Most of us have been taught to go to school and get an education. Ideally you graduate from high school and further your education through college or a trade school. Some go on to achieve their Masters or PHD allowing them to command more money for their time. Ultimately, one must choose what they intend to do for a career, earn a living and be productive in society.
Going to school to get our education is what most of us do. Usually we graduate from high school and then select a college or trade school in which to further our education. Many go on past the normal four to five year college degree and get their Masters or even a PHD. This allows them to command more money for their type of work. However, you don't need a degree to become successful but often it reflects the ability to finish and see things through, among other things as well.
Residual income usually know for money you get a on a consistent basis from things you've already done. Also looked upon as money that is left over from your initial efforts. Its nickname or also known as (AKA) "mailbox money" and can be obtained by anyone, graduate or non graduate.
Usually to keep receiving residual income, one must still be "active" within the company or organization. Should they leave or break "policy", you can expect to stop receiving any further residual money. Replacing the mailbox money with a final termination letter and ceasing any more paychecks as the residual return comes to an end.
Passive income is similar to residual income but with one major difference. You can become inactive once you've achieved passive income. Allowing you to retire from your job but still receive that check. Not to be confused with a pension but giving you the freedom to maintain your preexisting standard of living, while NOT having to work for it (the paycheck) any longer.
You hear a great deal of individuals giving testimony to having a residual income, which is what most people strive to obtain and rightly so. This is to be expected when working within a home based business environment or any other self-earned income opportunity. However, if you can build your residual earnings into an ongoing passive income, you will be better off once you choose to STOP acting (or working) to get the paycheck.
Whether it be residual income or passive income, once you get a taste of either one you will most likely want to continue in this manor and grow it to unlimited heights. Allowing you to experience a lifestyle unlike others they may need to report to workplace at a certain time each day, week after week and year after year.
If you are currently representing a company or thinking of joining a company that offers residual income as a form of payment. You should check into their company policies and learn how your earned paycheck may be treated, should you choose to move on to another business opportunity. Losing a residual income after spending your time and energy creating it, could be devastating if you are not aware of its tenure ahead of time.
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