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

I had heard of many people quitting and replacing their full-time occupation with passive income, but I had no clue where to get started.

This pursuit led me to start this blog in which I now make over $6,000 a month, however, this is not the only way to produce 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 Space in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Money 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. Produce a Mobile App19. Rent Your Car for Advertisement Space20. Buy an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your StuffSummary.

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

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

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

The Definitive Guide to Network Marketing Success

Real estate can be go to website a great way to make money while you sleep. However, since it costs a lot to purchase a house, using a crowdfunding system to invest in real estate can be a less expensive option.

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

Another company to consider is Rich Uncles since you can begin investing in real estate with as small as $5.

Although they promote an option to begin with $500, once you enroll for free you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.

Their goal is to make real estate investing available to everyone and that is exactly what they're doing.

Multiple Passive Income Streams - An Overview

Dividend income is money paid to investors of shares in the form of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living with passive income, since they will get payouts each quarter or so. Even Visit This Link Warren Buffet historically is a fan of dividend-paying stocks. .

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

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

If you are looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5% return. One unique thing about them is that your money is liquid, so that you can take it out at have a peek at this site anytime.