Query: What's the difference between passive income and residual income?
Context: Passive income is money you earn when you're not actively working. Residual income is a type of passive income. Residual income is money you continue to receive even after all the work is done (such as song royalties, YouTube ads, or stock photo downloads).\r In the accounting world, residual income has a different meaning. It refers to the money left over after all your necessary living expenses and monthly payments.