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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 its 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 rich for their patrons to support their work through regular contributions.

So now the site Patreon provides you the opportunity to get patrons for your own works. You construct a community of people interested in your job, another use of a blog that will double-duty with this passive income strategy, and then ask them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you offer rewards and copies of the work. So to get a writer, you might offer copies of your books. You can promise to publicly thank patrons on your site or to promote something of theirs in the future.

Even if each 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 to get Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of just $3 a month would be a monthly income of almost $19,000 and 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 through 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 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 across 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 market everything from the page on the worlds largest internet shopping website.

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 blue jeans with your name stitched across the pocket, so you can now begin for only a couple of thousand in inventory.

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

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Making valid passive income isnt as hard as you may think. A number of the very best passive income thoughts 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 more. The most important point is simply to begin.

In part three of the series we'll discuss the differences between residual income and passive income. These two phrases 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 residual income and passive income.Before I proceed onto a part of the Residual Income Series. .

First, lets have a look at what passive income is. Passive income basically includes any money you make without doing any job. Often times this money comes from 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 after a purchase. Normally these payments are agreed upon in advance and will continue long after the sale. A good 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 permits 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 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 which needs to be renewed each month or week, which will make view website it possible for you to continue to create money after the initial sale.