Tips For Earning a Residual Income For Financial Freedom

Executive summary about residual income by Louis Charles Martel

Residual income is an ongoing stream of financial returns paid to the producers, creators or owners of a specific entity of work. Anyone can earn a residual income but the value of the revenue stream depends on how successful your product is.

Royalty payments are the most recognized form of residual income earnings. For example, JK Rowling will earn a payment from every copy of Harry Potter that is ever sold. Each book is a completed body of work but JK Rowling potentially stands to earn royalties from that finished work beyond the foreseeable future.

Authors are not the only people to earn these types of royalty payments, musicians and actors also earn residual income in a similar way. Every Elvis track downloaded on iTunes earns him a payment.

Elvis as an actor earns a royalty payment each time one of his movies is rerun on cable television. Elvis the icon continues to earn residual income for the use of his image or name for memorabilia or branding purposes. Elvis is dead but his residual income is continually paid to the owners of his estate.

Inventors who own the patent of their creations can also earn substantial royalty payments. Where Robert Kearns's patented invention is still applied in new cars, he continues to earn from that single flash of genius.

Today there are new ways to earn fantastic residual income. The way to earn money from the site is to monetize it with advertising.