1. Grow Your Money

How To Create The Perfect Residual Income

If you live in a harsh economic environment like Nigeria, where monthly minimum wage is N30,000 or almost equivalent of $50 (by the time this present exchange rate hits N600 to $1), you really need a residual income. How can you live on such meager income for a whole month, when some people are earning over $50 on residual income daily?

Let me compare your $50 monthly minimum wage to a residual income of $50 per day. That’s $1,500 or N750,000 on an exchange rate of N500 to $1. Don’t ask me why I’m using non official exchange rates. If you must know, much of what happens online in Nigeria is through unofficial transactions in dollar currency.

Nigerians are in control of their online activities, that’s why the government is trying at every point to frustrate the online community in Nigeria. So, it’s either you are building a residual income to take care of your regular expenditures, or you are building income for your retirement.

In this post, I’m exploring the world of residual income. Although, I will be drifting more into online income opportunities. Because that’s where everyone can play equally now.

What’s Residual Income?

If you work in the next 20 years, what’s going to be your income in 20 years? How much of your time and resources would that have cost you? Your income from work is only commiserate to the time and energy you put into the work.

Perfect residual income

That’s what I call “manpower” income. Laughing out loud! But how else can it be described than by what it is. However, when you practically do nothing, or little at the inception and then let that initial effort or input work for you continually, you have created an income that’s residual in nature.

This kind of income continues to come in even after you have completed the work that’s producing the income. And every Nigerian needs this kind of income.

How Residual Income Works

When it comes to residual income, two things are at play – how much you want to earn and how much you have to invest to earn it. Since I’m considering mostly online investment programs, the only factor that’s in consideration here is – profit percentage accruable from your investment.

The best way to understand residual income is to consider any of its examples. Take for instant residual income from intellectual properties like books, music, videos, etcetera. You write the book once, or the music or video is only done once, but you keep earning from those materials over a long period of time.

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As long as their are people willing to pay for any of those works, you keep earning residual income from that one-time effort. If you are thinking, what if I can’t write a book, or produce music or videos? Like I mentioned, those are just examples. There are many other ways to earn residual income, even if you don’t have any skill.

Investment Opportunities And Risk Assessment

Online residual income opportunities has flooded the internet since after COVID19 lockdowns. More and more people are looking for residual income to argument for the low income effects from the pandemic.

There are so many of these income opportunities right now on the internet, and most of them are actually scam. So, you have to be careful. Moreover, even when such opportunity is not really a scam, note that every business venture is a risk investment.

You have to be cautious and invest wisely. The first thing you have to do is ask yourself, how much can I possibly lose now and it won’t affect my finances? That should be the amount to start with. Never be in a hurry to earn from untested and unproven opportunities.

Start with small amount, and increase later if the opportunity proves to be legit. Another thing you should know about even legit businesses is that non is 100% risk proof. Invest only the amount you can possibly risk at first, and pull out funds as the returns starts piling up. Don’t get greedy.

Some Typical Examples of Residual Income

From the first examples I gave, you already know what is residual income. You can easily identify an opportunity when you see one. While most of the examples are still good as residual income, I’m going to emphasis more on online based residual income. But first let me give you some list of passive income.

  • Investment in stocks, forex and crypto
  • Investment in Real Estate
  • Creating an Online Course
  • Starting a YouTube channel
  • Having a membership site
  • Writing a Book
  • Building a network marketing group

Like I mentioned, we are going to explore online opportunities. And before I proceed, don’t ignore network marketing opportunities. I know some people don’t like the idea of network marketing.

Since there are no proven online residual income in Nigeria, you have to explore those from other countries. Unless you want to create your own residual income business. My suggestion is to find investment opportunities and plug in your money to earn income daily, monthly or annually, as the case maybe.

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Residual Income Ideas

Let me expose you to some of the existing residual income Ideas. The internet has truly changed the way anything and everything works all over the world. It’s not only the simplicity, but also the transactional nature of doing things.

There are several passive income Ideas online that you can start. The internet has given more people the opportunity that was once reserved to a select few. And you earn as much 10% returns on your investment. But before you invest in any one, study the opportunity. If possible, attend physical or online trainings to learn more about how you can earn from the opportunity.

Forex Residual Income Idea

Right now, one of the biggest investment opportunity online is Forex trading. It’s not new, but what’s new is opportunity for everyone including non traders to invest in the forex market. All you need is buy up an investment package from a trading company, and you get returns daily as the package stipulates.

If this kind of passive income interests you, here is another post you should read – HOW TO START FOREX TRADING AS A NON TRADER.

Crypto Residual Income Ideas

Cryptocurrencies are also taking its huge share of the currency market. Almost all the exchange platforms are also offering opportunities to trade cryptocurrencies as well. Even so, platforms are springing up asking for investors to buy trading packages with them for a guaranteed return.

Both the forex and crypto markets work almost the same. Apart from the fact that forex markets only operate 5 days in a week, as against crypto market that’s open every day of the week.

NOTE: The passive income investments that I recommend includes – OMEGAPRO, AX TRADER, BEURAX, and PETRONPAY.

Residual Income Business

Someone has asked me one day, is residual income a business? There’s a business aspect of residual income, and there’s also non business part, where you sit and earn passively. I have also listed some of them in the examples of passive income Ideas.

Residual income businesses are those income you setup and earn from over a long period of time. You may or may not own them 100%.

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Real estate is one of them. You invest in properties and keep collecting rents over a long period of time. The problem with real estate business is that it still needs you to manage the business. This aspect of passive income in common, not just in Nigeria but all over the world.

Perfect residual income

Best Residual Income To Invest With

The best residual income is actually the one that keeps paying you for a long time to come. However, you may not be able to predict which online investment will last for years to come. So, your primary target now should be to keep growing your income.

For example, to grow your income with passive income, you should look for investments that can guarantee some good percentage on a daily or monthly basis, if you don’t have much fund. Like, 0.45 to 5 percent daily income.

But if your target is a retirement plan, you should go for a longer passive income investment that gives 10 percent returns on a monthly basis. It will only require that you invest big. Like, $10,000 would give you guaranteed $30,000 returns in 16 months period, on a compounding interest rate.

Note that, going for a short term investment has a higher return and higher risk as well. A long term investment has lower ROI and also lower risk of failing. But if you are like me, I do the long term for secured returns, and I risk the short term and cash out before it has the potential to fail.


Residual income is not new. You probably have heard of it all your life but have never made it work for you. We are in an era where this kind of income is not only required but it’s also possible for anyone to start earning passively.

From as low as $10 you can start earning from a passive investment. This post is to help you start your journey of residual income. Don’t stop at reading it. Take action. Search for opportunities and ask around what others are doing to earn passive income.

Don’t rush into any investment. Do your homework, and ask those who have invested before you how their investment is doing before you put yours. As good as online passive income may sound, the risk is as much high too.

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