I’ve been busy lately with a bunch of tasks in my home office and spend­ing time with my kid. Now that I have some free time, I decided to check up on my mail­ing list, and I was sort of sur­prised to find that thou­sands of you have joined it!

I believe many of you found me through TheSGRProgram.com which is great, but now I have a slight problem.

You see, with so many of you cur­rently in a list that is rapidly grow­ing, it is not easy for me to guess what your learn­ing needs are.

It would be great if you can tell me what you want to learn, so I can bet­ter help you.

Hav­ing the right wealth mind­set is obvi­ously the #1 crit­i­cal foun­da­tion for finan­cial suc­cess, and The Sci­ence of Get­ting Rich is the best per­sonal devel­op­ment pro­gram out there to help you achieve that.

How­ever, some of you have sent me great ques­tions on how you can take things to the next level to begin gen­er­at­ing actual income.

Now, there are a num­ber of areas I can share my exper­tise in or inter­view experts about. Which one would you like me to share some­thing on?

1. Gen­er­at­ing income with a net­work mar­ket­ing business?
2. Online affil­i­ate marketing?
3. Mak­ing money with real-estate investments?
4. Start­ing a coach­ing or con­sult­ing business?
5. Or would you sim­ply like more infor­ma­tion to help you achieve the right wealth mindset?

Please leave your answers and sug­ges­tions in the com­ments section.

Thanks, and have a great week­end.

It’s everyone’s dream at some point or another. To cre­ate some­thing so amaz­ing you just live off the licens­ing fees or roy­al­ties with­out hav­ing to lift a fin­ger. Instead of clock­ing in your hours, you’re cruis­ing on your yacht off the coast of Monaco.

Sound too good to be true? For most peo­ple it is, but not you. Because you’ve already taken the first step by telling your­self you will live off resid­ual income and not waste your time slav­ing away for some­one else.

So if you’re cre­ative,  an inven­tor at heart, or even just good at repack­ag­ing an idea, you may want to look into this resid­ual income strat­egy. This arti­cle below gives you the pros, cons, and hows to cre­at­ing a prod­uct that will gen­er­ate you a prof­itable income stream.

“Cre­ate Prod­ucts For Income That’s Pas­sive And Massive

Ever have an idea to fix a prob­lem or sur­mount a chal­lenge and then see that very same prod­uct in a store a few years later?

And you think, “Hey, they stole my idea!”

Chances are, unless your tele­pathic pow­ers are fairly high-level, the inven­tor didn’t steal your idea. He or she just acted on the same con­cept that was float­ing around in the col­lec­tive con­scious. The dif­fer­ence is action.

If you have seen your ideas repro­duced later by other inven­tors, don’t be dis­cour­aged. In fact, you should be encour­aged. Here’s why:

Cor­rectly iden­ti­fy­ing needs and solu­tions is a good sign that you can be an inven­tor or a prod­uct devel­oper. To take that next step, you need to learn how to intro­duce your prod­uct into mar­ket. There are pri­mar­ily two ways to accom­plish this. You can either invent, pro­duce, and sell the prod­uct your­self; or, you can license the inven­tion to some­one else and col­lect a roy­alty, a per­cent­age of the sale of that product.

Most inven­tors pre­fer that lat­ter, since it’s more hands-off and inven­tors like to keep their “hands on” new ideas. It’s another form of resid­ual income that will help you secure your finan­cial freedom.

Click here to con­tinue reading »

Hey, I found this great arti­cle that gives an intro­duc­tion to the types of pas­sive income, the taxes that cover it, and some resid­ual income opportunities.

It’s a great read espe­cially if you’re new to pas­sive income. I hope you find this arti­cle beneficial.

Intro­duc­tion to Passive Income

How to Make Money By Cre­at­ing Pas­sive Income

The eas­i­est way to gain finan­cial inde­pen­dence is to recon­fig­ure your life so that a sub­stan­tial por­tion of your income is not actively earned by your labor. Instead, it must come from what those in finance call pas­sive income. In fact, the idea of pas­sive income is closely related to the Berk­shire Hath­away model, which I explain in an ear­lier feature.

