Passive Income Streams for Dummies

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

I'd heard of many people quitting and replacing their full-time job with passive income, but I had no clue where to start.

This pursuit led me to start this site where I now make over $6,000 per month, however, 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. Eliminate Debt5.  Open a High-Yield Account6. Compose a Book7. Rent out a Room in Your House8. Affiliate Marketing9. Produce 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. Purchase a Vending Machine Business17.  License Your Photos18. Create a Cell App19. Rent Your Car for Advertisement Space20. Buy an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over redirected here and over again for work that you did once. I have multiple income streams that are passive, so many of which I shall mention below.

By choosing the right sources 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 many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of those shady things. These are legit means for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.

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Real estate can be a terrific way to generate money while you sleep. However, since it costs a lot to buy a home, using a crowdfunding platform to invest in real estate can be a more affordable option.

If you want an easy, low-cost way to invest in income-producing commercial property, consider using a company like Fundrise.  You only need $500 to get started and you can invest in more than 48 property products through property investment trusts.

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

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

Their intention is to produce real estate investing accessible to everyone and that is just what see it here they are doing.

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Dividend income is money paid to investors of shares in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn a living with passive income, as they will get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you are going to go this route, make certain that you educate yourself discover this and select solid stocks so that you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan additional 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 a lot higher income outcomes than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.