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At first 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. However, with a few time, its potential to create enough passive income you could quit your job or retire .

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Passive income can be a small divisive topic. In general, passive income is any money that you make without putting in much work. 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 need as much effort in the future when youre making the money.

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 post because, in my own opinion, all of them 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, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are people who have been able to get it done , but they make up a small percentage of individuals who really set out to do it.

Ive been blogging fulltime for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider these to be more passive, in the majority of cases. .

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

Now lets have a look at a few of the best ways to make passive income. Some of these are investments which will need some money to start with. Others wont need any money to begin. If you dont have the money to invest now, try starting with the methods that dont need any money, and then use that money that you earn to invest. .

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Your very first financial priority should be to develop an emergency fund that will cover all of your living expenses for a couple months. But dont put this money is a checking account or savings account at a local bank which pays you a terrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a lot better return for you.

My spouse 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 1.85percent 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 to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this inventory, or take the dividends in cash. Reinvesting will allow you to own more shares, which contributes 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 the dividends on hold on to the stock for quite a long time, or use the income generated through the dividends.

For far more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of navigate to these guys those shares, see this collection out of Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) has become extremely popular in recent years. Borrowers and lenders can be matched up through a site or market. Instead of going to a bank, the debtor gets a loan from an investor.

In some cases 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 could get from a bank. As an special info investor, you can earn a good return as well.

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