It's a bit of an exaggeration, but I think you will get the point. What I'm trying to get across my friend is the concept of passive residual income. It's a word that should be a part of your vocabulary because without it you are still exchanging dollars for hours. And at that rate you will be working forever.

Passive Residual Income is defined as the following: Income generated with minimal work from your investment such as interest, dividends, real estate. We are though talking about passive residual income online, and also the fact that initially it requires time and work but thereafter the efforts may be minimal.

There are so many benefits regarding passive residual income and working on the internet. Here are a couple of those nuggets of information:

1. Working initially, but afterwards having more freedom and earning more money and doing less.

2. The ability to work when you want. 8a.m. or midnight in your pj's.

3. Your passive residual income is not based on your number of hours worked per week.

4. You can give yourself a raise, and increase your income when ever you want. You have the ability to create multiple streams of income.

5. Save money for your future retirement.

What are the types of passive residual income? And what do I suggest?

Affiliate Programs: Affiliate programs are companies that ask you to promote their products by putting up banners on your website. When they receive a sale that was originated from your site you receive a commission. What's great is these companies will track your results, and email you when you receive a sale.

Create an eBook: The internet is a wonderful place to promote any type of how to product. Think about what you know how to do and can teach other people. There will always be a need to get more how to information. Remember you can promote your product 24 hours per day on the internet and see revenue come in for years to come.

Receiving commissions for advertising: If you have a website that attracts a lot of traffic each day you can offer a banner or link on your site for a free that you collect commissions from month. For example, place a Google ad on your site; you receive commission for every visitor that clicks.

Members ONLY! If your really smart in smart part of your life, you can charge a monthly fee for people to access that information. One perfect example of this is myseoguide.com for a trial 2 weeks for .99 cents you can learn everything you ever wanted to know about starting up affiliate marketing, and become an internet marketer.

Passive Residual Income is a great way to make money while you are sipping margaritas. Sorry, I'd rather be on a beach. Best of luck to all of you,