When you go to work in a factory, for example, you perform certain tasks and are paid according to the number of hours you invested in performing the task. Tomorrow, you return to work and perform the very same tasks. The tasks you performed yesterday have been paid for and are reflected in your paycheck. You won’t be paid again for yesterday’s efforts. On the other hand, passive residual income puts money in your bank account day after day and month after month, for work you performed only once. Sounds good! How do you get on this train? Let’s say you’re a dog fancier and have come up with an idea for a dog collar that protects your pooch from every pest in a dog’s life. You patent your idea, manufacture the collar and then sell millions of them.

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