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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 ago. 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 get patrons to your own works. You build a community of individuals interested in your work, another usage of a site that will double-duty for this passive income plan, and then ask them to make contributions each time you produce something. .

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Now patrons dont come off empty-handed, you provide benefits and copies of the work. So for a writer, you could offer copies of your own books. You can promise to thank patrons on your blog or to promote something of theirs in the long run.

Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Take a look at the Patreon site to get Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of almost $19,000 plus they get cheerleaders which 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 really is one of the very exciting income thoughts 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 bucks for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to send 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 just run your advertising and market everything from your webpage on the worlds biggest internet shopping website.

Amazon FBA gives you the opportunity to compete with all the biggest names in retailstores. 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 just a few thousand in inventory.

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

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Making valid passive income isnt as difficult as you may think. Some of the very best passive income ideas might take a little time to install but can begin money flowing within a few continue reading this months and will offer a consistent monthly income for many years or more. The most important point is simply to get started.

In part three of the series we'll discuss the differences between remaining income and passive income. Both of these terms click to read are often used interchangeably, but in reality they are not the same thing. There are some similarities, but there are also some large differences between remaining income and passive income.Before I move onto a part of the Residual Income Series. .

First, lets take 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 which you've already made. With passive income the person does not need to be directly involved with the money that they are making.

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

Residual 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 products online: This is one of the most common methods to earn residual income. It usually involves a fee which needs to be renewed each month per week, which will allow you to continue to make money after the initial sale.