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

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

So now the website Patreon gives you the opportunity to acquire patrons to your own works. You build a community of people interested in your job, another usage of a blog that does double-duty for this passive income strategy, and then request them to make contributions each time you produce something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of the work. So to get a writer, you could offer copies of your books. You could promise to thank patrons on your blog or to market something of theirs in the future.

Even if each 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 movie company. They've over 6,209 patrons that means an average of just $3 a month would be a monthly income of nearly $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 via Amazon FBA. This is one of the very exciting income ideas 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 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 across the country.

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The manufacturer is going to put everything together, pack it and even set your label on it. Then you just 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 the biggest names in retail. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans with your name stitched across the pocket, so you can now begin for just a few thousand in inventory.

Ive got a few interviews on the blog from people who have started stores through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 per month is easily achievable in less than that.

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

In part three of the series we'll discuss the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in fact they are not the same thing. There are some 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 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 that you have made. With passive income the person does not need to be find involved with all the money they are making.

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Residual income includes payments that you will receive following a sale. Usually these payments have been agreed upon in advance and will continue long after the sale. A fantastic 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 permits 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 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 visit the website which needs to be renewed each month per week, which will make it possible for you to continue to make money after the initial sale.