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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 that it compounds and grows faster. But 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 required of you. In some cases it could be long-term recurring income, and in some other cases it could 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 debate. Most lists that 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 own opinion, all of them require too much effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or by others that youre paying.  Selling ebooks or classes will need on-going customer service, plus youll need a consistent traffic supply in order to continue to create sales. It is possible and there are people who've been in a position 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 courses in the past. Theyre great ways to earn money, I just dont consider these to be passive, in most 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 that which will be recorded here.

Now lets take a peek at a few of the greatest ways to produce passive income. A number of them are investments which will need some money to start with. Others wont require any money to begin. If you dont have the money to invest now, try starting with the approaches that dont need any money, and then utilize that money you earn to invest. .

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Your very first financial priority should be to develop an emergency fund that will cover all of your living expenses for a couple 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. index 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 buy more shares of this inventory, or take the link dividends in cash. Reinvesting will let you own more stocks, which contributes to more 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 terrific investment regardless of whether you want to reinvest each the dividends on hold on to this stock for a long time, or use the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of these stocks, 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. Borrowers and Look At This lenders can be matched up via a site or marketplace. Instead of going to a bank, the debtor gets a loan by an investor.

In some cases the borrower might not have the ability to be eligible for a loan through 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.