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An escape from the 9-to-5  job. There are dozens of ways to generate passive income. Here are our favourite 31. Passive Income: What it is and Why You Want ItThere is a great deal of chatter in the personal finance world about passive income, why you need it and how good it is.

This includes royalties from books, videos, or songs and also revenue that comes from real estate investments or business investments where you dont need to be present to earn it.Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some dont take any effort at all, like investing using a robo advisor.Having passive income streams might not substitute your entire salary if you should lose your job but having something coming in is better than having nothing coming in.

It doesnt usually work that way. While some people today make a great living from one form of passive income, its common that you will have small amounts from a few different sources coming in.Choose a couple of things that sound interesting for you and try them out. Try to choose a few that do require any work as an e-commerce site and a few that dont enjoy buying dividend yielding stocks.Something will appear that either you enjoy the most or will be making the most money.

Put a little time and effort into it. We all hear stories about blogs making thousands of dollars a month but what we dont know is how long and effort went into that blog before it managed to break even, never mind make money.Get our very best money lessons:How to Use This ListEach suggestion is ranked by how much effort you need to put in up front until you could start seeing some money come in.

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You should try out a few of the low effort passive income thoughts and one or two of the higher effort ones and determine which work best for you.InvestingInvesting is your greatest and most accessible form of passive income. You can undoubtedly devote a lot of time to researching companies and markets, but you dont have to do that to invest.

There's no minimum to investthe prices are low, between 0.25-0.40 percent, and also you dont need to know anything about money or investing to get started. Betterment offers automatic rebalancing and tax reduction harvesting.To make things even easier, you can set up automatic deposits from your checking or savings account into your Betterment account.

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As it turns out, Acorns will pay you $5 to start investing together for as little as $1. Thats a 500 percent return, plus its probably time you began investing in your future. They even have features like round-up and found money which allows you to get free money from places you already shop at.

Chances are the funds in your account are loaded with charges and that will scare you because even 1% in fees can consume 25 percent of your returns over 30 years.Not only will they slash your fees so that you keep more for retirement, theyll also rebalance your portfolio based on your age and supply open-ended fiduciary grade advice.Want to know if you have to refinance your mortgage Ask them.

Additionally, they will give your retirement accounts a Home Page free analysis so if youre of the DIY kind you can simply take their advice and go implement it yourself, for free.Personal Capital: Personal Capital includes a minimum that's out of reach for many of us, $100,000. The fees they charge are also higher than a fellow robo advisers at 0.49-0.89%.

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And the more information that you have, the more intelligent your investment decisions will be. You can use Personal Capital to monitor the performance of your investments across all your accounts. They also have a 401k charge analyzer. Weve talked in the past about how even seemingly tiny fees can eat into your retirement accounts.

Armed with this information, you can move your money to an account with lower prices, such as Vanguard which charges just 0.20% and has a list of excellent performance.We did a complete review of Personal Capital and a review of their 401k fee analyzer because we feel its important.Vanguard: Vanguard has a minimum of $50,000 and a fee of 0.3%.

We included Vanguard because clients who invest between $50,000-$500,000 have access to a group of financial advisors. People who have accounts around $500,000 will have a committed advisor.If youre looking for a place to begin, all these are what we think are the best vanguard funds.  We also did an event on which Vanguard is about.Dividend Investing: Effort 1 When you own stock in a company directly or through a fund you will receive dividends.