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Our next passive income idea is another twist on crowdfunding called Patreon. The website is encouraged as a crowdfunding site 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 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 acquire patrons for your own works. You construct a community of people interested in your job, another usage of a blog that does double-duty with this passive income plan, and then request them to make contributions each time you produce something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of the work. So to get a writer, you could offer copies of your own books. You can promise to thank patrons on your blog or to market something of theirs in the long run.

Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Have a look at the Patreon site for Kinda Funny, an internet video company. They've over 6,209 patrons that means an average of just $3 a month are a monthly income of nearly $19,000 and they get cheerleaders which are always happy to spread the word on their brand. .

Our last passive income source is creating your own brand and selling through Amazon FBA. This really is one of the most exciting income thoughts 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 solutions. With Amazon FBA, you contract with a manufacturer to send everything directly to Amazon warehouses across the country.

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The manufacturer is going to put everything together, package it and even put your label on it. Then you simply 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 with your name stitched across the pocket, so you can now get started for only a few thousand in inventory.

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

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

In part three of the series we will discuss the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in reality they are not the exact same thing. There are a number of similarities, but there are also some big differences between remaining income and passive income income.Before I proceed onto part of the Residual Income Series. .

First, lets have a peek at what passive income is. Passive content income basically includes any money that you earn without doing any work. Often times this money comes from investments of time or money which you've already made. With passive income that the person does not need to be directly involved with all the money that they are making.

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Residual income includes payments that you will receive after a sale. Normally these payments are agreed upon in advance and will continue long after the purchase. A good instance of this is royalties that someone gets to get a film or book. They only write the movie or book once, but it can continue to be sold and resold again and again, which allows you to continue to create money from your job.

Residual 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 normally involves a fee that has to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.

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