Anyone who tells you that building a residual income stream will be easy is selling you something. There may be some people who stumble into huge profits by accident but someone who wins the lottery will tell you it was easy too. The fact of the matter is that you will have to work hard to develop a residual income stream that you can live on, or at least be proud of.
The most lucrative approach to passive income that I have heard of, would be the niche bloggers. I just read the other day about a blog that was raking in the cash at a rate of $14,000 per month just on Amazon sales alone. I have yet to set up a niche blog, but the one thing that I know about affiliate marketing is that you have to be passionate about it, especially if you are going to be writing about the product. You will need to speak intelligently about the product to keep people reading and potentially buying. Niche bloggers don’t just pick on niche to focus on, but many. Sometimes they have up to 20 blogs, and why not. This is a great way to create more income. After you are successfully driving a ton of traffic to one blog, start another.
Another way to build residual income is to start writing articles. There are a ton of websites that pay you to write articles for them but none pay as well as Bukisa and Ehow. On Ehow you have to write your articles in a How to format. This is restrictive but you can pump out a ton of articles in a short amount of time this way. Bukisa is more traditional and you can use your creativity to write just about anything here.
If you are a good photographer then you should share your talents with the world. Micro stock websites will offer you royalties on all of the photographs that you post. This is a good way to earn residual income if you have the photography talent. Remember, no one will pay for a poor photograph.
There are thousands of websites out there that will pay you for just about anything if you do enough research. There are even websites that pay you to play online games. Some might look at this as gambling, but you never actually wager any of your money. This website is called Moola and is really quite ingenious.