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I worked a traditional 9 to 5 job for many years and eventually I have burned out. Would you know what that feels like I knew I wanted more freedom and the notion of passive income became very appealing.

I had heard of many people quitting and replacing their fulltime job with passive income, but I had no idea where to get started.

This pursuit led me to start this blog where 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. Eliminate Debt5.  Open a High-Yield Account6. Compose a Book7. Rent out a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Money 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 Cell App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your Own 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 will mention below.

By choosing the his response ideal sources 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 so many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of these 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 terrific way to make money while you sleep. But because it costs so much to buy a house, using a crowdfunding platform to invest in real estate can be a more affordable option.

If you want an easy, low-cost way 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 real estate products through property investment trusts.

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

Even though they promote an option to start with $500, once you register free of charge you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of Recommended Reading $5.

Their intention is to produce real estate investing accessible to everyone and that's just what they're doing.

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Dividend income is money paid to shareholders of shares in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn a living with passive income, as they will get go to these guys payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you're going to go this route, make sure that you educate yourself and select solid stocks so that you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan additional people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you a lot higher income outcomes 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 these is that your money is liquid, which means you can take it out at anytime.