Monday, December 21, 2009

Residual Income - What is it and How it works

3 other examples at the site.

ADA, Okla., Dec 17 /PRNewswire-FirstCall/ -- Income that accrues after the initial work is completed is described as residual, recurring or passive income. Some call it the commission that keeps on giving. For some, Pre-Paid Legal Services, Inc. (NYSE: PPD) associates, it might be described as "life saving" or "life savings" income. Pre-Paid Legal associates Albert Lewis, Inger Lemke, Richard DeVasto and Astrid Hricak each offer stories of how such residual income has provided ongoing benefits to them.

Albert Lewis (Chicago, Illinois)

On October 2, 2009, Mr. Lewis suffered a stroke and was hospitalized for 30 days. One thing the former truck driver turned Pre-Paid Legal associate did not have to worry about during his recuperation was income for his family. During his hospital stay, Mr. Lewis received a monthly residual check that amounted to approximately 15 percent of the annual income he once received as a truck driver.

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