Passive Income Streams Can Be Fun For Anyone

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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Do you know what sounds like that I knew I wanted more freedom and the idea of passive income became very appealing.

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

This pursuit led me to start this site in which I now make over $6,000 per month, but this is not the only way to produce residual income.

Some Known Questions About Passive Income Streams.

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. Write a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Rewards Shopping Sites12.  Create an Online Store with Drop Shipping13.

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

Passive income is where you get paid over and over again for work that you did once. I have multiple income streams which are passive, so many of which 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 way of buying back more time.

There are many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All these are legit means for you to make money while you sleep using something that fits your passion, experience, or skill-set.

The Only Guide to Build A Network Marketing Team

Real estate can be a terrific way to generate money while you sleep. But since it costs so much to purchase a house, using a crowdfunding platform to invest in property can be a more affordable option.

If you want an easy, low-cost method to invest in income-producing commercial property, consider using a Visit Your URL 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 begin investing in real estate with just as little as 5.

Although they promote an option to begin with $500, once you enroll for free you can navigate their offerings. They really 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 they're doing.

Multiple Passive Income Streams for Beginners

Dividend income is money paid to shareholders of stocks in the form of money 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're going to go this route, be certain you educate yourself and select solid stocks so you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan other people 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're looking for a lower risk option, check out Worthy. They provide $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.