What are examples of residual income?

Residual income is income that one continues to receive after the completion of the income-producing work. Examples of residual income include royalties, rental/real estate income, interest and dividend income, and income from the ongoing sale of consumer goods (such as music, digital art, or books), among others.

What should I invest in for residual income?

30 Best Passive Income Ideas

  • Dividend Stocks.
  • Rental Properties.
  • High Yield Savings Accounts And Money Market Funds.
  • CD Ladders.
  • Annuities.
  • Invest Automatically In The Stock Market.
  • Invest In A REIT (Real Estate Investment Trust)
  • Invest In A Business.

What is the best way to make residual income?

10 Ways to Build Residual Income

  1. Real Estate. Investing in real estate is a strategy to earn passive income.
  2. Short-Term Rentals.
  3. Peer-to-Peer Lending.
  4. Stock-Picking.
  5. Dividend Payments.
  6. Affiliate Marketing and Other Online Earning Options.
  7. Freelancing and Independent Contract Work.
  8. Re-Sell Things on Online Marketplaces.

How do you create a recurring income?

7 Great Recurring Revenue Business Ideas

  1. Build a Membership Program for Your Business.
  2. Produce Physical Product Subscriptions.
  3. Develop a Software as a Service (SaaS) Product Offering.
  4. Become an Affiliate for Other SaaS Products.
  5. Create Service or Retainer Plans.
  6. Combine Online Membership and Physical Product Delivery.

What is an example of recurring income?

Recurring Income Examples Income from the ownership of a real estate investment property. Proceeds from renting a spare room on AirBnB. Investing in loans through a platform like Lending Club or Prosper. Dividends earned from owning stock in a company.

What are the 5 streams of income?

Different Streams of Income

  • Earned Income – This is your day job and most people’s primary source of income.
  • Business Income – You own a business.
  • Interest Income – This is income you make from lending your money out.
  • Dividend Income – This is money that’s distributed as a result of owning shares of a company.