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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 a few time, its potential to create enough passive income that you could quit your job or retire .

Passive income can be a small divisive topic. In general, passive income is any money that you make without putting in much effort. The money will flow in without too much being required of you. In some cases it might be long-term recurring income, and in some other instances it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont need 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 opinion, all of them require an excessive amount of effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or by other people 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 make sales. It's possible and there are people who have been able to get it done passively, but they make up a small percentage of people who actually set out to get it done.

Ive been blogging full-time 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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Nearly any business can be a source of passive income when youre paying others to run the business. That is true with both online and traditional businesses. That opens up even more possibilities than what will be listed here.

Now lets have a peek at a few of the greatest ways to produce passive income. Some of these are investments which will need some money to begin 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 require any money, and then use that money 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 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 that will earn a lot better return find more information 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! go to this site Opening an account with CIT is quick 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 buy more shares of this inventory, or take the dividends in cash. Reinvesting will let you own more stocks, 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. Because 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 make use of the income generated through the dividends.

For far more detail on the topic read Investing in Dividend Stocks at 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) is becoming extremely popular in recent decades. Borrowers and lenders can be paired up via a website or market. Instead of going to a bank, the debtor gets a loan from an investor.

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