Private-Income-Group


SECTION 2

A) New types of Passive Income.
The internet is a new source of passive income for some people. Listed below are some ways to earn passive income using the internet.

 

 

1. Affiliate Programs - you set up a website that directs traffic to the parent company or you sell the companies’ products. The parent company provides the products, tracks the sales and gives you a commission for each sale. The best affiliate program out there is ClickBank. There are over 10,000 products for you to choose from and the commission is high. Check out this website by Affiliate Marketing.

2. Information Products - the market on the internet is huge. There are so many types of people (or buyers). There is bound to be a buyer for everything that you can think of that you can sell. The web is great place to create an ebook that explains 'How to" information ie How to start an online business, How to impress a girl, anything that makes life easier for people. (The link below will take you to an example website)

3. Creating software products - if you have a good idea for a software product that will help people do something faster, easier or teach them something, then you may have a winner. (The link below will take you to an example website)

I have an accountant friend. He created an accounting software and markets it as a shareware. He is now makes a nice passive income each month from the annual support fee donations from his users. And his costs is initial investment of time, effort and money.

4. Advertising commissions -if your website attracts high traffic, you can offer to place a banner or link on your site for a fee that you collect each month. You set it up once, then collect the passive residual income.

  1. Newsletters,or ezines - offer advertising space in your ezine. The greater number of subscribers you have the more you can charge every time you publish.

  2. eBooks - offer advertising space in your ebook. Give the ebook away for free or even place links in it from affiliate programs you recommend.

  3. Google AdSense - place Google Ads on your web site. When someone clicks on the ad, you get a commission for every click. If you have 100s or 1000s of pages on your site, you can earn a substantial monthly income.


5. Referrals - create a network of people that offer services or products related to your business. Ask for a commission every time you refer someone. For example as a web designer, I sometimes refer clients to graphic designers, search engine optimization experts, copywriters and database designers especially when I don't have the time to do the work myself or it is outside my area of expertise.

6. Create a membership site - if you are an expert in your field and can provide the resources, knowledge and support, you can charge a monthly fee to gain access to your membership site. The more members you gain, the more money you make. Because you are an expert in your field, you can also recommend other products and services to your members, from which you earn commissions. (The link below will take you to an example website)

7. Become a Reseller - by reselling other people's services you can earn ongoing residual income. One such example is web hosting or domain name registration. You pay a monthly fee to the reseller and you can charge whatever you like to your customers for your service. Of course you must be thoroughly familiar with the service to provide the necessary support to your clients. Scottsdale Insurance is another example of a reseller selling a product with recurring income. (The link below will take you to an example website)

iPOWER

Conclusion: Building multiple passive income streams is a great way to speed up your retirement from the rat race and secure yourself for the future. You never know if you will be laid off from your regular job, get too ill to work, experience a disaster or want to start saving for your retirement.

Choose one of the above types of passive income streams and take action now, to secure your financial future.

Thank you for your time. If you would like to learn more about financial management and retiring young and rich, then subscribe to our FREE monthly newsletter by sending an empty email with the Title Subject as "Retire Young" to subscribe@private-income-group.com . Go back to Section 1