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Our next passive income idea is another twist on crowdfunding called Patreon. The website is encouraged as a crowdfunding website for creative people like artists and writers but its for anyone with a side-hustle idea.

Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists used to ask the rich 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 job, another usage of a blog that will double-duty for this passive income plan, and then request them to make contributions every time you produce something. .

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Now patrons dont come away empty-handed, you provide benefits and copies of this job. So for a writer, you might offer copies of your own books. You could promise to publicly thank patrons on your site or to promote something of theirs in the future.

Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Take a peek at the Patreon site to get Kinda Funny, an internet video company. They've over 6,209 patrons that means an average of only $3 a month would be a monthly income of almost $19,000 and 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 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 was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, pack it and even set your tag on it. Then you just run your advertising and sell everything from your page on the worlds largest internet shopping site.

Amazon FBA gives you the opportunity to compete with the biggest names in retail. Always wanted to start a toy company, move over Hasbro. Want a line of jeans along with your name stitched across the pocket, so you can now get started for just a couple of thousand in inventory.

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

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Making why not try these out valid passive income isnt as difficult as you may think. Some of the very best passive income ideas might take a little time to set up but can begin cash flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is just to get started.

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 reality they are not the same thing. There are a number of similarities, but there are also some large differences between remaining income and passive income.Before I proceed onto part of the Residual Income Series. .

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

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Residual income includes payments you will receive following a sale. Normally these payments have been agreed upon in advance and will continue long after the purchase. A fantastic instance of this is royalties that someone gets to get a movie 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 make 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 products 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 make money after the initial sale.