Residual income is money that is earned on a recurring basis, typically as the result of a single original action. Rather than earning an hourly wage, residual income is typically generated through an initial investment of time or money with the goal of earning continuous payments. Once the initial investment, product, or service is made, the ongoing income that is earned is generally passive in nature.
Developing residual income is an important part of building long-term wealth. In fact, it’s practically impossible to do without it. Find out how to do just that in this quick and easy guide to residual income streams.