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At first you may only be making a tiny amount of money passively, and you may even want to re-invest that money so it compounds and grows quicker. However, with some time, its potential to create enough passive income that 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 work. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in some other instances it might be short lived or inconsistent.

In some cases 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 discussion. Most lists which 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 own 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 from others that youre paying.  Selling ebooks or courses will require on-going customer service, and youll need a consistent traffic source in order to continue to create sales. It's possible and there are individuals who have been in a position to do it , but they compose 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 earn 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 if youre paying others to run the business. This is true with both online and traditional businesses. That opens up even more chances than what will be recorded here.

Now lets take a peek at some of the best ways to make passive income. A number of them are investments which will require some money to start with. Other folks wont require any money to begin. In case you dont have the money to invest now, consider starting with the approaches that dont need any money, and then utilize that money that you resource earn to invest. .

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Your very first financial priority should be to develop an emergency fund that can cover all of your living expenses for a couple months. But dont put this money is a checking or savings account at a local bank which 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 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 1.85% APY and CIT savings accounts are earning 1.55% i was reading this 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 shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will allow you to own more shares, which contributes 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 pop over to these guys 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 all the dividends on hold on to this stock for a long time, or make use of the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. To get a list of those shares, 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. Creditors and lenders can be matched up via a site or market. Instead of going to a bank, the debtor receives a loan by an investor.

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