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

Patreon is really how the arts used to operate 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 for your own works. You build a community of people interested in your work, another use of a blog that will double-duty with this passive income plan, and then ask them to make contributions each time you produce something. .

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

Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Take a peek 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 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 really is one of the very 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 dollars for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across the country.

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

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

Ive got a couple of interviews on the site from folks that have begun shops through Amazon FBA. Some of them are making high-income incomes in less than a year so $5,000 per month is easily attainable in less than that.

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Making valid passive income isnt as hard as you might think. Some of the very best passive income ideas may take a little time to set up but can begin money flowing within a couple of months and will offer a consistent monthly income for many years or longer. The most important point is just to begin.

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

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

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Residual income includes payments that you will receive after a sale. Usually these payments have been agreed upon in advance and will continue long after the purchase. A good example of this is royalties that someone gets for a film 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 work.

Residual income can eventually turn into passive income with time, since you can eventually earn money without doing an excess work. .

Now that you know the differences between passive and residual income, It's time to learn about some Discover More Here 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 ways 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 create money after the initial sale.