Difference Between Linear Income And Residual Income
Have you ever wondered how the rich manage to acquire so much wealth? The secret of the rich is not that they have more money but that they have more freedom of time. Because many of their currents are focused on generating a residual income, they have more time to spend whatever they want.
So, what is all this comparison between linear income and residual income? The income paid once per hour you work is linear. Here, the income of a salary is linear. They only pay you once for your effort. However, with residual income, you work hard once and trigger a steady flow of income for months and even years. They pay you again and again for the same effort. They pay you while you sleep, while you watch a movie, 24 hours a day.
Do not you think that idea?
So, what are the various forms of residual income streams?
Here is a list of the many types of residual income you may wish to explore:
1. Savers earn interest
2. Composers earn royalties for their songs
3. The authors earn royalties from their books.
4. Insurance agents obtain recurring sales contracts
5. Investors earn dividends and interest on their shares.
6. Game designers and software creators get royalties.
7. Entrepreneurs get business profits.
A residual income is the recurring payment received in intervals. Residual income (also called passive income) is usually a recurring income that continues to be paid as time progresses through all of your efforts that you have taken much earlier.
There are many other forms of residual income that you can take advantage of. The question is: & # 39; How many of them do you already have? & # 39;
If not, how much effort are you willing to put the effort to achieve them? Now personally, I believe that the Internet gives us numerous opportunities for us to generate residual income streams.
There are several methods to generate residual income on the Internet. Some of them are creating a product and selling it again and again using an automated system, forming copyright materials, income creation assets and network marketing. A residual income allows a person to get away from the worries of spending 8 hours a day in the office. It also provides financial stability.
Here, one should always seek to create residual income streams to achieve the financial freedom that everyone desires. And the Internet is a platform that provides many residual income opportunities