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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 a few time, its potential to make 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 that you earn 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 require just as much effort in the long run when youre making the money.

Exactly 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 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 by others that youre paying.  Selling ebooks or courses will require on-going customer support, plus 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 people who actually set out to get it done.

Ive been blogging fulltime for 10 years and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider these 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 other people to run the business. That is true with both online and traditional businesses. This opens up even more possibilities than what will be recorded here.

Now lets take a peek at some of the best ways to produce passive income. Some of them are investments that will need link some money to start with. Other folks wont need any money to get started. If you dont have the money to invest now, consider starting with the approaches that dont require any money, and then utilize that money that you earn to invest. .

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Your first financial priority should be to develop an emergency fund that will cover all your living expenses for a few months. But dont put this money would be a checking or savings account at a local bank that pays you a horrible interest rate. company website 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 1.85% 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. .

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

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. To get 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 years. Borrowers and lenders can be matched up through a site or marketplace. Instead of going to a bank, the borrower gets 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 blog might receive from a bank. As an investor, you can earn a good return as well.