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I worked a traditional 9 to 5 job for many years and eventually I have burned out. Do you know what sounds like that I knew I wanted more freedom and the idea of passive income became really appealing.

I had heard of many people quitting and replacing their fulltime occupation with passive income, but I had no clue where to start.

This pursuit led me to start this site in which I now make over $6,000 a month, but this is not the only way to make residual income.

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Table of ContentsWhat exactly is passive incomePassive Income Ideas1. Invest in Crowdfunded Real Estate2. Dividend Income3. Peer-to-Peer Lending4. Eliminate Debt5.  Open a High-Yield Account6. Write a Book7. Rent a Room in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Benefits Shopping Sites12.  Create an Online Store with Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase find out here now a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over and over again for work that you did once. I've got multiple income streams which are passive, many of that I will mention below.

By choosing the ideal sources of passive income, you can invest your time the way which you want to. Passive income is a method of buying back more time.

There are so many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit means for you to earn money while you sleep with something that fits your passion, experience, or skill-set.

6 Simple Techniques For Passive Income Streams

Real estate can be a terrific way to make money while you sleep. However, because it costs so much to purchase a home, using a crowdfunding platform to invest in property can be a less expensive option.

If you want an easy, low-cost method to invest in income-producing commercial real browse around here estate, consider using a company like Fundrise.  You only need $500 to begin and you can invest in more than 48 real estate products through property investment trusts.

Another company to consider is Rich Uncles as you can begin investing why not try this out in real estate with as small as $5.

Even though they promote an option to begin with $500, once you enroll for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

Their goal is to produce real estate investing available to everyone and that's just what they are doing.

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Dividend income is money paid to investors of stocks in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn a living with passive income, as they will get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you are going to go this route, be certain that you educate yourself and select solid stocks so you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan additional folks money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a company like Lending Club can get you much higher income results than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.