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At first you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. But with some time, its possible 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 that you make 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 cases 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 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 other people that youre paying.  Selling ebooks or courses will need on-going customer support, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are people who have been able to do it passively, but they compose a small percentage of individuals who actually set out to do it.

Ive been blogging full-time for 10 decades and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider these to be more passive, in the majority of cases. .

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

Now lets take a peek at some of the greatest ways to produce passive income. A number of them are investments which will need some money to begin with. Other folks wont require any money to get started. If you dont have the click to read more money to invest now, try starting with the methods that dont need any money, and then utilize that money you earn to invest. .

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

My spouse and I keep 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 quick and simple, and can be done online. . navigate to this site

Some companies consistently pay dividends for their shareholders. As a shareholder, 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 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. 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 all the dividends on hold on to this stock for a long time, or make use of the income produced throughout the dividends.

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. For 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) is becoming extremely popular in recent years. Creditors and lenders can be matched up via a website or market. Instead of going to a bank, the borrower receives a loan from 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 borrower gets a much better interest rate than they could get from a bank. As an investor, you can earn a great return too.