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What The Heck Is Residual Income And Why Do I Need It?

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A lot of words like residual income, passive income, recurring income, and the like have been flying around the Internet marketing world lately. These are very important words that could mean that you will be working a lot less, and making a lot more. If that’s important to you then you need to understand it, and start creating it!

Residual income (also called passive income or recurring income) is income you work once to get and it keeps coming in on it’s own without you having to do anything else.

Of course you have to work to start it, and you have to continue to work to make it grow, but once you get it, it just keeps coming in on its own.

Here’s two real world Internet marketing examples of residual income:

Example 1:

You have a website and you charge people $10 a month to access it. You work to get 100 members which would make you $1000 a month. To make that $1000 a month you need not do anything else. As long as those people are members you get paid $1000 a month like clock work.

If you want to bump your income up to $2000 a month, you work to get another 100 people. As long as there are 200 people a month accessing your website you’ll make $2000 a month.
Example 2:

You’re an affiliate marketer promoting a software product that charges people $29 a month to access it. You make a 50% commission each month off of anyone you get to pay to use the software. Get 100 people to join and you make $1450 each month as long as all 100 people keep paying. You do nothing else once you get them to start using the software.

Again, if you want to double or triple your income you simply get more people to join.

So why is this all important?

It’s all about working less to make more money, and I don’t know about you, but I’m all for that!

Let’s take example #1 and let’s say you currently have 100 people paying you $10 a month. You worked for 1 month to get them. Let’s say the next month you don’t want to work at all. That’s okay because that $1000 is going to come in again no matter if you work or not.

Who doesn’t love that?

So, no matter what you call it… Residual income, passive income, or recurring income, you need to find something that you can use to create it.

It will allow you to make money and still have time to do the things you want to do, instead of the things you have to do!

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