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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 idea.

Patreon is really how the arts used to operate hundreds of years back. 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 for your own works. You construct a community of individuals interested in your job, another usage of a blog that does double-duty with this passive income plan, and then request 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 the work. So to get a writer, you might offer copies of your own books. You can promise to publicly thank patrons on your site 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. Have a peek at the Patreon site 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 almost $19,000 and 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 most 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 products. Together with Amazon FBA, you contract with a manufacturer to send everything directly 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 sell everything from the page on the worlds biggest 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 jeans with your name stitched across the pocket, you can now begin for only a few thousand in inventory.

Ive got a few interviews on the site from folks that have started shops through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 a month is easily attainable in less than that.

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Making valid passive income isnt as hard as you might think. Some of the best passive income ideas might take a little time to install but find here can start cash flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is simply to get started.

In part three of this series we will discuss the differences between remaining income and passive income. These two terms 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 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 basically includes any money that you earn without doing any job. Often times this money comes in investments of time or money that you read this post here have made. With passive income the person does not have to be directly involved with the money that they are making.

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Residual income includes payments that you will receive after a purchase. Normally these payments have been agreed upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets to get 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 job.

Earning income can eventually turn into passive income with 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 that needs to be renewed each month per week, which will allow you to continue to make money after the initial sale.