What is the difference between passive and residual income?

+1 vote
asked Jan 2, 2019 in Other-Finance by jennifer0p (220 points)
What is the difference between passive and residual income?

1 Answer

0 votes
answered Jan 2, 2019 by Sharpis (1,590 points)
Residual Income is not an income stream at all but instead Residual income is just money you have left over after paying your bills and other needed expenses.

Passive income is just income that you make daily or monthly without having to do much if any work at all to earn that income.

It's income that just keeps coming in whether you work or not.

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