The money usally requires very little to no effort to keep bringing in these monthly or yearly payments. Passive income definition is receiving money on a recurring basis and continuing to receive this money. Residual Income, in my opinion, is money left over after you deduct your expenses. Work so much and continue to receive overrides on the teams you built. Not to be the judge and jury but Passive Income is more of what the Network Marketing groups are explaining. Which is the same definition as Passive Income? Network marketing or MLM used the term residual income and changed its meaning from money being leftover to money coming in after work has been done. People are using residual income to mean income you continue to get paid after the work is done. ![]() After paying their bills and meeting their financial obligations, residual income is a calculation that determines how much discretionary money they have left to spend. An enterprise that generates passive income is one that requires little or no ongoing effort. Network Marketing companies have used the example of the TV actors and musicians to change the meaning of residual income to fit their industry. Passive income isn’t necessarily residual income, even if it is passive. This is where the definition of residual income comes in to play today. Now in the past TV actors and musicians have earned residuals on their shows that continued to air. The actual definition of the word residual means money left over after you pay your bills. Some people define residual income as money you get paid after the work is done. To then put up with a boss while you make someone else richer. Get showered and then fight rush hour traffic. Having to get up every morning to an alarm clock ringing. Passive Income with multiple streams of income is the way to live life. Living on someone else’s terms having to work living paycheck to paycheck is no way to live life. Is that a freeing thought or what? For me it is. Using your money to make more money will lead you down the road to freedom. Being different and learning how to manage your money is the smart way to go in life. Truth is you don’t have to play in the same sandbox as everyone else. All in all, residual income can be passive, yet, the reverse is not true as passive income isnt always residual. These things are called “Life” nothing goes as planned. Realizing saving is harder than one realizes with all the things that happen to us. Try to put away for retirement during those years. Work hard till your over 65 years old to pay off those loans. ![]() Take out loans for school, cars, and a house. The typical path everyone is lead to believe how life is to go: Instead of having to work, you can work because you choose to, or you could decide not to work for however long you want to. Imagine a life where you don’t have to work every day…
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