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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 faster. However, with a few time, its potential to make enough passive income 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 some other instances it might be short lived or inconsistent.

In some circumstances 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.

What qualifies as passive income is up for discussion. 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 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 always require on-going work, either by yourself or by other people which youre paying.  Selling ebooks or classes 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 people who have been in a position to get it done passively, but they compose a small percentage of people who actually set out to do it.

Ive been blogging full-time for 10 decades and Ive sold ebooks and classes in the past. Theyre great ways to make money, I just dont consider these to be more passive, in the majority of cases. .

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Just about any business can be a source of passive income if youre paying other people to run the business. This is true with both online and traditional businesses. This opens up even more chances than what will be listed here.

Now lets have a peek at some of the greatest ways to produce passive income. Some of them are investments which will require some money to begin with. Other folks 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 utilize that money you make to invest. .

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Your very first financial priority must be to build up 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 that pays you a terrible interest rate. You can open a high yield savings account or money additional resources 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% APY. Thats 22x the national average! Opening an account with CIT is fast and easy, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a shareholder, you Homepage can re-invest the dividends to purchase more shares of the stock, or take the dividends in cash. Reinvesting will allow you to own more stocks, which leads 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. 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 of the dividends on hold on to the stock for a long time, or make use of the income produced throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of those shares, visit this collection from Dividend.com find and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) has become extremely popular in recent years. Creditors and lenders can be matched up via a site or marketplace. Instead of going to a bank, the borrower gets a loan from an investor.

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