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

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Passive income can be a bit of a divisive topic. In general, passive income is any money that you earn without putting in much work. The money will flow in without too much being demanded of you. In some scenarios it might 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 need just as much effort in the future when youre making the money.

What qualifies as passive income is up for discussion. Most lists that youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those ideas 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 require on-going work, either by yourself or from others which youre paying.  Selling ebooks or classes will need on-going customer support, plus youll need a consistent traffic source in order to continue to create sales. It is possible and there are individuals who've been in a position to get it done , but they make up a small percentage of individuals who actually set out to get it done.

Ive been blogging fulltime for ten years and Ive sold ebooks and classes in the past. Theyre great ways to make 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 if youre paying other people to run the business. That is true with both online and traditional businesses. This opens up even more possibilities than that which will pop over here be recorded here.

Now lets take a peek at some of the greatest ways to make passive income. A number of these are investments which will need some money to begin with. Other folks 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 that you earn to invest. .

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Your very first financial priority must be to develop an emergency fund that will cover all your living expenses for a couple months. But dont put this money would be 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 much greater 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 shareholder, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in money. 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. As a result of this, these investments tend to be considered link less risky than the stock market in general.

Dividend stocks can be go a great investment regardless of whether you want to reinvest each of the dividends on hold on to the stock for a long time, or use the income produced through the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of those stocks, 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 years. Creditors and lenders can be paired up through a site or marketplace. Instead of going to a bank, the debtor receives a loan by an investor.

In some cases the borrower might not have the ability to qualify for a loan through a traditional bank. And in many cases the debtor gets a better interest rate than they might get from a bank. As an investor, you can earn a good return as well.

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