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. Not that you or anyone else
needs a "diploma" in order to be successful but some would
consider it to be a "marker" of discipline, as to whether
one may finish the task or do the job required.
Residual income is known as money that is received on a
regular basis from efforts already sown. Could be thought
of as money that is "left over" from an initial purchase or
ongoing installment. 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. With passive income you can now be an
"inactive" party. Qualifying you to "retire" from your
venture an yet still keep on receiving your expected
paycheck. 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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Aubrey Richardson is the founder of http://www.logofax.com
a Logos & Clip Art site and has created
http://www.internet-based-business-opportunity.com to show
others how to build a successful online business. Find out
how you can profit online too with his popular free
ecourse, available at: http://www.aubreyrichardson.com
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