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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 quicker. But with a few time, its possible to make enough passive income that you could quit your job or retire .

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Passive income can be a bit of a divisive topic. In general, passive income is any money 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 need as much effort in the future when youre making the money.

What qualifies as passive income is up for discussion. 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, all of them require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or by other people which youre paying.  Selling ebooks or courses will require on-going customer service, plus youll need a consistent traffic supply in order to continue to create sales. It is possible and there are people who have been in a position to do it , but they make up a small percentage of individuals who actually set out to do it.

Ive been blogging fulltime for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply 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 others to run the business. This is true with both online and traditional businesses. This opens up even more possibilities than what will be listed here.

Now lets take a look at a few of the greatest ways to make passive income. Some of these are investments that will require some money to start with. Others wont need any money to begin. In case you dont have the money to invest now, try starting with the approaches that dont need any money, and then use that money you earn to invest. .

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Your very first financial priority must be to build up an emergency fund that can 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 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 1.85percent APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is quick 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 purchase more shares of this inventory, or take the dividends in money. Reinvesting will let you own more shares, which leads 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. 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 whether or not you want to reinvest each of the dividends on hold on to the stock for a long time, or make use of the income produced through the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. To get a list of these stocks, visit this collection from 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 from an investor.

In some situations the borrower may not have the ability to qualify for a loan through pop over to these guys a traditional bank. And in many circumstances the borrower gets a better interest rate than they might receive from a bank. As an investor, you can earn a good return as well.

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