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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 it compounds and grows quicker. However, with a few time, its potential to create 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 you earn without putting in much effort. The money will flow in without too much being demanded of you. In some scenarios it might be long-term recurring income, and in 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 require 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 from others 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 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 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 most 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. That is true with both online and traditional businesses. That opens up even more possibilities than that which will be recorded here.

Now lets have a look at a few of the greatest ways to make passive income. Some of them are investments that will need some money to start with. Other folks wont require any money to get started. In case you dont have the money to invest now, try starting with the methods that dont require any money, and then use that money that 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 my company this money would be a checking or savings account at a local bank which 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 lot 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 1.85% 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 for their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in cash. Reinvesting will allow you to 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. Because of this, these investments tend to be considered less risky than the stock market in general.

Dividend stocks can be a terrific investment whether or not you want to reinvest look at this web-site each of the dividends on hold on to this stock for quite a long time, or use the income produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks at Investopedia. For 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 gets a loan he has a good point from an investor.

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