Getting Rich Slowly // Stacking Pennies to the CEILING! // Residual Income
Residual Income
Residual income is a bit of a buzzword when it comes to generating wealth, especially online. It basically can be defined as money that continues to come in over time, long after the initial time/money investment.
A common offline residual source would be rental property, but I only own my house and have yet to be able to afford an additional property (though I hope to be able to in the next 5 years).
Adsense
I have started acquiring websites on Flippa.com, which is my equivalent of online real-estate. I have purchased three sites in the last six months to go along with the authority site on game rules that I developed myself.
You can see a partial list of daily earnings in the image above. Nothing huge, but it’s up to a nice cup of coffee everyday from that advertisement provider and more comes in from ezoic and Amazon Associates.
Lending Club
Lending Club is a peer-to-peer lending services that allows users to purchase small stakes (as low as $25) in loans at varying interest rates, depending on the credit history of the borrower.
I have had money in Lending Club for 18 months, and I have finally reached the threshold for automatic investing, so that every time I add money to the account or receive loan payments, my returns will be automatically invested/reinvested. My average return so far has been above 9%, which isn’t great when compared to investments in the crypto world, but is still worlds higher than other forms of low-risk savings.
Steemit
One worry I have about Steemit is that opportunities to monetize content beyond the initial 7 days are limited to various affiliate sales or driving directed traffic to other online ventures. Still I have been able to generate some residual income through delegating my Steem Power (which I have been investing in for the last month or so) for a daily Steem payout through minnowbooster.net. I am up to about .75 Steem per day through delegation--~ 1.10 daily. My hope is that I can continue to build my Steem Power and use Steemit as a platform for residual income as well as one-time income from the various blog posts.
How Do YOU Make Money Online?
So how do you make money online? I’d love to know of any opportunities that I might have missed, as well as just listening to your strategies for earning income.
Image Source (Coins): By Elembis (Own work) [Public domain], via Wikimedia Commons
Very nice post. I really liked how you described each way of residual income. I guess I'm working my way up with steemit. I also want to have some kind of small chunk in cryptos too see how I will do. I also have bought silver for keeping in the long run. Thanks for this post.
Silver and gold are great in times of calamity.
This post received a 2.4% upvote from @randowhale thanks to @lilrut! For more information, click here!
Thank you for sharing your experience!
I run a couple websites, use adsense, amazon, and a dropship. Most of my income comes from writing.
I just purchased a dropship site from Flippa. I have never done it before. From my understanding, it generates sales through advertisement campaigns. We will see how this one does.
It's great that most of your income comes from writing. I would like to get to that point, but as is, it is only about ~15%.
It took me two years of writing to start seeing a few hundred a month, then another couple years to be able to pay my rent with it. But, like all things- good things take time :) It's worth it tho. For me at least. I cannot work outside of the home so I am grateful people enjoy my writing so much that I can earn an ok living from it :)
Yeah, my first Adsense payout took like 2 years. I remember being so happy to see .30 in a day back then.
Lol! YES! I remember like my first month was . 18 and I got so happy I showed everyone at work cuz they didn't believe anyone could make money online anymore!
@lilrut got you a $1.92 @minnowbooster upgoat, nice! (Image: pixabay.com)
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