Passive Income is also known as residual income or recurring income. There are three (3) type of income streams that you may have coming into any business models.

Type #1: One time payment.

If you perform a one-time job, sale or perform a contract, you earn one time and the income ends there. You only earn an income for the work you done once. You are required to continue perform job, sale or get more contract in order to have continuous income.

Type #2: Linear income

If you work in a normal 9-5 corporate world, you earn a linear income. You are getting paid continuously as long you continue to work for your employer. This is the most common type of income that the majority of workers “enjoy”. Even if you are a professional like doctor, lawyer or engineer, you will only get paid as long as you continue working. You must have a good retirement plan or sufficient saving in your bank account before going for retirement. Your bank account will dwindles down after you stop working.

Type #3: Passive income

Passive income also known as recurring income. The beauty of passive income is your income is still continue even after you have discontinued working. For instance, a writer release a book and as long as the book continues to sell, the writer will still continue to receive royalty income for a work performed once.

If you look around, majority of rich and affluent peoples are created by passive income stream. The wealth creation is enormous by passive income. Take superstar Michael Jackson for instance; Even Michael has passed away, his family is still continues to receive royalty from the sales of his records made decades ago. The recording company can even repackage the same oldies and sell them to generate new income. He doesn’t have to be alive or present in the studio to record new songs in order to have the income keep flowing in! Recurring income stream is the most ideal form of income among the three. No one will resist to work once and get paid over and over again. That is the power of recurring income!

Previously, the majority of professionals that can enjoy passive income belong to the creative fields such as actors, writers, singers, and inventors. Unfortunately, not many of us are gifted with the these talents and let alone the opportunities to be in the lucrative industries. But time has changed the way it work in twenty-first century. There is one opportunity for any ordinary individual today to enjoy residual income. It’s none other than Network Marketing or Multi-level Marketing (MLM).

Network Marketing or Multi-level Marketing (MLM) allow you to build a network of distributors, referred to as your downline, and generate income outside of your own immediate effort. You are multiplying your own effort by the total of people within your network.

To generate good recurring income, the smarter approach is to build multiple recurring income streams at once. Plug-In Profit Site (PIPS) is my top recommendation. It has put together 6 proven home business income streams, all with residual income streams under one “roof”. The program will build a website for you FREE within 24 hours and let you build 6 multiple income streams at once with one afford. Your PIPS website is pre-loaded with 6 passive income streams, 400 pre-written email newsletters, proven marketing plan or training for you to duplicate and allow your home business to run on autopilot. Promote just one website with multiple residual income streams is the real power of leverage.