Fascination About Multiple Passive Income Streams

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I labored a traditional 9 to 5 job for many years and eventually I have burned out. Do you know what sounds like that 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 idea where to start.

This pursuit led me to start this blog in which I now make over $6,000 per month, but 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. Get Out of Debt5.  Open a High-Yield Account6. Write a Book7. Rent out a Room 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 Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Ad Space20. Purchase 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 click here to read get paid over and over again for work that you did once. I've got multiple income streams which are passive, so many of which I will mention below.

By choosing the ideal resources of passive income, you can invest your time the way that 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 those shady things. These are legit means for you to earn money while you sleep with something that satisfies your passion, experience, or skill-set.

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Real estate can be a great way to make money while you sleep. However, 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 real estate, consider using a company like Fundrise.  You only need $500 to get started and you can invest in more than 48 property products through real estate investment trusts.

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

Even though 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 make real estate investing available to everyone and that is just what they're doing.

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Dividend income is money paid to shareholders of shares in the form of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living with passive income, as they'll 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 certain you educate yourself and pick solid stocks so that you can depend on for dividend income for 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 common savings or money market account.

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