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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 some time, its potential to make 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 that you earn without putting in much effort. The money will flow in without too much being required of you. In some scenarios it could be long-term recurring income, and in some other cases it could be short lived or inconsistent.

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

Exactly 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, they all require too much effort to be considered as passive.

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

Ive been blogging full-time 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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Nearly any business can be a source of passive income if youre paying other people to run the business. This is true with both online and traditional businesses. This opens up even more possibilities than that which will be recorded here.

Now lets take a look at some of the greatest ways to make passive income. A number of these are investments which will require some money to begin with. Others wont need any Visit This Link money to begin. If you dont have the money to invest now, try starting with the methods that dont require any money, and then utilize that money that you make to invest. .

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Your first financial priority should be to build up an emergency fund that will cover all of your living expenses for a few months. But dont put this money is a checking 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 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 shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will let you own more shares, 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. As a result 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 each the dividends on hold on to this stock for a long time, or make use of the income generated 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 cases the borrower may not have the ability to be eligible for a loan via a traditional bank. And in many cases the borrower gets a better interest rate than they might get from a bank. As an investor, you can earn a great return too.