Introduction

Residual income is the lifeblood of every entrepreneur. It is how you can stop trading hours for money and truly start living the way you want. In this blog, I will look at various ways of creating residual income for you.

1. What is residual income?

Residual income is the income that continues to be earned after the initial effort has been expended. This can include income from investments, property, or businesses. Residual income is often considered to be a more desirable form of income because it is not subject to the same taxes as earned income.

2. Some of the different forms of residual income.

There are many different forms of residual income. The most common form is income from investments, such as dividends from stocks or interest from bonds. Other forms include rental income from property, royalties from patents or copyrights, and business income from ongoing operations.

Residual income is often a key factor in wealth accumulation and financial security. It provides a source of funds that can be used to make additional investments, pay down debt, or meet other financial obligations. For many people, residual income is a key component of a sound financial plan.