Most of us are stuck in a 9 to 5 job, paid a salary or compensated by the hour. Like clockwork, whether itís weekly or bi-monthly, you get your paycheck and thatís that. This is the poster child of a fixed income. Unless you get overtime, a raise or a yearly bonus, your paycheck remains unchanged. Your expenses continue to rise. This picture can get old, fast. How can you change this scenario for the betterment of your lifestyle? There is one excellent remedy. Itís called passive residual income.

Passive residual income is income which is generated by one effort, returning dollars to you, over and over again, without any further time or effort on your part. Hey, that sounds good! How can you accomplish this?

When you go to work in a factory, for example, you perform certain tasks and are paid according to the number of hours you invested in performing the task. Tomorrow, you return to work and perform the very same tasks. The tasks you performed yesterday have been paid for and are reflected in your paycheck. You wonít be paid again for yesterdayís efforts.

On the other hand, passive residual income puts money in your bank account day after day and month after month, for work you performed only once. Sounds good! How do you get on this train?

Letís say youíre a dog fancier and have come up with an idea for a dog collar that protects your pooch from every pest in a dogís life. You patent your idea, manufacture the collar and then sell millions of them. Do you need to re-invent the collar? No. Are you paid for your efforts millions of times? Yes. This is passive residual income.

Maybe you know every folk remedy to cure your dog of ailments the vet calls hopeless. Write a book and let the world know your secrets. You write the booklet once and sell thousands of copies to dog lovers and vets alike. You write the booklet once, but are paid over and over for your knowledge. This is passive residual income. As you sleep, youíve got orders coming in and money flowing into your bank account. A prospect like this canít be beat.

The point is that you may have talents and avenues of income which are simply lying fallow. Make a list of things you know which might be of value to the public. You might be surprised at what you have to offer the world and what you might gain in return. Passive residual income is nothing to sneeze at!