The Ultimate Guide To Multiple Passive Income Streams

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I worked a traditional 9 to 5 job for many years and eventually I got burned out. Would you know what that feels like I knew that 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 clue where to start.

This pursuit led me to begin this blog in which I now make over $6,000 a month, but this is not the only way to produce residual income.

Passive Income Streams Can Be Fun For Anyone

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 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 using Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase 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 that you did once. I've got multiple income streams that are passive, many of which I will mention below.

By choosing the right sources 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 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 find out here now with something that fits your passion, experience, or skill-set.

Fascination About Crypto Wealth Building

Real estate can be a great way to make money while you sleep. But because it costs a lot to purchase a house, using a crowdfunding system to invest in real estate 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 see this here begin and you can invest in more than 48 real estate 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 free of charge you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.

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

Multiple Passive Income Streams for Dummies

Dividend income is money paid to investors of stocks 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, since 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, be certain that you educate yourself and pick solid stocks so that you can depend on for dividend income for many 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 a lot greater income outcomes than a typical savings or money market account.

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