The goal of most of us is to be able to enjoy life without having to work. And one of the easiest ways of doing that is to create what is known as residual income.

Residual income?

That's where you get income without having to do any work. Like having rental and investment incomes.

I hadn't really thought about this until I was reading a new book by Darel Rutherford called Being The Solution.

His subtitle is "A Spiritual Path to Personal Power and Financial Independence".

The interesting part of this book is that Darel has done just what we've talked about here. He wrote and published his own book.

I first read his ebook and then Darel sent me a copy of his hard cover book.

I want to tell you that this 283-page book is very impressive. Especially since Darel shares modern miracles of using your personal power to accomplish the things you want from life.

You can get more information about Darel's powerful book at http://www.frontiergold.com/being

According to Darel, there are three income-earning strategies:

• 96% of us trade our time for money
• 3% of the population invest to earn money
• 1% of the population multiply their efforts through other's efforts (residual income)

And here's Darel's list of sources of residual incomes:

• Royalty checks from the sale of books, tapes, and movies
• Rent income from owned real estate
• Stock dividends
• Interest income
• Network marketing commissions
• Tollgate income when you own the bridge others must cross
• Oil well royalties
• Inventor's patent royalties
• Insurance policy-renewal commissions

Now let's look at each of the above.

Royalty Checks from the sale of books, tapes, and movies

This is what TIWAPA is about. We want you to create information products that others are willing to buy. By creating a number of these products you'll soon build an income stream that is strong through good times as well as bad. I consider this is the easiest way of creating residual income with little upfront costs.

Rent income from owned real estate.

Yes, this is usually the way that others talk about making money. However, I've had rental real estate and I've found that it's not the easiest way of creating income. You have to be the type who can handle complaints in the middle of the night and chase your renters to get your monthly check. I know a number of people who made their money this way. But you have to be motivated to stay involved.

Stock dividends

I like this form of passive income. But unless you started with lots of money it takes time to build enough income to make this work for you. I've seen information that says that the average investor in the stock market is lucky to break even in a ten-year period. I know that when I was investing in the stock market I would have been happy to break even ;-)

Interest income

Yes, I like this form of income too. But today's interest rates makes it nearly impossible to live on even a million dollars invested. Consider that at 5% interest, one million dollars will give you $50,000 a year. Today's 2% returns means you'd only be getting $20,000. I think I'd rather live on the principle ;-)

Network marketing commissions

In the past this method of marketing has gotten a bad name. But today I'd also include affiliate marketing in this group. And I believe you'll see this method of marketing increase in the future. Here's an example of a great way of creating residual income. Go to http://www.frontiergold.com/data/netbreak and you'll see a program that provides information on a monthly basis. Members pay monthly and the affiliate program pays each affiliate for members they brought in each month. So you could build up a number of members and get income without any more work.

Toll gate income when you own the bridge others must cross

That's like owning the Golden Gate Bridge in San Francisco. You get money from every car that travels over the bridge. Examples are books that you've licensed to others to sell (where you get a percentage of sales), finders fees, etc.

Oil well royalties

I know, where do you drill for oil? But let me tell you a story of a friend of mine. I knew him at work and he left to start his own roofing business.

Several years later I learned he'd retired.

So I immediately considered starting a roofing business.

That is until I learned that his father died and left him a small farm in West Texas. And they found oil on the land.

So it can happen.

Inventor's patent royalties

All you need to do is become an inventor. Or buy the rights to an invention. And then let others produce it using the patent you control.

Joe Cossman, author of How I Made $1,000,000 in Mail Order used other's inventions to make his fortune. Of course, Joe is quite a marketer.

Insurance policy-renewal commissions

To be successful with this you need to have sold insurance. Or else have a family member who did.

I had a friend whose father was a successful insurance salesman for years. And when he died my friend entered the business to keep those renewal commissions coming in.

Well, that's it.

As you can see, even Darel listed creating residual income from books, tapes, and movies (or videos) first.

I believe this is probably the easiest ways of creating residual income. And it definitely is the low cost leader for creating residual income. All you really need is information that others are willing to pay to get.

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