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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 quicker. However, with some time, its possible to make 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 scenarios it might be long-term recurring income, and in 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 require as much effort in the future when youre making the money.

Exactly 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, they all require an excessive amount of effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or from other people which youre paying.  Selling ebooks or classes will require on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are people who have been in a position to do it passively, but they make up a small percentage of people who actually 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 make money, I simply dont consider these to be more passive, in most cases. .

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

Now lets have a look at a few of the greatest ways to produce passive income. A number of these are investments which will need some money to begin with. Other folks wont require any money to begin. If you dont have the money to invest now, try starting with the approaches that dont need any money, and then utilize that money you make to invest. .

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Your very first financial priority must be to develop an emergency fund that will cover all your living expenses for a few months. But dont put this money Source is a checking 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 that will earn a much greater return for you.

My wife 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 buy more shares of this inventory, or take the dividends in money. Reinvesting will allow you to own more stocks, 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 history of success. Because of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest all the dividends on hold on to the stock for quite a long time, or use the income generated throughout the dividends.

For far more detail on the subject read Investing in Dividend Stocks at Investopedia. To get a list of those shares, 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 paired up through a site or market. Instead of going to a bank, the borrower receives a loan by an investor.

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