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At first you may only be making a small amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. However, with some time, its potential to make enough passive income that 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 effort. The money will flow in without too much being demanded of you. In some scenarios it could be long-term recurring income, and in 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 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 like blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my own 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 from other people which youre paying.  Selling ebooks or courses will require on-going customer support, plus youll need a consistent traffic supply in order to continue to create sales. It's possible and there are individuals who have been in a position to get it done passively, but they make up a small percentage of people who really set out to get it done.

Ive been blogging fulltime for ten decades and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider them to be more passive, in most cases. .

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Nearly any business can be a source of passive income when youre paying others to run the business. This is true with both online and traditional businesses. That opens up even more chances than that which will be recorded here.

Now lets have a look at a few of the greatest ways to produce passive income. A number of these are investments that will require some money to begin with. Others wont require any money to get started. In case you dont have the money to invest now, consider starting with the methods that dont need any money, and then use that money you earn to invest. .

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Your very first financial priority should be to develop an emergency fund that can cover all your living expenses for a couple months. But dont put this money is a additional resources 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 greater return for you.

My spouse 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% 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 buy more shares of this inventory, or take the dividends in money. Reinvesting will let you own more stocks, 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 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 great investment whether or not browse this site you want to reinvest each the dividends on hold on to the stock for a long time, or use the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. To get a list of these 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 decades. Creditors and lenders can be paired up through a website or market. Instead of going to a bank, the visit homepage borrower receives a loan by an investor.

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