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At first you may only be making a tiny amount of money passively, and you might even want to re-invest that money so it compounds and grows quicker. However, with some time, its possible to make 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 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 cases it could 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.

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 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 need on-going work, either by yourself or by others that youre paying.  Selling ebooks or courses will need on-going customer service, plus youll need a consistent traffic supply in order to continue to create sales. It's possible and there are individuals who have been able to do it passively, but they compose a small percentage of people who really 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 make money, I simply dont consider these 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 other people to Extra resources run the business. This is true with both online and traditional businesses. That opens up even more chances than what will be recorded here.

Now lets take a look at some of the best ways to produce passive income. A number of these are investments which will require some money to begin with. Others wont need any money to get started. In case you dont have the money to invest now, try starting with the approaches that dont require any money, and then utilize that money that you earn to invest. .

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Your very first financial priority must be to develop an emergency fund that will cover all your living expenses for a few months. But dont put this money is 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 which will earn a much better return for you.

My spouse and I maintain 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 consistently pay dividends for their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will let you own more shares, 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 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 generated throughout the dividends.

For far more detail on the topic read Investing in helpful hints Dividend Stocks at Investopedia. To get a list of these shares, visit this collection out of 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 site or marketplace. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower might not be able to qualify for a loan through a traditional bank. And in many cases the borrower gets a wikipedia reference much better interest rate than they might get from a bank. As an investor, you can earn a great return too.