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An escape from 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 good it is.

This includes royalties from books, movies, or songs and also revenue that comes from property 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 require any effort in any way, such as investing with a robo advisor.Having passive income streams might not replace your entire salary if you were to lose your job but having something coming in is better than having nothing coming in.

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

Put some 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 site 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 before you could start seeing some money come in.

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

There is no minimum to invest, the prices are reduced, between 0.25-0.40%, and you dont need to know anything about money or investing to get started. Betterment provides automatic rebalancing and tax loss harvesting.To make things even simpler, blog here you can set up sites 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 percent return, plus its likely time you started investing in your future. They even have features like round-up and found money that allows you to find free money from places you already shop at.

Chances are the funds in your account are loaded with charges and that should scare you because even 1 percent 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 supply open-ended fiduciary grade advice.Want to know if you have to refinance your mortgage Request them.

Additionally, they will present your retirement accounts a free analysis so if youre of the DIY kind you can just take their advice and click to investigate go implement it yourself, 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%.

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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 track the performance of your investments throughout all of your accounts. Additionally they also have a 401k charge analyzer. Weve talked in the past about how even seemingly small fees can eat into your retirement accounts.

Equipped with that information, you can move your money to an account with reduced prices, like Vanguard which charges just 0.20% and has a list of excellent performance.We did a complete overview of Personal Capital and a review of the 401k fee analyzer because we feel its important.Vanguard: Vanguard includes a minimum of $50,000 and a commission of 0.3%.

We included Vanguard because clients who invest between $50,000-$500,000 have access to a team of financial advisors. People who have accounts around $500,000 will have a dedicated advisor.If youre looking for a place to start, these are what we think are 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 may receive dividends.