There are so many trendy phrases on-line, as well as jargon that is too technical for the average user, that sometimes it is hard to decipher it all. Even with something so easy as passive income and residual income. Web page upon web page is using the two terms interchangeably and that is wrong. There is a slight, but significant, difference between the two.
Let us begin by going to the most basic difference, the definitions of both.
Passive Income – Income that is earned through investments, real estate or certain internet ventures. Once the initial investment has been made (whether it be in time or monetarily), the individual does not have to be actively involved after that to make money. View yourself being passive and what do you see? Someone sitting, being lazy and inactive! That is just how passive income works. You don’t have to do anything to make the money you receive.
Residual Income – Payments made to an individual based on a specific time table after a sale. The amount of each payment is normally a pre-agreed upon amount. Although not an on-line example, royalties are considered to be residual income. Whether the person is a...
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