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At first you may only be making a small amount of money passively, and you may even want to re-invest that money so it compounds and grows quicker. However, with some time, its potential to create enough passive income that you could quit your job or retire .

Passive income can be a bit of a divisive topic. In general, passive income is any money that you earn without putting in much work. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in some other instances it could be short lived or inconsistent.

In some cases youll need to put in some effort up front, but then it wont need as much effort in the long run when youre making the money.

Exactly what qualifies as passive income is up for debate. Most lists which youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my own opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or by others which youre paying.  Selling ebooks or classes will need on-going customer service, and youll need a consistent traffic source in order to continue to create sales. It is possible and there are people who have been in a position to get it done passively, but they compose a small percentage of people who actually set out to do it.

Ive been blogging full-time for 10 decades and Ive sold ebooks and courses in the past. Theyre great ways to make money, I just dont consider them to be more passive, in the majority of cases. .

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Nearly any business can be a source of passive income if youre paying other people to run the business. That is true with both online and traditional businesses. That opens up even more possibilities than that which will be listed find more here.

Now lets take a look at a few of the greatest ways to make passive income. A number of these are investments that will require some money to start with. Other folks wont need any money to get started. In case you dont have the money to invest now, consider starting with the methods that dont need any money, and then utilize that money you make to invest. .

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Your very first financial priority should be to build up an emergency fund that can cover all of your living expenses for a few months. But dont put this money would be a checking account or savings account at a local bank visit this page that pays you a horrible interest rate. You can open a high yield savings account or money market account with an online bank that will earn a much greater return for you.

My spouse and I keep our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85percent APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is quick and easy, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will allow you to own more shares, which leads to greater dividends in the future (ideally).

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The companies that consistently pay dividends tend to be large companies with a long track record of success. As a result of this, these investments tend to be considered less risky than the stock market in general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest each of the dividends on hold on to this stock for a long time, or make use of the income produced through the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of those stocks, visit this collection out of Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent years. Creditors and lenders can be paired up via a website or market. Instead of going to a bank, the debtor gets a loan from an investor.

In some cases the borrower might not be able to be eligible for a loan through a traditional bank. And in many cases the borrower gets a much better interest rate than they might receive from a bank. As an investor, you can earn a great return as well.