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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 it compounds and grows quicker. But with a few time, its possible 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 you earn without putting in much effort. The money will flow in without too much being demanded of you. In some scenarios it might be long-term recurring income, and in other instances 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 future when youre making the money.

Exactly 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 post because, in my opinion, they all require an excessive amount of effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or from other people which youre paying.  Selling ebooks or courses will need on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It is possible and there are individuals who've been in a position to do it passively, but they make up a small percentage of individuals who really set out to get it done.

Ive been blogging fulltime for ten years and Ive sold ebooks and courses 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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Nearly any business can be a source of passive income when youre paying other people to run the business. This is true with both online and traditional businesses. This opens up even more possibilities than that which will be listed here.

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

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Your first financial priority should be to develop an emergency fund that can cover all of your living expenses for a few months. But dont put this money would be a checking or savings account at a local bank which 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 lot greater return for you.

My wife 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 simple, 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, click here to read 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. Because 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 quite a long time, or make use of the income generated through the dividends.

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. To get a list of these shares, see this collection out that site 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. Borrowers and lenders can be paired up through a site or marketplace. Instead of going to a bank, the borrower gets a loan from an investor.

In some situations the borrower may not be able to be eligible for a loan via a traditional bank. And in many circumstances the debtor gets a better interest rate than they might receive from a bank. As an investor, you can earn a great return as well.