Chapter
The Difference Between Passive Income and Residual Income
51:38 - 54:33 (02:54)
The terms "passive income" and "residual income" are often used interchangeably, but they actually refer to two different concepts. Passive income comes from investing in assets that generate income without any ongoing effort, while residual income comes from work that's done once but continues to generate income over time.
Clips
Passive income is when you make an investment and receive a check without having to put in any additional effort.
51:38 - 52:33 (00:54)
Summary
Passive income is when you make an investment and receive a check without having to put in any additional effort. Residual income is recurring but requires ongoing work, such as collecting rent or managing a property.
ChapterThe Difference Between Passive Income and Residual Income
EpisodeOvercome Your Beliefs Around Money & Begin Investing In Yourself w/Grant Cardone EP 1229
PodcastThe School of Greatness
The host explains the difference between earned income, such as a CEO's salary that is heavily taxed, and passive income, such as dividend income that is earned from investing in a company like Coca-Cola without being taxed as heavily.
52:33 - 53:22 (00:49)
Summary
The host explains the difference between earned income, such as a CEO's salary that is heavily taxed, and passive income, such as dividend income that is earned from investing in a company like Coca-Cola without being taxed as heavily.
ChapterThe Difference Between Passive Income and Residual Income
EpisodeOvercome Your Beliefs Around Money & Begin Investing In Yourself w/Grant Cardone EP 1229
PodcastThe School of Greatness
The consistency of Warren Buffett's investment strategy lies in investing in companies that have been around for a long time while buying the best quality at a fair price instead of the lowest price.
53:22 - 54:33 (01:10)
Summary
The consistency of Warren Buffett's investment strategy lies in investing in companies that have been around for a long time while buying the best quality at a fair price instead of the lowest price. He invests in cashflow companies that are leaders in their space.