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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 great deal of chatter in the personal finance world about passive income, why you need it and how great it is.

This includes royalties from publications, movies, or songs and also revenue that comes from property investments or business investments in which you dont need to be present to earn it.Some passive income ideas take a degree of upfront work to earn, such as writing an e-book and a few dont require any effort at all, like investing with a robo advisor.Having passive income streams might not replace your entire salary if you should lose your job but having something coming in is far better than having nothing coming in.

It doesnt usually work like that. Though some people make a fantastic living from one kind of passive income, its more common that you will have small amounts from a couple of different sources coming in.Choose a couple of things that sound interesting for you and try them out. Try to choose a couple that do require any work as an e-commerce website and some that dont enjoy buying dividend yielding stocks.Something will emerge which you enjoy the maximum or is making the most money.

Put a little time and effort into it. We all hear stories about blogs making thousands of dollars each 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 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 low effort passive income ideas and one or 2 of the greater effort ones and determine which work best for you.InvestingInvesting is the greatest 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 investthe fees are reduced, between 0.25-0.40%, and also you internet dont have to know anything about money or investing to begin. Betterment offers automatic rebalancing and tax reduction harvesting.To make things even simpler, 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 begin investing with them for as little as $1. Thats a 500 percent return, plus its likely time you started investing in your future. They even have attributes 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 filled with charges and that should scare you even 1% in fees can consume 25% 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.

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

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And the more information you have, the smarter your investment decisions see this website will be. You can use Personal Capital to monitor the performance of your investments throughout all of your accounts. 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 description with lower fees, like Vanguard which charges only 0.20% and has a record of excellent performance.We did a complete overview of Personal Capital and a review of their 401k fee analyzer since we feel 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 around $500,000 will have a committed advisor.If youre looking for somewhere to start, these are what we think would be the best vanguard funds.  We also did an episode on which Vanguard is about.Dividend Investing: Effort 1 When you own stock in a company directly or through a fund you may receive dividends.