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Initially 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 quicker. 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 required of you. In some scenarios 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 need just as much effort in the future when youre making the money.

Exactly what qualifies as passive income is up for debate. Most lists that youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or from others which youre paying.  Selling ebooks or courses will require on-going customer service, plus youll need a consistent traffic source in order to continue to create sales. It's possible and there are individuals who've been able to get it done passively, but they make up a small percentage of people who actually set out to do it.

Ive been blogging full-time for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to make money, I just dont consider them to be 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. This opens up even more chances than that which will be recorded here.

Now lets have a look at some of the greatest ways to make passive income. Some of them are investments that will need some money to begin 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 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 few months. But dont put this this page 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 earn a much better return for you.

My spouse and I maintain our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85% 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 look here the dividends to buy more shares of the inventory, or take the dividends in money. Reinvesting will let you 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 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 whether or not you want to reinvest all of the dividends on hold on to this stock for a long time, or use the income produced throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. To get a list of those shares, 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 decades. Borrowers and lenders can be paired up through a site or marketplace. Instead of going to a bank, the debtor gets a loan by an investor.

In some his response cases the borrower may not have the ability to qualify 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.

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