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The importance of residual income to financial security.
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[QUOTE="King bell, post: 344087, member: 75687"] Also referred to as passive income, residual income is a critical aspect of financial security since it ensures that one keeps on earning money even when not actively engaged in working. It is important in diversifying the sources of income, ensuring stability and consistency, achieving financial independence, accumulating wealth, mitigating risks and offering lifestyle flexibility. People can guarantee their future economic wellbeing by establishing multiple channels of passive incomes such as rental earnings; dividend from shares ownership; author’s royalties or affiliate marketing compensations for recommendations made through websites. By doing this they will be able to take care of their old age expenses, follow their dreams and maintain a standard way of living. Residual income also allows for long-term growth through compounding returns and reinvestment of earnings resulting to financial independence, freedom and resilience against unpredicted monetary distresses later in life. On the whole, residual income is essential in terms of both present day demands as well as possible future aspirations when it comes to anchoring solid foundation financially. [/QUOTE]
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The importance of residual income to financial security.
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