A residual income stream is one of the most powerful models of income. Earning a residual income means that you have a source of income that you are no longer putting effort into. It is usually a one time effort and if you have put in enough of it the right way, it is going to pay off.
There are many ways to earn this type of income. These ways are both online and offline. Here I have chosen to discuss the online ways of earning residual income for several different reasons. It is one of the most hip and happening industries and is currently an expanding job and business opportunity market.
Offline sources of residual income are not paying off as well as they used to. For example, the stock market and real estate are struggling in today’s economy. These have both been pretty solid sources of long term, recurring income, but right now they are in a slump. They are mostly long term investments and require a large amount of capital.
There are many online ways to earn a residual income but only two of them are the most workable and the most reliable. These two ways are content writing and affiliate marketing.
Content writing can be adopted by anyone who can write well. The internet is constantly expanding and the existing websites need a lot of new content almost every day. It is said that the content writers never run out of a job. There are websites which pay for an article once only. They take all the rights of the article after the one time payment. That is of course not a source of recurring income. But there are other websites which will pay for your article as many times as it is going to be read. This is residual income. If you are a writer then you can register at various such websites to get your articles published. (Some websites include only the U.S. citizens in such programs.)
The second method is affiliate marketing. This too can be made to generate a residual income, provided that one adopts the right marketing strategies. For example, if you have once made a catchy advertisement then you will keep on getting commission as long as the sales are constantly happening. There are various models of affiliate marketing to choose from. To be a part of the affiliate program, you will have to be very good at marketing, web page development and Google AdSense, etc.
If you want top generate a residual income stream, go for either of these two programs. I wish you all the best.