The basic idea of pas­sive income is that it is money received with lit­tle or no effort required to main­tain the flow of income once the ini­tial work has been done. Some com­mon exam­ples of pas­sive income are:

• Rent from real estate properties
• Patent roy­al­ties for an invention
• Trade­mark licens­ing fees for char­ac­ters or brands you’ve created
• Roy­al­ties from books, songs, pub­li­ca­tions, or other orig­i­nal works
• Prof­its from busi­nesses in which you have lit­tle or no day-to-day role or responsibility
• Earn­ings from Inter­net adver­tise­ments in a blog or on a web­site you own
• Div­i­dends from stocks, REITs, equity mutual funds, or other equity securities
• Inter­est from own­ing bonds, cer­tifi­cates of deposit, other other cash and cash equivalents
• Pen­sions
• Resid­ual income for a sales per­son on accounts that are typ­i­cally renewed auto­mat­i­cally such as a sport­ing goods rep­re­sen­ta­tive that earns a com­mis­sion on his accounts, bring­ing in a few thou­sand dol­lars per store per year for sim­ply ser­vic­ing the cus­tomers once they have been opened

Click here to read more »

With the advent of blogs and con­tent sites, many peo­ple have been won­der­ing what’s the best way to gain resid­ual income through writing.

So if you’re think­ing about writ­ing your way to resid­ual income, I def­i­nitely rec­om­mend giv­ing this arti­cle a read.

(source)

Agree to Dis­agree: Resid­ual Income and Con­tent Sites, Angela’s Side

This blog post and the one directly below it are a debate of sorts on con­tent pro­duc­tion sites and resid­ual income for free­lance writ­ers. You may want to begin with my side of the resid­ual income debate, which appears below, as it explains exactly what we’re talk­ing about.

I want to thank Angela Eng­land for this guest post. Angela is an accom­plished, vet­eran free­lance writer with cred­its in sev­eral mag­a­zines such as Moth­er­ing, not to men­tion a cache of con­tent arti­cles that pay her mort­gage every month! Be sure to visit her biog­ra­phy page and her web­site.

Angela’s Side

As an expe­ri­enced web con­tent writer, I will be the first to say this style of writ­ing is not for every­one. How­ever, when writ­ers are care­ful to select a web­site to write for that matches their writ­ing style and needs, free­lance writ­ers can cre­ate a healthy resid­ual income through web con­tent writ­ing. It may seem like a gam­ble to some, but a bit of research ahead of time can turn that gam­ble into a cal­cu­lated risk.

The key is to know what you’re get­ting your­self into as a writer, since both won­der­ful and hor­ri­ble sites exist — and every­thing in between. Free­lance writ­ers who want the web to sup­ple­ment their writ­ing income need to find out what a web­site will pay, what the edi­to­r­ial over­sights are and, most impor­tantly, what rights are being given away.

Click here to read more »

Gen­er­at­ing pas­sive income can be dif­fi­cult at first but of the 3 major types of income (earned, port­fo­lio, and pas­sive) it is the most steady.

With earned income you only get paid if you work. But what hap­pens when you’re laid off or fired? With port­fo­lio income, you would be invest­ing in future, bonds, or stocks. Sadly, the aver­age return on the stock mar­ket is 8%.  And there’s always a chance that the mar­ket will crash and head into a recession.

That’s why pas­sive income is becom­ing more and more pop­u­lar. It is robust and offers a very steady income stream.

Here are 10 ideas that can get the ball rolling for you. Let me know what you think about them.

(source)

Pas­sive Income Ideas

1. Rental Prop­erty
2. Write some soft­ware
3. Pub­lish some­thing
4. Become a part­ner with a busi­ness
5. Invent some­thing and patent it
6. Join a net­work mar­ket­ing busi­ness (one with a good train­ing pro­gram)
7. Write and sell an e-book online
8. Build a port­fo­lio of pho­tos to sell
9. Cre­ate a prod­uct and sell it through affil­i­ates
10. Develop a busi­ness idea and out­source every­thing possible

Click here to con­tinue reading »

I’ve men­tioned the use of roy­al­ties to cre­ate resid­ual income streams before, but I found this arti­cle that men­tions a few more ways to bring in the dough.

