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At first you may only be making a small amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. But with a few time, its potential 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 effort. The money will flow in without too much being demanded of you. In some scenarios it could be long-term recurring income, and in other cases it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont require as much effort in the long run when youre making the money.

What qualifies as passive income is up for discussion. 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, 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, plus youll need a consistent traffic supply in order to continue to create sales. It is possible and there are individuals who've 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 years and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply dont consider them to be more 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. That is true with both online and traditional businesses. That opens up even more hop over to these guys possibilities than that which will be listed here.

Now lets have a look at a few of the best ways to produce passive income. Some of them are investments that will require some money to begin with. Other folks wont need any money to get started. In case you dont have the money to invest now, try starting with the approaches that dont need 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 can cover all of your living expenses for a few months. But dont put this money would be a checking account or savings account at a local bank that 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 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 to 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 allow you to own other 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 great investment regardless of whether you want to reinvest each of the dividends on hold on find to the stock for quite a long time, or make use of the income produced throughout the dividends.

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of those 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 years. Borrowers and lenders can be paired up through a website or marketplace. Instead of going to a bank, the debtor receives a loan from 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 circumstances the debtor gets a better interest rate than they could get from a bank. As an investor, you can earn a good return as well.