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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 I wanted more freedom and the idea of passive income became very appealing.

I had heard of many people quitting and replacing their full-time occupation with passive income, but I had no idea where to start.

This pursuit led me to begin this site in which I now make over $6,000 per month, but 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. Eliminate Debt5.  Open a High-Yield Account6. Write 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 using 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. Purchase an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over and over again for work which you did once. I have multiple income streams which are passive, many of that I will 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. Nonetheless, this is NOT one of those shady things. All these are legit ways 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 generate money while you sleep. However, since it costs so much to buy a home, using a crowdfunding system to invest in real estate check my reference can be a less expensive option.

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

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

Even though 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 which has a minimum investment of $5.

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

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Dividend income is money paid to investors of stocks in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for those Click This Link wanting to make a living with passive income, since they will get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

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

Peer-to-peer lending is when you loan other 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 greater 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 them is that your money is liquid, which means you can take it out at anytime.