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An escape in the 9-to-5  job. There are dozens of ways to generate passive income. Here are our favorite 31. Passive Income: What it is and Why You Want ItThere is a lot of chatter in the personal finance world about passive income, why you need it and how great 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 thoughts 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 may not replace your entire salary in case you should lose your job but having something coming in is far better than having nothing coming in.

Sorry, it doesnt usually work like that. Though some people make a great living from one kind of passive income, its more common that you will have small amounts from a few different sources coming in.Choose a few things that sound interesting to you and try them out. Try to select a few that do need some work as an e-commerce website and some that dont like buying dividend yielding stocks.Something will appear which either you enjoy the maximum or will be making the most money.

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

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You ought to try out some of the low effort passive income thoughts and one or two of the greater attempt ones and see which work best for you.InvestingInvesting is the ultimate and most accessible type of passive income. You can undoubtedly devote lots of time to researching companies and click resources markets, but you dont have to do that to invest.

There is no minimum to invest, the prices are low, between 0.25-0.40%, and you dont need to know anything about money or investing to begin. Betterment offers automatic rebalancing and tax loss harvesting.To make things even easier, you can set up automatic deposits from your checking account or savings account into your Betterment account.

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

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

Plus, they will give your retirement accounts a image source free analysis so if youre of the DIY type you can just take their advice and go implement it for free.Personal Capital: Personal Capital includes a minimum that is out of reach for many of us, $100,000. The prices they charge are also higher than some fellow robo advisers at 0.49-0.89 percent.

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And the more information you have, the more intelligent your investment decisions will be. You can use Personal Capital to monitor the performance of your investments throughout all of your accounts. Additionally they also have a 401k fee 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 reduced fees, such as Vanguard which charges only 0.20percent and has a list of excellent performance.We did a full overview of Personal Capital and a review of their 401k fee analyzer because we believe its so important.Vanguard: Vanguard includes 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 over $500,000 will have a dedicated advisor.If youre looking for a place to start, these are find here what we think would be the ideal vanguard funds.  We also did an event on what Vanguard is about.Dividend Investing: Effort 1 When you own stock in a company directly or through a fund that you will receive dividends.