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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 good it is.

This includes royalties from publications, movies, or songs and also revenue that comes from real estate investments or business investments in which you dont have 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 require any effort at all, like investing with a robo advisor.Having passive income streams might not replace your entire salary in case you should lose your job but having something coming in is better than having nothing coming in.

It doesnt usually work that way. Though some people today make a fantastic living from one kind of passive income, its more common 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 select a few that do require some work as an e-commerce site and a few that dont like buying dividend yielding stocks.Something will appear that you enjoy the maximum or is making the most money.

Put some time and effort into it. Most of us 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 was able 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 might begin seeing some money come in.

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You should try out some of the low effort passive income thoughts and one or two of those higher attempt ones and see which work best for you.InvestingInvesting is your ultimate 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 invest, the 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 provides automatic rebalancing and tax loss 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, and its probably time you started investing for 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 fees and that will scare you even 1 percent in fees can eat 25 percent 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 have to refinance your mortgage Request them.

Plus, they will give your retirement accounts a free analysis so if youre of this DIY kind you can just 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 prices they charge will also be higher than some fellow robo advisors at 0.49-0.89%.

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

Equipped with that information, you can move your money to an account with reduced fees, like Vanguard which charges only 0.20% and has a record of excellent performance.We did a complete review of Personal Capital and an overview of the 401k fee analyzer because we believe its important.Vanguard: Vanguard has 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. Those with accounts over $500,000 will have a dedicated advisor.If youre looking for somewhere to begin, all these are what we think are the ideal vanguard funds.  We also did check it out an episode on which Vanguard is all about.Dividend Investing: Effort 1 When you own stock in a company directly or through a fund that you may receive dividends.