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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 faster. However, with a few time, its possible to make enough passive income you could quit your job or retire .

Passive income can be a bit of a divisive topic. In general, passive income is any money you make without putting in much effort. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in some 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 just as much effort in the future when youre making the money.

What qualifies as passive income is up for debate. 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 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 from others that youre paying.  Selling ebooks or classes will need on-going customer support, and youll need a consistent traffic source in order to continue to create sales. It's possible and there are individuals who've been able to get it done passively, but they make up a small percentage of individuals who actually set out to get it done.

Ive been blogging fulltime 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 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. That opens up even more possibilities than that which will be listed here.

Now lets take a look at a few of the greatest ways to produce passive income. A number of these are investments which will need some money to start with. Other folks wont need any money to get started. If you dont have the money to invest now, consider starting with the methods that dont require any visit the website money, and then use that money you make to invest. .

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Your first financial priority must be to develop an emergency fund that can cover all your living expenses for a couple months. But dont put this money is 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 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 quick and easy, 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 inventory, or take the dividends in money. Reinvesting will let you 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 exchange in general.

Dividend stocks can be a great investment regardless of whether you want to reinvest all of the dividends on hold on to this stock for a long time, or make use of the income produced through the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of these stocks, see this collection out of Dividend.com and this collection from DividendValueBuilder.com.

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

In some situations the borrower might not have the ability to be eligible for a loan via a traditional bank. And in many circumstances the borrower gets a better interest rate than they might get from a bank. As an investor, you can earn a good return too.