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

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

So now the website Patreon gives you the opportunity to get patrons for your own works. You build a community of people interested in your job, another use of a blog that will double-duty for this passive income plan, and then ask them to make contributions each time you create something. .

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Now patrons dont come off empty-handed, you provide rewards and copies of the job. So for a writer, you might offer copies of your own books. You could promise to publicly thank patrons on your site or to promote something of theirs in the future.

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

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

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

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The manufacturer is going to put everything together, package it and even put your label on it. Then you simply run your advertising and sell everything from your page on the worlds biggest internet shopping website.

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

Ive got a few interviews on the blog from people who have begun stores through Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 per month is readily attainable in less than that.

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

In part three see page of the series we will go over the differences between residual income and passive income. Both of these terms are often used interchangeably, but in reality they are not the exact same thing. There are some similarities, but there are also some big differences between residual income and passive income.Before I move onto part of the Residual Income Series. .

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

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Residual income includes payments that you will get after a purchase. Usually these payments are agreed upon in advance and will continue long after the purchase. A fantastic example of this is royalties that someone gets to get a film or book. They only write the movie or book once, but it can continue to be sold and resold again and again, which allows you to continue to make Go Here money from your work.

Residual income can eventually turn into passive income with time, since you can eventually earn money without doing an excess work. .

Now that you know the differences between passive and residual income, It's time to learn about some of the most common methods people use to earn residual income:

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-Selling goods online: This is one of the most common ways to earn residual income. It normally involves a fee that has to be renewed each month per week, which will allow you to continue to make money after the initial sale.