How Multiple Passive Income Streams can Save You Time, Stress, and Money.

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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 that 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 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. Eliminate Debt5.  Open a High-Yield Account6. Write a Book7. Rent a Room in Your House8. Affiliate Marketing9. Produce 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 Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Advertisement Space20. Buy an Existing Online Business21. Buy 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 which you did once. I have multiple income streams that are passive, so many of that I shall 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 method of buying back more time.

There are many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. All these are legit means for you to earn 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 generate money while you sleep. However, because it costs so much to purchase a home, using a crowdfunding system to invest in real estate can be a more affordable option.

If you want an easy, low-cost method to invest in income-producing commercial real estate, 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 as you can begin investing in real estate with just as little as $5.

Although they promote an option to start 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 goal is to produce real estate investing accessible to everyone and that's exactly what they are doing.

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Dividend income is money paid to investors of stocks in the form of cash in your bank account. Dividend-paying stocks are especially enticing for those 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, be sure i loved this 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 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 higher 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% return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.