- The author again. This time he or she wrote a ebook that they sell online and they are working with affiliate websites to help promote and sell that book.

- Network marketing. Create a downline and they produce income for you.

One of the best resources that I have come across to explain more about this is the book Parable of the Pipeline by Burke Hedges. Another great source about this type of income is in the book The Cashflow Quadrant by Robert Kiyosaki. To find these great books or more, search Amazon now using the convenient search box below.