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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 its for anyone with a side-hustle idea.

Patreon is actually how the arts used to operate hundreds of years ago. 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 individuals interested in your job, another use of a site that does double-duty with this passive income plan, and then request them to make contributions every time you produce something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of this work. 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 future.

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 page to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of almost $19,000 plus they get cheerleaders that are always pleased to spread the word on their brand. .

Our last passive income source is creating your own brand and selling through Amazon FBA. This is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to market your own products.

It used to be 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 directly to Amazon warehouses across the country.

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The manufacturer is going to put everything together, pack it and even set 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 you the opportunity to compete with all the biggest names in retail. Always wanted to start you can try here a toy company, proceed over Hasbro. Want a line of jeans along with your name stitched across the pocket, you can now begin for only a few thousand in inventory.

Ive got a couple of interviews on the blog from people who have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $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 may take a little time to set up but can begin money flowing within a few months and will offer a consistent monthly income for years or longer. The most important point is simply to begin.

In part three of this series we'll go over the differences between residual income and passive income. These two 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 move onto a part of the Residual Income Series. .

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

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Residual income includes payments that you will get following a sale. Usually these payments are agreed upon in advance and will continue long after the purchase. A good example of this is royalties that someone gets to get 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 permits you to continue to create money from your work.

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

Now that you know the differences between passive and residual income, It's 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 per week, which will site link allow you to continue to create money after the initial sale.

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