Recurring Income is another term for residual income. In a nutshell, there are
three (3) types of income streams that you may have coming into your business.
Majority of rich and affluent people created wealth through a form of recurring
income stream. Take singer Michael Jackson for example; he still continues to
receive royalty from the sales of his records made decades ago. He can even
repackage the same oldies and sell them to generate new income. He doesn’t
have to spend time in the studio to record new songs in order to have the cash
keep flowing in! This is the most ideal situation of the three. We would all like to
work once and get paid over and over again. That is the power of recurring
income!
