I have written about Residual Income before. It is something I am very passionate about as I share in this message.
Residual Income is income that continues to generate after the initial work has been done. Some examples of this are:
- An author of a book receives ongoing income for sales (royalties)
- A singer receives ongoing income for CDs sold
- Positively geared rental properties give you a residual income
- Investing in shares or other various investments can result in ongoing income
Let me know if you think it is important.