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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 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 additionally 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 require any effort in any way, like investing with a robo advisor.Having passive income flows may not replace your entire salary in case you were to lose your job but having something coming in is far better than having nothing coming in.

Sorry, it doesnt usually work like that. While some people make a fantastic living from one form of passive income, its common that you will have small amounts from a couple of different sources coming in.Choose a couple of things that sound interesting to you and try them out. Try to select a few that do require any work as an e-commerce site and some that dont enjoy buying dividend yielding stocks.Something will emerge that you enjoy the most 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 each month but what we dont know is how long and effort went into that site 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 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 those greater effort ones and determine 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 this to invest.

There's no minimum to invest, the prices are low, between 0.25-0.40%, and also you dont need to know anything about money or investing to begin. Betterment provides automatic rebalancing and tax loss harvesting.To make things even simpler, 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 with them for as little as $1. Thats a 500 percent return, and its probably time you started investing in your future. They even have features like round-up and found money which lets you 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 eat 25% of your returns over 30 years.Not only will they slash your fees 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 Ask them.

Additionally, they will give your retirement accounts a free analysis so if youre of this DIY type you can simply take their suggestions and go implement it 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 you have, the smarter your investment decisions will be. You can use Personal Capital to track the performance of your investments throughout all your accounts. They also have a 401k fee analyzer. Weve talked in the past about how even seemingly small fees can eat into your retirement accounts.

Armed with that information, you can move your money to an account with lower fees, like Vanguard which charges only 0.20percent and has a list of excellent performance.We recommended you read did a complete review of Personal Capital and an overview of the 401k fee analyzer because we believe 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. Those with accounts over $500,000 will have a committed advisor.If youre looking for somewhere to begin, these are what we think would be 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 that you may receive dividends.