Affiliate Marketing – Affiliate marketing is the practice of partnering with a company (becoming their affiliate) to receive a commission on a product. This method of generating income works the best for those with blogs and websites. Even then, it takes a long time to build up before it becomes passive. If you want to get started with affiliate marketing check out this great list of affiliate marketing programs.
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Right now we have five, but we’ll probably cut that down to four at ER next year. Current: W-2, business income, rental income, interest on personal loan plus accounts, dividends and cap gains. Future: subtract W-2 for the most part, not counting little “fun work” projects. If we were looking to live the high life, we might aim for the millionaire’s seven sources, but we feel like our four sources will let us live very comfortably with plenty of contingency plans in place. 🙂
Passive income is attractive because it frees up your time so you can focus on the things you actually enjoy. A highly successful doctor, lawyer, or publicist, for instance, cannot “inventory” their profits. If they want to earn the same amount of money and enjoy the same lifestyle year after year, they must continue to work the same number of hours at the same pay rate—or more, to keep up with inflation. Although such a career can provide a very comfortable lifestyle, it requires far too much sacrifice unless you truly enjoy the daily grind of your chosen profession.
Marin County had by far the highest per capita income during that period ($58,004); its per capita income was almost $10,000 higher than San Francisco County, which ranked second in that regard. Of the ten counties in California with the highest per capita income, all but Orange were in Northern California, and all but three are located in the San Francisco Bay Area. Of the three not located there, two are smaller counties located in the Sacramento metropolitan area. Orange County's per capita income ranks last among these ten, and its per capita income is about $5,000 more than that of the state.
There are a lot of article sites out there that share revenue, but my favorite (and it’s where I earn most of my article writing income) is InfoBarrel, which you’re very familiar with if you’ve been following my blog for awhile. If you’re up for a very ambitious challenge, you can read about the one I wrote for earning $2,000+ per month with article writing. The top InfoBarrel writers currently earn at least $2,000 per month.
Taking Paid Surveys at Home: I was skeptical, at first, until my 17 year old son starting making money at home taking paid surveys. Companies desperately want your opinion, and they are willing to pay for it. The trick, of course, is knowing where to find the paid surveys that pay the best. One of the most popular and legitimate survey sites is Swagbucks. Not only can you make money taking surveys, but you can also make money by watching videos and even surfing the net. They also offer significant cash back for online shopping.
For a person working for a wage, their source of income is their job, or their labor (aka their time that they sell to someone). But you can own a house, and rent it out, and when your renters pay you renter every month, the source of that income check is your rental property, or your house. It would just be called rental income. If you have money in the bank in an account that pays interest, those interest payments are another source of income. We can say the source is interest payments, or we can identify the asset that is generating rent, and say your money in the bank that is generating “rent” (aka interest) is your source of income.