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Initially 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 quicker. However, with some time, its possible to create enough passive income you could quit your job or retire early.

Passive income can be a small divisive topic. In general, passive income is any money you earn without putting in much work. 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 instances it might 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 debate. Most lists which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those ideas in this post because, in my own opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or by other people that youre paying.  Selling ebooks or classes will require on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It's possible and there are individuals who have been in a position to get it done 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 courses in the past. Theyre great ways to earn 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 when youre paying other people to run the business. That is true with both online and traditional businesses. This opens up even more chances than that which will be recorded here.

Now lets have a peek at some of the greatest ways to produce passive income. Some of them are investments which will need some money to begin with. Other folks wont require any money to get started. If 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 must be to build up an emergency fund that can cover all of your living expenses for a couple months. But dont put this money is a checking or have a peek at this site savings account at a local bank that pays you a horrible interest rate. You can open a high yield savings account or money market account with an online bank that will earn a much 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 simple, and can be done online. .

Some companies why not check here consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to buy more shares of this stock, or take the dividends in money. Reinvesting will allow you to own 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 history of success. Because of this, these investments tend to be considered less risky than the stock exchange in general.

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

For far more detail on the topic read Investing in Dividend Stocks at Investopedia. To get 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 years. Borrowers and lenders can be paired up via a site or marketplace. click here now Instead of going to a bank, the borrower receives a loan from an investor.

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