Why You Should Seek to Earn Residual Income Many people have heard of residual income, but are not entirely familiar about what it is and what it can do to change lives. In a very real sense, residual income can be seen as money earned without having to work for it. If you have a job and work the normal hours of most people, you earn a linear income, something that is based on how many hours you give to the company in a set time. When he or she does not work, there is no pay to be received. When you earn residual income, however, you do not lose your income even if you were to stop working. A good example is in the case of people who have businesses – their income is not based on how many hours they work each day, and they continue to receive pay even if they don’t work for some time. As it is clear to see, residual income is a very beneficial thing for everyone. One who earns residual income, for example, can decide what to do with his or her time without being held down with how many hours of work must be put in in a day. With linear income, one has to work the required number of hours per week, which can drain the energy and take a lot of time out of one’s hands. With residual income, you can enjoy life and live it to the fullest without being tied down to the office, where you have to work tediously for many hours a week. When you earn residual income, then, you get your time and freedom back.
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Another benefit of residual income is that it is stable, even when life takes a surprising and unexpected turn. Since life has a way of turning up differently from the way that you expected it to, you will benefit if you were earning steady residual income. For example, if you suddenly got very sick and had to take time off to rest, your income would also stop for the days or weeks that you failed to work. The results of this could be devastating, and you could fall into debt or have to rely on your family. Residual income, then, gives stability that is not found in linear income.
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Residual income also gives people wonderful freedom. While you earn your residual income, you can go anywhere you want without having to worry about not earning money while on vacation. There are definitely many benefits that can be enjoyed through residual income.