Passive Income Streams - Questions

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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 sounds like I knew that I wanted more freedom and the idea of passive income became really appealing.

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

This pursuit led me to begin this blog in which I now make over $6,000 a month, however, 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. Compose a Book7. Rent out a Space in Your House8. Affiliate Marketing9. Produce 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 Mobile App19. Rent Your Car for Advertisement Space20. Buy an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your StuffSummary.

Passive income is where you get paid over and over again for work which you did once. I have multiple income streams that are passive, many of which I shall mention below.

By choosing the right 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 so many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit means for you to make 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. However, because it costs so much to buy a house, using a crowdfunding platform to invest in property can be a more affordable option.

If you want an easy, low-cost way to invest in income-producing commercial property, consider using a company like Fundrise.  You only check out here need $500 to begin and you can invest in more than 48 property products through real estate investment trusts.

Another company to consider is Rich Uncles since you can begin investing in real estate with just as little as $5.

Although they promote an option to begin with $500, once you register for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

Their goal 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 stocks in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn a living with passive income, since they'll get 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 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 using a company like Lending Club can get you much greater 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 offer $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, which means you can take it out at anytime.