Recurring Income is pretty much the same as Passive Income and is one of the smartest ways to make a living. I came across this article which explains how important it is to learn how to grow your income:
Passive Income: How to Earn More and Work Less
Passive income, on the other hand, is income that does not require your direct involvement. Some kinds of passive income you may be familiar with include owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less, and have a decent retirement, you’re going to have to start creating income streams that do not require your direct involvement. Whether you’re just starting your business, or you’ve been running it a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom.