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

Patreon is actually how the arts used to operate hundreds of years ago. Back during the renaissance, artists used to ask the rich 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 build a community of people interested in your job, another usage of a blog that will double-duty with 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 this work. So for a writer, you might offer copies of your books. You could promise to publicly thank patrons on your blog or to market 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 site to get Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of just $3 a month are a monthly income of nearly $19,000 plus they get cheerleaders which are always happy to spread the word on their brand. .

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

It used to be that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to ship everything straight 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 largest internet shopping site.

Amazon FBA gives you the opportunity to compete with the biggest names in retail. Always wanted to start why not try here a toy company, proceed over Hasbro. Want a line of jeans address with your name stitched across the pocket, so you can now get started for just a few thousand in inventory.

Ive got a few interviews on the blog from folks who have begun shops through Amazon FBA. A couple of them are making six-figure 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 hard as you may think. A number of the best passive income ideas may take a little time to set up but can begin money 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'll discuss the differences between residual income and passive income. Both of these phrases are often used interchangeably, but in reality they are not the same thing. There are some similarities, but there are also some big differences between remaining income and passive income income.Before I move onto part of the Residual Income Series. .

First, lets take a look at what passive income is. Passive income essentially includes any money 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 the money they are making.

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Residual income includes payments that you will receive following a sale. Usually these payments are agreed upon in advance and will continue long after the sale. A good example of this is royalties that someone gets for 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 allows you to continue to create money from your work.

Residual income can eventually turn into passive income over 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 methods to earn residual income. It normally involves a fee which needs to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.

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