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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 operate hundreds of years back. Back during the renaissance, artists used to ask the wealthy to be 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 construct a community of people interested in your work, another use of a blog that will double-duty with this passive income strategy, and then request them to make contributions each time you create something. .

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Now patrons dont come away empty-handed, you offer benefits and copies of this job. So to get a writer, you could offer copies of your books. You can promise to publicly thank patrons on your blog or to promote something of theirs in the long run.

Even if every 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 for 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 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 through 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 bucks for manufacturing, marketing, logistics, everything that went into selling solutions. Together 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 set your label on it. Then you simply run your advertising and sell everything from the page on the worlds biggest internet shopping site.

Amazon FBA provides you the opportunity to compete with 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 who have started shops through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 a month is readily achievable in less than that.

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Making legitimate passive income isnt as hard as you may think. A number of the best passive income thoughts might take a little time to install but can start money flowing within a couple of months and will provide a consistent monthly income for years or longer. The most important point is simply to get started.

In part three of this series we'll go over the differences between remaining income and passive income. These two terms are often used interchangeably, but in fact they are not the exact same thing. There are a number of similarities, but there are also some big differences between residual income and passive income.Before I proceed onto a part of the Residual Income Series. .

First, lets take a peek at what passive income is. Passive income basically includes any money you earn without doing any job. Often times this money comes in investments of time or money that you have made. With passive income that the person does not need to be directly involved with the money they are making.

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Residual income includes payments you will receive after 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 to get a film or book. They only write the film or navigate to this site book once, but it can continue to be sold and resold again and again, which permits you to continue to create money from your job.

Earning income can eventually turn into passive income with time, as you can eventually earn money without doing an extra work. .

Now that you know the differences between passive and residual income, it is 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 usually involves a fee that needs to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.