Passive Income Streams for Dummies

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

I had heard of many people quitting and replacing their full-time occupation with passive income, but I had no idea 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 produce 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 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 Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Mobile App19. Rent Your Car for Ad Space20. our website 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 get paid over and over again for work that you did once. I have multiple income streams which are passive, many of which I shall mention below.

By choosing the ideal resources 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 ways for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.

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Real estate can be a terrific way to make money while you sleep. However, since it costs a lot to purchase a home, using a crowdfunding system to invest in property can be a less expensive option.

If you want an easy, low-cost method 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 Crypto Wealth Building products through real estate investment trusts.

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

Even though they promote an option to begin with $500, once you enroll free of charge 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 exactly what they are doing.

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Dividend income is money paid to shareholders of shares in the kind 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 are going to go this route, make sure you educate yourself and pick solid stocks so you can depend on for dividend income for 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 outcomes than a common savings or money market account.

If you are 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, which means that you can take it out at anytime.