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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. But with some time, its potential to make 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 you earn without putting in much work. The money will flow in without too much being demanded 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 cases youll need to put in some effort up front, but then it wont need just as much effort in the future when youre making the money.

What qualifies as passive income is up for discussion. Most lists that youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those ideas in this informative article because, in my opinion, all of them 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 others which youre paying.  Selling ebooks or courses will require on-going customer support, plus youll need a consistent traffic source in order to continue to make sales. It's possible and there are people who've been in a position to do it passively, but they make up a small percentage of individuals who actually set out to do it.

Ive been blogging fulltime 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 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. That opens up even more possibilities than that which will be listed here.

Now lets take a look at a few of the best ways to produce passive income. Some of them are investments that will require some money to begin with. Other folks wont need any money More Help to begin. In case you dont have the money to invest now, consider starting with the methods that dont require any money, and then use that money that you earn to invest. .

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Your 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 would be a checking account or savings account at a local bank which pays you a horrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a much greater return for you.

My spouse and I maintain our emergency fund in a money market account with CIT Bank. At the view publisher site 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 simple, 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 this inventory, or take the dividends in cash. Reinvesting will let you own more shares, which leads 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 history 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 great investment whether or not you want to reinvest all the dividends on hold on to the stock for a long time, or make use of the income produced through the dividends.

For far more detail on Get More Info the topic read Investing in Dividend Stocks at Investopedia. To get a list of these stocks, visit this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) has become extremely popular in recent decades. Creditors and lenders can be paired up via a site or marketplace. Instead of going to a bank, the debtor gets a loan by an investor.

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