How Can Passive Residual Income Give You a Better Life?

Someone once explained to me that he was taking a month or two vacation away from work. Naturally I asked how that was possible. Certainly no normal employer would allow someone to just randomly take a few months off. He went on to tell me about how he was making passive residual income and I was immediately hooked and had to have it.

First, let me explain exactly what passive residual income is. Passive income and residual income have slightly different definitions.

Passive income is income that is derived from business happenings that took place in the past. It means that the income comes even if you are inactive. It is income that comes without the persistent work.

Residual income is income that comes in intervals usually every month or year after the initial sale is made.

They are similar in definition except that make money online may not always be the same amount. For example, if you were to sell an information product, the sales from that product will differ every month. You could be paid consistently year after year for one time effort or work(make money online) but the income won’t be consistently the same. (residual)

In this day and age passive residual income can be a huge comfort zone for you and your family. What income would you rely on if you were to get laid off or got fired? You could always look for a new job, but lets face it, the economy has seen better days.

Not only will it provide you with a piece of mind but it will also allow you to spend more time with your family and friends. Time is money right? So if your passive residual income starts exceeding what you make at your day job, you can begin to cut back on hours or even quit!

Be careful not to do anything stupid and get carried away. It’s always better to be safe than sorry and that’s why I believe passive residual income to be a necessity for my lifestyle. Some people just aren’t made to live a worry free no time constraints life. In fact, many people have to have the 8-5 M-F job because that’s the way it is, that’s the way it always has been, and that’s the way it’s gonna be.

I say too bad for you. Passive residual income will allow me to set my own schedule. I have the opportunity to sleep in whenever I want. Heck, I can even take a few months off without skipping a beat!

There’s also no limit to the amount of passive residual income I can make. The more projects I complete, the more passive residual income I will make. Many jobs have an income ceiling.

To sum it all up, passive residual income will give me more freedoms than a normal job. Freedom is a good thing. Not for everyone but certainly for me. Life with passive residual income is good.

Source by Matt Helphrey