There is an amazing opportunity now open for making a residual income online. There are so many options but to get a basic understanding of how a residual income works let us look at a simple one sentence definition:
A residual income occurs when you put out the effort once but are paid again and again thereafter.
Basically if you are able to set up a system that continues to work for you even though you do not put any extra time or money into it then you have it!
Here are some examples of ways to make a residual income online (in no particular order):
1. Write a book. Once published and on an online retail website your book, CD or the like will earn you money every time it sells.
2. Investments. A good investment can be a blessing just as a bad one can be disastrous. Always move with caution when investing.
3. Start a blog. A really good blog can be huge. Beside paying advertisers there are other great ways to make money blogging. You can even have contributing writers so that you do not have to write all the time!
4. Associate programs. Affiliate marketing is a popular way of making a residual income online. There are other associate program methods such as referrals and reseller programs as well and there has supposedly been some success in these but as always DO YOUR RESEARCH. You want to make sure that you work with a legitimate company.
This is of course not an exhaustive list of ways to make a residual income online and these methods are not necessarily easy nor are they fool proof. They may take time and energy (not to mention money) to start up, and it very well could take a little while before the income actually begins to flow. You may have to try your hand at a few before you find one that works or works for you. However once you find a viable opportunity it can mean the difference of half your current income (said figuratively since every situation is different). So do not give up if you run into a dud but do gain wisdom and experience so that next time you will be more able to discern whether or not it is worthwhile. “Nothing ventured, nothing gained” and “there is no such thing as a good get rich quick scheme” are good sayings to remember.