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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 that it compounds and grows faster. However, with some time, its possible to create 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 earn without putting in much effort. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in 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 as much effort in the long run when youre making the money.

What qualifies as passive income is up for debate. Most lists which youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those ideas in this post because, in my opinion, all of them 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, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are people who've been able to get it done passively, but they make up a small percentage of individuals who actually set out to get it done.

Ive been blogging full-time for ten years and Ive sold ebooks and courses in the past. Theyre great ways to make money, I just dont consider these to be passive, in most cases. .

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Nearly 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 chances than what will be listed here.

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

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Your first financial read this article priority must be to build up an emergency fund that will cover all of your living expenses for a couple months. But dont put this money is a checking account or savings account at a local bank that pays you a terrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a much greater return for you.

My wife and I keep our emergency fund in a money market account Recommended Site 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 simple, 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 inventory, or take the dividends in cash. Reinvesting will allow you to own more shares, 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 track record 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 this stock for quite a long time, or make use of the income produced throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of those stocks, see 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 paired up via a site or market. Instead of going to a bank, the debtor receives a loan from an investor.

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