A passive income, also known as a residual income, is income generated without having to work on that income source continuously. It normally involves a one time selling and getting paid for that sale continually. A classic example is having a property for rent. You rent it out once and get paid month after month without lifting a finger. Now, with the convenience of the internet, generating online passive residual income opportunities is greatly enhanced.

This is because there's a vast variety of products with passive income opportunities that you can choose from to promote. The types of passive residual income business opportunities online I like to be involved in include hosting companies, membership sites, sites that offer autoresponder services and private clubs to name a few. You can also create your own products that generate passive income. This can be ebooks, software programs, email newsletters, members only forums and any product or services that are subscription based.

Another source of residual income comes in the form of Network Marketing online. The internet has revolutionized the network marketing business. You don't have to meet your potential customers or downlines if you don't want to because these can be done online through email marketing. Chances are, you will not be meeting them because with the internet you can sell and recruit world wide.

It always amazes me how people just shy away from these two words. It's like a plague or something. “Oh no stay away from those network marketing companies, they are illegal, they all scams to steal your money”. Sounds familiar? Well, in a way I don't blame them due to the amount of scams that are out there today. That's why you need to do in-depth research before getting your hands wet. It will be worth your while because once your business starts growing, your passive income stream will become a river and when that happens you can't stop it from flowing even if you want to.

Residual income with Affiliate Programs is another great residual income source you should seriously look into. This is a good way to start a business online if you are new and a great way to build your business earning passive residual income for years to come. One of advantages of promoting affiliate programs is of course, you don't need to deal with customer service. You don't even need a ware house to store your goods to name a few.

Learn about keyword research and how to SEO optimize your site to promote it. The secret to successful affiliate marketing is to always promote your own site first. Then, market the affiliate products or services in your site and not the other way around. This way, when you have new products or programs to promote, just put them on your site.

Create your wealth the smart way. Understand and implement the principles of residual income online to leverage your time and effort. Generating multiple streams of income with online passive residual income business opportunities is the way to go and is becoming the way of the future.