Perhaps you have been wondering why some people who are children of celebrities continue to earn royalties from their parents even when they are no longer there, it is because their parents made some product that produced passive income, such as a very famous song or many songs, several albums maybe, or was a writer of a book that was very successful, or made a movie. So if you want to answer the question of what are the passive incomes, you may already have an idea.
All these things generate passive income, that is to say they pay you and continue to pay you for something you did only once, for example you wrote a novel and years after having done it they continue to pay you for that same novel.
Those are the passive income and you can also find them on the internet.
Importance of Residual Income
Imagine you are in a job, they pay you for working hours, if you are from 9 to 5 you will have to go all you’re working day every day so that they will be paid a fortnight, a week or maybe a month.
Or if you are a taxi driver you have to work to earn money if you are not working you are not making money.
Or maybe you have a store, if you don’t open it you won’t sell anything and you won’t earn money.
In all these examples you have to be present somewhere for certain hours to earn money.
But if you were a composer and your songs are being listened to on the radio, you don’t need to be somewhere for certain hours to get paid, in fact you can be on the beach, in the forest or in the jungle and every time that in some place your songs play you will be making money.
That is, you have more freedom if you earn residual income, than if you earned linear income that are those of the other examples that I shared with you,
But not only that, in a crisis they fire a lot of people and if you are an employee you also run the risk that they will run you, but if you are earning passive income that does not worry you, that is to say the passive income as well as freedom also give you some security economic.
And one more thing maybe in a job you spend all your time at work and you don’t have time for your family or for yourself, or to read the books that you always wanted to read.
So as you can see the importance of passive income is that they give you more freedom, more security and more time
How You Can Generate Passive Income
The first thing you should do is see what you are good at and what you like to do.
You must know yourself and investigate within yourself, to discover what things you are good at, what you like so that you can get an idea of what kind of things or products you can make to generate passive income,
Are you good at composing? So make songs register them and do everything possible for the world to know them, there are packages where you can promote your songs on different music platforms.
Are you good with stories write a book or several.
Or even you can develop a product and put it on the market, maybe some shampoo, t-shirts, soap, the opportunities are many. It is true there will be work after this, a production, but since it is in the market you will be happy seeing how people buy it while you are enjoying a good vacation.
Having several properties and charging a monthly rent for them would also be another option, that they deposit you while you are in the park with your family.
But do not think that this type of income is unattainable; there are other ways to achieve it. Network marketing systems is one of them; I only recommend that you find a company with which you vibrate well, so that you can do your thing at ease.
The internet is a tool that gives many opportunities and in the case of residual income it does not lag behind.
On the internet you can also create your product, for example a digital product that is sold while you sleep or watch streaming movies.
I repeat it, the opportunities are many, and you just have to open your mind to see them.
How Long I Need
Look at the times vary a lot depending on your product and how successful it is.
Imagine that you compose a song, register it and wait for the earnings to arrive. But in order for you to generate good profits, the song must be widely listened to, people must like it, and it must have a certain importance in the media to generate good profits. It may take some time to accomplish this.
The same happens with novels, or with a product that you want to develop so that they are sold in stores, but don’t lose patience, everything can be achieved if you set your mind to it and fight for it.
Although it is also my duty to tell you that there is residual income that comes faster than others if you work correctly.
In the internet world there are many opportunities where you can earn significant passive income in record time.
Look maybe the composer has trouble making good money for several years, but on the Internet in some businesses there are those who make money to live more than well enough in a year, there are those who make it in months.
That’s right, the internet gives us many advantages and to achieve the goals that you have set for yourself if you have set out to earn passive income, the internet is a great tool.
But if you want my consent make this fun, if you want to make money, first focus on something you like, that there is passion within you so that it is easier to develop something and also easier to work on the internet, passion is very important, and if you do so it will be more fun and more successful.
In the next section I will mention more about this about the ways in which you can generate residual income on the internet.
Passive Income on The Internet
You can make a web page of some subject that you are passionate about, if you do it in the correct way and with persistence it will reach many visitors and you can make it find advertising on your website and this advertising will generate money for you, for example from a good publication that you wrote months ago and people keep visiting it.
With YouTube videos, if you generate content that is interesting for some type of audience and you keep uploading quality content constantly you can make your videos generate you a certain amount of money, imagine making money for a video you made last year, imagine making money for several videos you made last year, wonderful truth, and that is that YouTube videos also have advertising and for each person who sees such advertising they give you a certain amount of money.
Affiliate marketing: this way of earning money is one of the best because you do not necessarily have to have a product, you can promote someone else’s product request an affiliate link and every time someone buys the product through your affiliate link you will be making money. Or you can also create your product and have others promote it for you.
These are just some examples but they can help you a lot.
Here a Free Course about Affiliate Marketing one way for earn passive income
You want to make money with passive income I recommend that you do it with something that you are passionate about.
You want this to speed up, using the internet is a good option.
If want me to give you a more specific recommendation, affiliate marketing is something you can do looking for the niche that you like the most.
Another recommendation, for this you also need work and dedication, so you have to fight and fight.
Another recommendation, when you manage to have a source of passive income, look for another and another so that you have multiple sources of passive income, because things change over time and if you are only with a single business this may fall, but if you have various businesses the other businesses will come out to help you