Passive Income Streams Can Be Fun For Anyone

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

I'd heard of many people quitting and replacing their fulltime occupation with passive income, but I had no idea where to get started.

This pursuit led me to start this site in which I now make over $6,000 per 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. Get Out of Debt5.  Open a High-Yield Account6. Write a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create 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 Run it16. Buy a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase a Laundromat22. Open a find out 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 that are passive, so many of that I will mention below.

By choosing the right resources 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 these shady things. All these are legit means for you to make money while you sleep with something that fits your passion, experience, or skill-set.

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Real estate can be a terrific way to generate money while you sleep. However, because it costs a lot to purchase a house, using a crowdfunding platform 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 real estate, 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 real estate investment trusts.

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

Although they promote an option to start with $500, once you enroll free of charge you can navigate their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.

Their intention is to make real estate investing accessible to everyone and that's exactly what they're doing.

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

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

Peer-to-peer lending is when you loan other 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 greater income outcomes than a common savings or money market account.

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