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Initially you may only be making a tiny amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. But with some time, its possible to create 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 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 instances it might be short lived or inconsistent.

In some cases 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.

Exactly 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 post because, in my own opinion, all of them 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 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 is possible and there are individuals who have been in a position to get it done , but they compose a small percentage of people who really set out to get it done.

Ive been blogging fulltime for 10 decades and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I simply dont consider these to be more passive, in most cases. .

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Nearly any business can be a source of passive income when youre paying other people 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 take a look at some of the greatest ways to produce passive income. Some of these are investments that will need some money to begin with. Other folks wont need any money to begin. If you dont have the money to invest now, try starting with the approaches that dont need any money, and then use 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 account 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 look at more info earn a lot better return for you.

My spouse 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 1.85percent 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 for 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 pop over here you 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. 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 all of the dividends on hold on to this stock for a long time, or use the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of those 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 website or marketplace. Instead of going to a bank, the debtor gets a loan from an investor.

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