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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 publications, videos, 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 in any way, such as investing with a robo advisor.Having passive income flows 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.

It doesnt usually work that way. While some people make a great living from one form of passive income, its more common that 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 choose a couple that do require some work as an e-commerce site and a few that dont like buying dividend yielding stocks.Something will appear which either you enjoy the most or is making the most money.

Put some 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 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 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 2 of those greater effort ones and see which work best for you.InvestingInvesting is your ultimate and most accessible type 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 is no minimum to investthe fees are low, between 0.25-0.40 percent, and also you dont have to know anything about money or investing to begin. Betterment provides 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 attributes like round-up and found money which allows you to 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 percent in fees can eat 25% of your returns over 30 years.Not only will they slash your charges 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 whether you should refinance your mortgage Request them.

Additionally, they will present your retirement accounts a free analysis so if youre of this DIY type you can just take their advice and go implement it yourself, weblink for free.Personal Capital: Personal Capital has a minimum that is out of reach for many of us, $100,000. The prices they charge will also be greater than a fellow robo advisors at 0.49-0.89 percent.

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And the more information you have, the smarter your investment decisions will be. You can use Personal Capital to monitor the performance of your investments throughout all of your accounts. They also have a 401k charge 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 lower fees, such as Vanguard which charges just 0.20% and has a list of excellent performance.We did a full review of Personal Capital and an overview of their 401k fee analyzer since 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. Those with accounts over $500,000 will have a committed advisor.If youre looking for a place to begin, all these are what we think are the ideal vanguard funds.  We also did an episode on which Vanguard is all about.Dividend Investing: Effort 1 When you own stock in a company directly or through a fund you may receive dividends.