This list really helps if you tend to be on the cre­ative side. There is no rea­son for you to be a starv­ing artist at all. So have fun and make money at the same time.

How to Cre­ate Sources of Resid­ual Income

In this tough econ­omy it seems almost every­one is look­ing for ways to sup­ple­ment their income. With more and more peo­ple los­ing their jobs and the cost of liv­ing increas­ing, many folks are turn­ing to the inter­net to seek sources of resid­ual income. For those of you who aren’t famil­iar with resid­ual income — this is a source of pas­sive income that comes keeps rolling in long after you have put in the ini­tial effort. Pre­vi­ously, only actors and authors earned “resid­u­als” for their work, but the inter­net has changed all of that and there are now many ways to make money online and cre­ate resid­ual income.

Instruc­tions

1. Sell Your Pho­tographs Online: If you have some basic pho­tog­ra­phy skills and have a good eye for cre­ative and unique shots, then you should con­sider sell­ing your images on some of the var­i­ous micro­s­tock pho­tog­ra­phy web­sites. You can sell the same images over and over again and cre­ate a con­sis­tent flow of resid­ual income. The more images you have in your port­fo­lio, the more money you can make.
2. Sell Your Writ­ing Online: If you are a free­lance writer or even if you just dab­ble in cre­ative writ­ing, you can sign up for a mul­ti­tude of con­tent web­sites that allow you to sell your arti­cles online. Many of these con­tent web­sites allow you to sell your arti­cles for usage, which means they can sell over and over again to inter­ested par­ties. In some cases, once you have sold a good amount of arti­cles on these con­tent web­sites — you will begin to get pri­vate requests for your writ­ing and this will allow you to charge higher rates.

Click here to read more »

I’m just fol­low­ing up on my post about blog­ging for resid­ual income.  Here’s a few more tips and tricks on how to get started.

Blog­ging is fun and prof­itable.  You don’t even have to be a great writer, just so long as you’re pas­sion­ate about a subject.

Writ­ing Your Way Into Resid­ual Income

Do you like to write? Do you know HTML? Can you upload files? That’s pretty much all it takes to earn resid­ual income on the inter­net. Any addi­tional skills learned along the way will only be a plus. The inter­net has a host of infor­ma­tion and will teach you every­thing you need to know to make money and become suc­cess­ful at it.

Let’s take this a step at a time:

THE WRITING PROCESS:

If you like to write, write a few arti­cles. What to write about? Well, here’s my the­ory. There are four areas to think about to help you begin writing:

1. Write about what you know: In my case, I have over 20 years of com­mer­cial insur­ance expe­ri­ence. I’ve writ­ten sev­eral arti­cles about insur­ance. No, it’s not my favorite topic, but it’s what I know and I have earned resid­ual income from that knowledge.

2. Write about what you want to know: I want to know more about health, fit­ness and healthy eat­ing so I write arti­cles about it. I research, learn and share my knowl­edge with any­one who is will­ing to read it.

3. Write about what you do: I’m an at-home mom and free­lance writer. I write about what I do. I write about the way I save money and share tips on fru­gal liv­ing and house­clean­ing and other such topics.

Click here to con­tinue reading »

Some of you may be think­ing, “how does one make any pas­sive income as a blogger?”

Well it’s pretty sim­ple. By writ­ing about what you love and engag­ing in a niche you enjoy being in, you can make huge adver­tis­ing deals and do affil­i­ate mar­ket­ing.  If you’re new to this idea, check out this arti­cle.  It gives you the basics on how blog­ging can serve as a pas­sive income stream for you.

Blog­ging for Income — A Pas­sive Income?

Last week two posts popped up in my RSS feeds with the words ‘pas­sive income‘ in their headings.

