By definition, residual income denotes the amount of net income generated in excess of the minimum rate of return.
On a more personal level, it refers to the level of income that an individual has access to once all expenses and debts have been paid.
Having a stable residual income is an important part of managing your finances, particularly in retirement.
An easy side hustle for retirees is to share your photos in Instagram and build a following.
Here are some notes on how you might build an Instagram following
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