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Initially you may only be making a small amount of money passively, and you might even want to re-invest that money so it compounds and grows faster. But with a few time, its possible to make enough passive income that you could quit your job or retire .

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

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

What qualifies as passive income is up for discussion. Most lists that youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my opinion, they all require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or by others that youre paying.  Selling ebooks or classes will need on-going customer service, plus youll need a consistent traffic supply 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 make up a small percentage of people who really set out to do it.

Ive been blogging fulltime for 10 decades and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider them to be more passive, in most 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. This opens up even more chances than that which will be listed here.

Now lets have a peek at some of the greatest ways to produce passive income. Some of these are investments which will need some money to begin with. Others 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 use that money that you make to invest. .

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Your first financial priority should be to build up an emergency fund that will cover all of your living expenses for a few months. But dont put this money would be a checking or savings account at a local bank 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 better return for you.

My wife and I maintain our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85% 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 to their shareholders. As a trader, you can re-invest the dividends to buy more shares of this inventory, or take the dividends in cash. Reinvesting will allow you to own more shares, which contributes my link to more 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 the dividends on hold on to the stock for a long time, or make use of the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. To get a list of these Recommended Reading shares, see this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent decades. Borrowers and lenders can be matched up via a site or marketplace. Instead of going to a bank, the borrower gets a loan from an investor.

In some cases the borrower may not have the ability to be eligible for a loan through a traditional bank. And More Info in many cases the borrower gets a much better interest rate than they could get from a bank. As an investor, you can earn a great return too.