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

I'd heard of many people quitting and replacing their fulltime occupation with passive income, but I had no clue where to get started.

This pursuit led me to begin this site in which I now make over $6,000 a 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 a Space 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 using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Advertisement Space20. Purchase an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

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

By choosing the ideal 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 earn money while you sleep with something that fits your passion, experience, or skill-set.

The Definitive Guide to Passive Income Streams

Real estate can be a terrific way to generate money while you sleep. However, since it costs so much to buy a house, using a crowdfunding system to invest in real estate can be a less expensive 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 real estate products through property investment trusts.

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

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

Their intention is to make real estate investing accessible to everyone and that is exactly what they are doing.

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Dividend income is money paid to investors of shares in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, since over at this website 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, be sure that you educate yourself and pick solid stocks so 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 much higher income results than a typical savings or money market account.

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