What Is Residual Income? 10 Residual Income Ideas To Build Your Wealth

Most people believe that money is created through active income. They rarely think about passive income or even residual income as a source to generate wealth or financial freedom.

When exploring the means of creating wealth without using active income, we come across two types. There is passive income, and there is residual income.

Invest In Real Estate

The great thing about owning real estate is that there will be a good cash flow coming in every month.

Vacation Rentals Or Short-Term Rentals

If you have a free room in your house, you can rent that out. It is an excellent opportunity to make extra money without having much work to put in it.

Invest In The Stock Market

Investing in the stock market is one of the simplest ways to create a passive income stream.

Invest In REITs

These are companies that will buy up real estate and use your money to help them do it. You will get dividends from the residual income that the company makes off of its property.

Start A Blog

If you want to capitalize on something with a high ROI, creating a blog can be a way you can do it.

Launch A Podcast

If you enjoy talking with people or sharing ideas, you can start a podcast.

Write A Book

Writing a book is a great way to build something and allow the income to come in after all the work.

Create A Course

If you can teach someone, then building a course is a great way to generate some good residual income.

Make An App

If you have some technical skills, you can use those skills to be an app. That can be an app about anything that people will find value in.

Sell Digital Products On Etsy

If you are good at creating, you can create notebooks and other digital products. You can sell these on Amazon, but you can also sell these on Etsy.