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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. But with some time, its potential to make 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 earn without putting in much work. 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 might 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 long run when youre making the money.

What qualifies as passive income is up for debate. Most lists that 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, all of them 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 from other people which youre paying.  Selling ebooks or courses will require on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It is possible and there are people who've been able to do it , but they compose a small percentage of individuals who really set out to do it.

Ive been blogging fulltime for 10 years and Ive sold ebooks and courses in the past. Theyre great ways to make money, I just dont consider these to be more passive, in the majority of 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 listed here.

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

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Your first financial priority should 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 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 that will earn a much greater return for you.

My wife and I keep read what he said 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 fast 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 the inventory, or take the dividends in cash. Reinvesting will let 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 track record of success. Because 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 all the dividends on hold on to this he said stock for a long time, or use the income produced through the dividends.

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. To get 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 market. Instead of going to a bank, the borrower gets a loan by an investor.

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