What Is Residual Income?

defines residual* income as "a payment (as to an actor or writer) for each rerun after an initial showing (as of a TV show)"*
Actually, residual income is akin to a royalty: "a payment to an author or composer for each copy of a work sold or to an inventor for each item sold under a patent)."	We think of it as "Income that continues to flow, even after the initial effort to create the cash flow has stopped"

Money in the bank that pays you interest is another form of residual income... Next