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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 faster. But with some time, its potential 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 demanded of you. In some cases it might be long-term recurring income, and in some other instances it might 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.

What qualifies as passive income is up for discussion. 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 an excessive amount of effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or by others which youre paying.  Selling ebooks or courses will require on-going customer support, and youll need a consistent traffic supply in order to continue to make sales. It is 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 full-time for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just 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 when youre paying pop over to these guys other people to run the business. This is true with both online and traditional businesses. This opens up even more chances than that which will be recorded here.

Now lets take a look at some of the greatest ways to produce passive income. A number of them are investments that will need some money to begin with. Others wont require 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 utilize that money that you make to invest. .

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Your first financial priority must be to build up an emergency fund that will cover all your read this living expenses for a few months. But dont put this money would be a checking 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 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 1.85% APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is fast and easy, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a shareholder, you can re-invest the dividends to buy more shares of the stock, or take the dividends in money. 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 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 terrific investment regardless of whether you want to reinvest all the dividends on hold on to this stock for quite a long time, or use the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of those shares, visit this collection out of 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. Borrowers and lenders can be paired up through a site or market. Instead of going to a bank, the debtor gets a loan by an investor.

In some situations the borrower might not have the ability to be eligible for a loan through a traditional bank. And in many circumstances the debtor gets a better interest rate than they could receive from a bank. As an investor, you can earn a great return as well.