Copyright 2005 Romel Wallace
The concept of residual income or passive income is probably one of most important concepts you will ever learn in your lifetime.
I know. This is a pretty big statement.
Well, it's a pretty powerful concept.
Anyone that can master concept of residual income is on their way to a pretty comfortable lifestyle. Simply put, residual income occurs by building a system one time that can produce a recurring stream of revenue once system is set up.
This income arrives on a regular basis. It can occur on a monthly, weekly, or daily basis. The frequency depends on business system itself.
What's so great about this is if you are willing to work hard and build a residual- based system in initial phase, you can reap benefits from this one-time labor for years to come. If you look around you, you will see examples of residual income all over.