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At first you may only be making a small amount of money passively, and you may even want to re-invest that money so it compounds and grows quicker. However, with some time, its potential to create enough passive income 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 make 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 other cases it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont require 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 thoughts 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 constantly need on-going work, either by yourself or from others which youre paying.  Selling ebooks or courses will need on-going customer service, and youll need a consistent traffic supply in order to continue to make sales. It is possible and there are individuals who've been in a position to get it done , but they compose a small percentage of individuals who really set out to get it done.

Ive been blogging full-time for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply dont consider them to be 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. This opens up even more possibilities than that which will be listed here.

Now lets take a look at a few of the greatest ways to make passive income. Some of these are investments which will need some money to begin with. Others wont require any money to get started. If you dont have the money to invest now, try starting with the methods that dont require 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 your living expenses for a couple months. But dont put this money would be 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 that will earn a lot greater return for you.

My spouse and I keep our emergency fund check here 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 fast and simple, 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 the inventory, or take the dividends in cash. Reinvesting will allow you to 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 terrific investment regardless of whether you want to reinvest each the dividends on hold on to the stock for quite try these out a long time, or use the income produced through the dividends.

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

In some situations the borrower might not be able to be eligible for a loan through a traditional bank. And in many cases the borrower gets a much better interest rate than they might receive from a bank. As an investor, you can earn a great return too.