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Various Ways To Generate Passive Income Passive income is money that can be received on a regular time frame that requires minimal effort to obtain or manage it.
Many people are familiar with the get rich quick schemes that companies use.
Basically, these companies promise instant or enormous returns on your investment
The IRS bases income received into three areas.
Theses areas are portfolio, earned and passive.
Different types of this income include rental revenue,
profits from a business venture that doesn't require direct management
or input from the owner, book royalties, sales earnings based on residual income and internet marketing revenues.
Non-passive income includes lottery winnings, salaries, wages, stock and bond gains, retirement and commission earnings.
There are ways to generate this type of revenue with little to zero investment.
Consider creating interesting internet content. This is very low cost, very low maintenance and easy to do.
If you can create interesting blogs, photos, movie and video clips, flash design, podcasts or other methods to distribute easily in electronic content, you could be on your way to making earnings you desire
Another idea is to establish your own online auction based business.
Some people are able to buy and investment property with no money down. This is very inexpensive to start with and you obtain a large asset for no initial monetary investment.
The challenge is that you must have good to excellent credit
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