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

Patreon is actually how the arts used to operate hundreds of years back. Back during the renaissance, artists used to ask the wealthy for their patrons to support their work through regular contributions.

So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of people interested in your work, another usage of a site that will double-duty with this passive income plan, and then ask them to make contributions every time you produce something. .

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Now patrons dont come away empty-handed, you provide benefits and copies of the work. So to get a writer, you might offer copies of your own books. You could promise to publicly 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 site 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 and they get cheerleaders that 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 is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to sell your own products.

It used to be 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, pack it and even set your tag on it. Then you simply run your advertising and market everything from your webpage on the worlds biggest internet shopping site.

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

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

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Making valid passive income isnt as difficult as you may think. A number of the best passive income ideas may take a little time to install but can begin Read More Here money flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is simply to begin.

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

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

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Residual income includes payments you will get following a purchase. Normally 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 movie or book once, but it can continue to be sold and resold again and again, which permits you to continue to make money from your job.

Residual income can eventually turn into passive income with time, as you can go to this website 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 of the most common methods individuals 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 make money after the initial sale.

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