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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 it compounds and grows faster. But with a few time, its potential to make enough passive income you could quit your job or retire early.

Passive income can be a bit of a divisive topic. In general, passive income is any money that you make without putting in much effort. 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 cases it might be short lived or inconsistent.

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

What qualifies as passive income is up for debate. Most lists that 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 opinion, all of them require an excessive amount of effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or by others which youre paying.  Selling ebooks or classes will need on-going customer support, and youll need a consistent traffic supply in order to continue to make sales. It is possible and there are people who've been in a position to do it passively, but they make up a small percentage of individuals who really set out to do it.

Ive been blogging full-time for ten years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider them to be more passive, in the majority of cases. .

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Nearly any business can be a source of passive income when youre paying others to run the business. This is true with both online and traditional businesses. This opens up even more possibilities than what will be listed here.

Now lets have a peek at a few of the greatest ways to produce passive income. A number of them are investments that 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 approaches that dont require any money, and then use that money you earn to invest. .

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Your first financial priority must be to build up an emergency fund that can cover all of your living expenses for a couple months. But dont navigate to this website 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 which will earn a lot greater return for you.

My wife and I maintain our emergency fund in a money market account with visit the website 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 fast and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a trader, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in money. Reinvesting will allow you to own more shares, 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 history of success. Because of this, these investments tend to be considered less risky than the stock market in general.

Dividend stocks can be a great investment whether or not you want to reinvest each the dividends on hold on to this stock for a long time, or make use of the income generated throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these stocks, 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. Borrowers and lenders can be matched up via a site or market. Instead of going to a bank, the borrower receives a loan from an investor.

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