How To Stop Trading Your Time For Money And Start Creating Passive Income Imagine with me, that your workday began with the usual routine, but halfway through your morning, you received the news you’d been laid off. For most Americans, that means zero income starting tomorrow morning. Now, let’s pretend that duringContinue reading "How To Stop Trading Your Time For Money And Start Creating Passive Income"
Three Types of Income
Most people’s income is active, which means it’s from a consistent paycheck. But wealthy people typically earn Residual or Passive income (or both!).
Active Income
Active income is from your employer and requires activity in exchange for money. When you stop, the income stops.
Residual Income
Residual income means you receive money after the work is done. For example, every book an author sells provides residual income.
