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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 own for anyone with a side-hustle notion.

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

So now the website Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of people interested in your job, another usage of a blog that will double-duty for this passive income strategy, 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 to get a writer, you might offer copies of your own books. You could promise to publicly thank patrons on your blog 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 massive source of income. Take a look at the Patreon site for Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of just $3 a month are a monthly income of almost $19,000 plus they get cheerleaders which 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 easy 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 products. Together with Amazon FBA, you contract with a manufacturer to send everything directly to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, pack it and even set your tag on it. Then you simply run your advertising and market everything from the page on the worlds largest internet shopping site.

Amazon FBA gives 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 with your name stitched across the pocket, so you can now get started for only a couple of thousand in inventory.

Ive got a few interviews on the site from folks who have begun shops through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 a month is easily achievable in less than that.

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Making legitimate 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 begin cash flowing within a couple of months and will provide a consistent monthly income for many years or longer. The most important point is just to begin.

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

First, lets have a peek at what passive income is. Passive income basically includes any money that you make without doing any work. Often times this money comes from investments of time or money which you've made. With passive income that 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 receive after a purchase. Normally these payments have been agreed upon in advance and will continue long after the sale. A fantastic instance of this is royalties that someone gets to get a film or book. They only write the film or book once, but it can continue to be sold and resold again and again, which permits you to continue to make money from your job.

Earning income can eventually turn into passive income with time, since you can eventually earn money helpful site 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 individuals 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 needs to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.