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

Patreon is really how the arts used to operate hundreds of years back. Back during the renaissance, artists utilized 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 individuals interested in your job, another use of a site that will double-duty with this passive income strategy, and then ask them to make contributions each time you create something. .

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Now patrons dont come off empty-handed, you offer benefits and copies of this work. So to get a writer, you could offer copies of your books. You can promise to thank patrons on your site or to promote something of theirs in the future.

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 site for Kinda Funny, an internet video company. They've over 6,209 patrons which means an average of only $3 a month would be a monthly income of nearly $19,000 plus they get cheerleaders which are always happy to spread the word on their brand. .

Our past passive income source is creating your own brand and selling through 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 was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses throughout the country.

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

Amazon FBA provides visit homepage 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 with your name stitched across the pocket, you can now get started for just a few thousand in inventory.

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

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Making valid passive income isnt as difficult as you might think. Some of the best passive income thoughts might take a little time to set up but can start money flowing within a few months and will provide a consistent monthly income for many years or more. The most important point is just to get started.

In part three of the series we'll discuss the differences between remaining income and passive income. Both of these terms are often used interchangeably, but in fact they are not the same thing. There are some similarities, but there are also some big differences between residual income and passive income income.Before I proceed onto part of the Residual Income Series. .

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

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Residual income includes payments you will get following a purchase. Normally these payments are agreed upon in advance and will continue long after the sale. A good example 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 over 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 goods online: This is one of the most common methods to earn residual income. It normally involves a fee which has to be renewed each month or week, which will allow you to continue to make money after the initial sale.