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Our next passive income idea is another twist on crowdfunding called Patreon. The site is promoted as a crowdfunding website 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 wealthy for their patrons to support their work through regular contributions.

So now the website Patreon provides you the opportunity to get patrons to your own works. You construct a community of individuals interested in your job, another use of a blog that will double-duty for this passive income plan, and then ask them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you offer rewards and copies of the work. So to get a writer, you might offer copies of your books. You could promise to thank patrons on your site 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 huge source of income. Take 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 would be a monthly income of almost $19,000 and 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 very exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. Together 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 simply run your advertising and sell everything from your page on the worlds largest internet shopping site.

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

Ive got a couple of interviews on the site from folks that have begun shops through Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 per month is easily attainable in less than that.

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Making valid passive income isnt as difficult as you might think. Some of the very best passive income thoughts may take a little time to set up but can start cash flowing within a few months and will offer a consistent monthly income for many years or more. The most important point is just to get started.

In part three of this series we'll go over the differences between remaining income and passive income. These two terms are often used interchangeably, but in reality they are not the same thing. There are a number of similarities, but there are also some big differences between residual income and passive 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 already made. With passive income the person does not have to be involved with the money they are making.

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Residual income includes payments you will receive following a sale. Usually these payments are agreed upon in advance and will continue long after the purchase. A fantastic instance of this is royalties that someone gets for a movie 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 make money from your work.

Residual income can click now eventually turn into passive income over time, as you can 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 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 usually involves a fee that needs to be renewed each month or week, which will make it possible for you to continue to create money after the initial sale.

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