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Our next passive income idea is another twist on crowdfunding known as Patreon. The site is encouraged as a crowdfunding website for creative people like artists and writers but its own 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 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 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 ask them to make contributions every time you produce something. .

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Now patrons dont come off empty-handed, you offer rewards and copies of the work. So to get a writer, you could offer copies of your books. You can promise to thank patrons on your site or to market 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. Have a look at the Patreon page to get Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $3 a month are a monthly income of nearly $19,000 plus they get cheerleaders that are always pleased to spread the word on their brand. .

Our past passive income source is creating your own brand and selling via 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 bucks for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses across 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 market everything from your webpage 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, move over Hasbro. Want a line of blue jeans with your name stitched across the pocket, so you can now begin for only a few thousand in inventory.

Ive got a few 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 a month is easily achievable in less than that.

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Making legitimate passive income isnt as difficult as you might think. Some of the best passive income ideas might take a little time to install but can begin money flowing within a few months and will offer a consistent monthly income for many years or longer. The most important point is just to begin.

In part three of the series we'll go over the differences between remaining income and passive income. Both of these phrases 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 large differences between remaining income and passive income income.Before I proceed onto part of the Residual Income Series. .

First, lets take read review a look at what passive income is. Passive income basically includes any money that 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 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 following a sale. Normally these payments are agreed upon in advance and will continue long after the purchase. A good example 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 allows you to continue to create money from your work.

Earning income can eventually turn into passive income over time, since 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 ways to earn residual income. It usually involves a fee that needs to be renewed each month per week, which will allow you to continue to create money after the initial sale.