BJ asked — So Where’s the Pas­sive Income? and Dave writes about Grow­ing a blog or blogs as a source of pas­sive income.

The idea of pas­sive income is obvi­ously one that many peo­ple strive for — and it’s a term that I’ve heard used many times to describe online income streams — includ­ing blogging.

Unfor­tu­nately I wouldn’t use the term pas­sive income to describe blog­ging for income.

While there are a few aspects which could be described as pas­sive — the over­all expe­ri­ence that I’ve had is any­thing but passive.

Where is Blog­ging for Income ‘Passive’?

Archives — Per­haps the main area of where blog­ging has an ele­ment of ‘pas­siv­ity’ to it in how it can earn an income is when it comes to your archives.

I’ve been blog­ging now for close to 4 years and in that time would have pub­lished over 20,000 posts across my own blogs. While the writ­ing of these posts is any­thing but pas­sive (more on that later) the great thing about it is that even after those posts drop off the front page of a blog they con­tinue to have earn­ing potential.

Click here to con­tinue reading »

Here’s a quick list of over 40 income oppor­tu­ni­ties you might want to con­sider.  Some are set up per­fectly for auto­mated income and they often incor­po­rate things that you love to do.

This list also gives a great direc­tory of 20 alter­na­tive income resources you can check out.  I’ve found this list to be really help­ful and I hope you do too.

(source)

40+ Alter­na­tive Income Ideas and Resources

When I wrote Build­ing, Diver­si­fy­ing, and Shift­ing Your Income Streams, there was an impor­tant ele­ment that I left out. That ele­ment was some prac­ti­cal real life ideas about how you can start build­ing alter­na­tive income streams today. It is worth not­ing that not all of these are pas­sive income ideas, so you will actu­ally have to actively work for these income streams to grow.

In com­pil­ing this list, I did my best to avoid any sort of scams, and stay with prac­ti­cal ideas that work. I have not used all of these ideas, but I have used, or am using, many in this list.

Also, it’s impor­tant to note that some ideas may be worth­while for you, some may not, depend­ing on your finan­cial situation.

Alter­na­tive Income Ideas:

In addi­tion to basic ideas such as start­ing a busi­ness, get­ting a sec­ond job, and learn­ing how to invest here are money mak­ing ideas you can try:

1. Build a CD Lad­der using high yield cer­tifi­cates of deposit.
2. Switch to higher inter­est sav­ings account.
3. Peer to peer lend­ing on var­i­ous social lend­ing networks.

Click here to con­tinue reading »

I know a lot of entre­pre­neurs out there have a hard time set­ting up their busi­ness and mak­ing money but this is where pas­sive income comes into play.

Pas­sive income can give you enough cash flow so that you will have time and the mon­e­tary means to focus on what you want to do, in other words, set­ting up your dream business.

Have a look at this arti­cle and I hope you find it beneficial.

Bet­ter Boot­strap­ping — The Impor­tance of Income Automation

I’m going to share a rare lit­tle bit of my per­sonal his­tory here in the hopes that I can help save you from some of the dif­fi­culty I went through. I’m going to talk about boot­strap­ping, and how you can do it bet­ter, right from the start.

When I left my last com­pany about five years ago and was fig­ur­ing out what I wanted to do next, I did what most boot­strap entre­pre­neurs do… I started the busi­ness and started try­ing to fig­ure out how I was going to most imme­di­ately start gen­er­at­ing income from the busi­ness. At the same time, I was try­ing to do some easier-to-obtain con­sult­ing in other areas to keep the cash flow going so that I could work on the main business.

Of course, the prob­lem with that is that I was try­ing to mar­ket and build sev­eral dif­fer­ent busi­nesses, and the sup­ple­men­tal busi­nesses weren’t really set­ting up any­thing that was going to increase my abil­ity to focus on the pri­mary busi­ness. Thank good­ness I had the fore­sight to sign up as an About.com Guide, but I kick myself for not doing more with it at the outset.

Click here to read more »