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Initially you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. However, with a few time, its potential to make enough passive income that you could quit your job or retire early.

Passive income can be a small divisive topic. In general, passive income is any money that you make without putting in much work. 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 need just 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 informative article because, in my own opinion, they all require an excessive amount of 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 classes will need on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are people who have been in a position to do it , but they compose a small percentage of people who actually set out to do it.

Ive been blogging fulltime for ten decades 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 other people to run the business. This is true with both online and traditional businesses. That opens up even more possibilities than that which will be recorded here.

Now lets have a look at some of the best ways to make passive income. Some of them are investments which will require some money to start with. Others wont need any money to begin. In case you dont have the money to invest now, consider starting with the methods that dont require any money, and then utilize that money you earn to invest. .

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Your first financial priority must be to develop an emergency fund that will cover all of 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 terrible interest rate. You can open a high yield savings account or money market account with an online bank that will earn a lot better 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 1.85percent 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 trader, you can re-invest the dividends to buy more shares of this stock, or take the dividends in money. her response Reinvesting will allow you to own more shares, which contributes 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 track record 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 terrific investment whether or not you want to reinvest all of have a peek here the dividends on hold on to the stock for a long time, or use the income produced throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of those shares, visit this collection from 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. Creditors and lenders can be matched up via a website or marketplace. Instead of going to a bank, the borrower receives a loan by an investor.

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