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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 faster. But with some time, its possible 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 that you make 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 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 require as much effort in the future when youre making the money.

Exactly what qualifies as passive income is up for debate. 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, they all 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 other people which youre paying.  Selling ebooks or courses 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 make up a small percentage of individuals who actually set out to do it.

Ive been blogging fulltime for ten decades and Ive sold ebooks and courses in the past. Theyre great ways to earn 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 if youre paying others to run the business. That is true with both online and traditional businesses. That opens up even more possibilities than that which will be listed here.

Now lets have a look at some of the greatest ways to make passive income. Some of them are investments which will need some money to begin with. Others wont require any money to get started. If you dont have the money to invest now, consider starting with the approaches that dont need any money, and then use that money you make to invest. .

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Your very recommended you read first financial priority must 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 or savings account at a local bank which 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 lot 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 easy, and can be done online. .

Some companies Recommended Site consistently pay dividends to their shareholders. As a trader, you can re-invest the dividends to buy more shares of this stock, or take the dividends in money. Reinvesting will allow you to 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 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 terrific investment whether or not you want to reinvest all of the dividends on hold on to this stock for quite a long time, or use the income generated through the dividends.

For far more detail on the subject read Investing in Dividend Stocks in 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) has become extremely popular in recent years. Borrowers and lenders can be matched up through a website or marketplace. Instead of going to a bank, the debtor receives a loan from an investor.

In find out some situations the borrower may not be able to be eligible for a loan via a traditional bank. And in many circumstances the debtor gets a much better interest rate than they could get from a bank. As an investor, you can earn a good return as well.