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At first you may only be making a tiny 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 possible 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 effort. The money will flow in without too much being required of you. In some cases it might be long-term recurring income, and in some other instances it could be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont need just 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 like blogging, writing e-books, or creating your own course. Im not including those ideas in this informative article because, in my own opinion, they all require an excessive amount of effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or by other people which youre paying.  Selling ebooks or classes will require on-going customer service, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are people who have been in a position to do it , but they compose a small percentage of individuals who really set out to get it done.

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

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Just about any business can be a source of passive income if youre paying others to run the business. This is true with both online and traditional businesses. That opens up even more possibilities than that which will be recorded here.

Now lets have a peek at a few of the greatest ways to make passive income. A number of these are investments which will need some money to start with. Others wont require any money to get started. If you dont have the money to invest now, consider starting with the approaches that get more dont need any money, and then use that money you make to invest. .

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Your first financial priority should be to develop an emergency fund that can cover all of your living expenses for a couple months. But dont put this money would be a checking account or savings account at a local bank that 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 much 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 trader, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in cash. Reinvesting will let you own more stocks, 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. Because of this, these investments tend to be considered less risky 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 make use of the income generated throughout 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 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 years. Creditors and lenders can be matched up through a website or marketplace. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower might not have the ability to be eligible for a loan via a this website traditional bank. And in many cases the debtor gets a better interest rate than they might get from a bank. As an investor, you can earn a good return too.