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Our next passive income idea is another twist on crowdfunding called Patreon. The website is promoted as a crowdfunding website for creative people like artists and writers but really its for anyone with a side-hustle idea.

Patreon is actually how the arts used to work hundreds of years ago. Back during the renaissance, artists used to ask the wealthy for their patrons to support their work through regular contributions.

So now the site Patreon gives you the opportunity to get patrons for your own works. You construct a community of individuals interested in your job, another usage of a blog that does double-duty for this passive income strategy, and then ask them to make contributions every time you produce something. .

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Now patrons dont come off empty-handed, you provide benefits and copies of this work. So for a writer, you might offer copies of your books. You can promise to thank patrons on your site or to promote something of theirs in the long run.

Even if every patron only contributes a very small amount every month, it can still be a huge source of income. Take a look at the Patreon page to get Kinda Funny, an internet video company. They've over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .

Our last passive income source is creating your own brand and selling via Amazon FBA. This really is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to market your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses across the country.

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The manufacturer is going to put everything together, pack it and even put your label on it. Then you just run your advertising and sell everything from additional info your page on the worlds largest internet shopping site.

Amazon FBA gives you the opportunity to compete with all the biggest names in retail. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans along with your name his response stitched across the pocket, so you can now begin for only a couple of thousand in inventory.

Ive got a few interviews on the blog from folks who have started shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year therefore $5,000 a month is easily attainable in less than that.

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Making valid passive income isnt as difficult as you might think. Some of the very best passive income ideas may take a little time to install but can start money flowing within a couple of months and will offer a consistent monthly income for years or longer. The most important point is just to get started.

In part three of this series we will go over the differences between residual income and passive income. These two terms are often used interchangeably, but in reality they are not the exact same thing. There are a number of similarities, but there are also some large differences between remaining income and passive income income.Before I proceed onto a part of the Residual Income Series. .

First, lets take a peek at what passive income is. Passive income basically includes any money that you make without doing any job. Often times this money comes from investments of time or money that you have made. With passive income the person does not need to be directly involved with the money they are making.

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Residual income includes payments you will get after a sale. Normally these payments have been agreed upon in advance and will continue long after the sale. A good example of this is royalties that someone gets for a movie or book. They only write the movie or book once, but it can continue to be sold and web link resold again and again, which allows you to continue to create money from your work.

Earning income can eventually turn into passive income with time, as you can eventually earn money without doing an extra work. .

Now that you know the differences between passive and residual income, it is time to learn about some of the most common methods individuals use to earn residual income:

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-Selling products online: This is one of the most common ways to earn residual income. It usually involves a fee that needs to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.