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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. But with a few time, its potential 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 you earn without putting in much work. The money will flow in without too much being required of you. In some scenarios it could be long-term recurring income, and in some other instances 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 debate. Most lists which youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those ideas in this post because, in my opinion, they all require too much effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or by other people that youre paying.  Selling ebooks or classes will need on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It's possible and there are individuals who've been able to get it done passively, but they compose a small percentage of individuals who actually set out to get it done.

Ive been blogging fulltime for 10 decades and Ive sold ebooks and classes 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 when youre paying others to run the business. That is true with both online and traditional businesses. This opens up even more possibilities than that which will be listed here.

Now lets take a peek at some of the greatest ways to make passive income. A number of them are investments that will need some money to begin with. Others wont need any money to begin. If you dont have the money to invest now, try starting with the methods that dont need any money, and then use that money you make to invest. .

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Your very first financial priority must be to build official site up an emergency fund that will cover all your living expenses for a few months. But dont put more information this money would be 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 that will earn a much better 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 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 allow you to own more stocks, 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 history of success. As a result of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a great investment whether or not you want to reinvest all 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 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 blog here becoming extremely popular in recent decades. Creditors and lenders can be matched up via a site or marketplace. Instead of going to a bank, the borrower receives a loan by an investor.

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