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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 quicker. But with some time, its possible to make enough passive income 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 work. The money will flow in without too much being required of you. In some cases it might be long-term recurring income, and in other cases it could be short lived or inconsistent.

In some cases 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 that youll find online will include things like 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 always require on-going work, either by yourself or by others that youre paying.  Selling ebooks or classes will require on-going customer service, and youll need a consistent traffic supply in order to continue to make sales. It's possible and there are individuals who have been able to get it done , but they make up a small percentage of individuals who actually set out to do it.

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

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Just about any business can be a source of passive income if 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 recorded here.

Now lets have a peek at some of the greatest ways to make passive income. A number of these are investments which will require some money to start with. Other folks wont need any money to begin. In case you dont have the money to invest now, try starting with the methods that dont need any money, and then utilize that money that you make to invest. .

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Your very first financial priority must 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 terrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a much better 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 reference account with CIT is quick and easy, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in money. Reinvesting will allow Extra resources you to own more shares, which leads 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 terrific investment whether or not you want to reinvest each the dividends on hold on to the stock for quite a long time, or use the income produced through the dividends.

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of these shares, 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 matched up via a website or market. Instead of going to a bank, the debtor receives a loan by an investor.

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