Creating residual income streams in the third age years

Creating residual income streams is not an impossible dream for those retirees charged with an entrepreneurial streak.

Certainly to achieve manifold success offline is a challenge that may be beyond the majority but the opportunity to do so online is open to every third age traveller.

Residual income (also known as passive or recurring income) is income that continues to be generated after the initial effort has been expended.

In other words, you do something once and it continues to generate income, perhaps for years on end. Compare this to how most people focus on earning: linear income, which is one-shot compensation or payment in the form of a fee, wage, commission or salary.

Linear income is directly proportional to the number of hours invested in it (40 hours of pay for 40 hours of work) but one of the great advantages of residual income is that once things are set in motion, you continue making money from your initial efforts, while gaining time to devote to other things - such as generating more streams of residual income.

http://earn-money-in-retirement.com