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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 faster. But with some time, its possible to create enough passive income you could quit your job or retire .

Passive income can be a small divisive topic. In general, passive income is any money you make 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 might be short lived or inconsistent.

In some cases youll need to put in some effort up front, but then it wont require as much effort in the long run when youre making the money.

Exactly what qualifies as passive income is up for debate. 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 opinion, they all require too much effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or from 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 create sales. It's possible and there are individuals who have been in a position to do it , but they make up a small percentage of people who actually set out to get it done.

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 these to be more passive, in the majority of cases. .

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Nearly any business can be a source of passive income when youre paying other people to run the business. That is true with both online and traditional businesses. This opens up even more chances than that which will be recorded view here.

Now lets take a look at some of the best ways to make passive income. A number of them are investments which will need some money this to start with. Other folks wont require any money to begin. If you dont have the money to invest now, consider starting with the methods that dont need any money, and then use that money you earn to invest. .

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Your very first financial priority should be to develop an emergency fund that can cover all 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 you could check here 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 fast and easy, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to purchase more shares of the stock, or take the dividends in money. Reinvesting will let you own more shares, 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 great investment whether or not you want to reinvest each the dividends on hold on to the stock for a long time, or make use of the income generated through the dividends.

For far more detail on the subject read Investing in Dividend Stocks at 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) has become extremely popular in recent decades. Creditors and lenders can be matched up through a website or marketplace. Instead of going to a bank, the borrower gets a loan by an investor.

In some cases the borrower might not be able to be eligible for a loan via a traditional bank. And in many cases the debtor gets a better interest rate than they could receive from a bank. As an investor, you can earn a good return as well.