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Initially you may only be making a small 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 create 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 scenarios 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 as much effort in the long run when youre making the money.

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, they all require an excessive amount of effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or from others that youre paying.  Selling ebooks or courses will need on-going customer service, and youll need a consistent traffic supply in order to continue to make sales. It is possible and there are people who've been in a position to get it done , but they compose a small percentage of people who actually set out to do it.

Ive been blogging fulltime 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 more passive, in the majority of cases. .

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Just about 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 chances than that which will be listed here.

Now lets take a look at a few of the greatest ways to produce passive income. Some of these are investments which will require some money to begin with. Others wont need any money to begin. If you dont have the money to invest now, consider starting with the methods that dont require any money, and then utilize that money that you make to invest. .

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Your first financial priority should be to build up an emergency fund that can cover all your living expenses for a few months. But dont put this money would be a checking account or savings account at a local bank that pays you a horrible 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 1.85% APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is fast 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 buy more shares of this inventory, or take the dividends in cash. Reinvesting will let you own more stocks, which leads to greater dividends in Read More Here 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 exchange in general.

Dividend stocks can be a great investment regardless of whether you want to reinvest all of the dividends on hold on to the stock for quite a long time, or use the income generated through the dividends.

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

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