“If you don’t find a way to make money while you sleep, you will work until you die.”
Passive Income is a marketing term describing recurring income derived from something that was set up once and still generates income. In other words, passive income allows you to make money while you are actually sleeping.
People have a tendency to confusion passive income with another marketing term called Residual Income. While they sound the same, they are quite different.
Understanding the difference between passive income and residual income goes a long way towards learning how to earn passive income.
As described above, passive income is actual money earned from a project, product, training, etc., that as previously set up – and is still working and generating (passive) income.
Residual income is actually NOT real money earned. This type of income is actually the difference between of earned income after all expenses have been paid. This difference between expenses and revenue – or calculation – is what we call residual income.
Therefore, once one understands the importance of creating and generating passive income sources, the better off they will be – thus being on the way to Generating Passive Income.
This website and blog show you how Passive Income is one of the best ways towards making a prosperous lifestyle.