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Initially you may only be making a tiny amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. However, with a few time, its potential 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 demanded of you. In some scenarios it could be long-term recurring income, and in some other cases it might be short lived or inconsistent.

In some cases 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 ideas 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 always need on-going work, either by yourself or from other people that youre paying.  Selling ebooks or classes will require on-going customer support, plus youll need a consistent traffic supply in order to continue to create sales. It's possible and there are people who've been in a position to get it done passively, but they make up a small percentage of people who actually 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 simply dont consider these to be passive, in most cases. .

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

Now lets take a peek at some of the best ways to make passive income. A number of them are investments which will require some money to begin with. Others wont need any money to begin. If you dont have the money to invest now, consider starting with the methods that dont need any money, and then use that money you find out this here make to invest. .

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Your very first financial priority must be to build up an emergency fund that can cover all of your living expenses for a few months. But dont put this money is a checking account 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 greater return for you.

My wife 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 fast and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the stock, or take the dividends in money. Reinvesting will let you own more shares, which contributes 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 check this than the stock market in general.

Dividend stocks can be a great investment whether or not you want to reinvest all of the dividends on hold on to the stock for a long time, or use the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of those shares, 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 decades. Creditors and lenders can be paired up via a website or marketplace. Instead of going to a bank, the borrower gets a loan by an investor.

In some situations the borrower may not have the ability to qualify for a loan through a traditional bank. And in many cases the borrower gets a better interest rate than they might receive from a bank. As an investor, you can earn a good return as well.