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Initially you may only be making a small amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. However, with some time, its possible to make 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 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 other cases it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont require as much effort in the long run when youre making the money.

What qualifies as passive income is up for debate. Most lists which youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those thoughts in this post because, in my own opinion, they all require an excessive amount of 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 need on-going customer service, plus youll need a consistent traffic source in order to continue to make sales. It's possible and there are individuals who've been able to do it passively, but they compose a small percentage of people who really set out to do it.

Ive been blogging full-time for ten decades and Ive sold ebooks and courses in the past. Theyre great ways to make money, I simply dont consider these to be 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. This is true with both online and traditional businesses. This opens up even more chances than what will be recorded here.

Now lets take a look at some of the best ways to make passive income. Some of these are investments which websites will require some money to begin with. Others wont need 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 very Learn More first financial priority should be to develop an emergency fund that can 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 that 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 greater return for you.

My spouse 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 simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this inventory, or take the dividends in money. Reinvesting will allow you to own more stocks, 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 history of success. As a result of this, these investments tend to be considered less risky than the stock market in general.

Dividend stocks can explanation be a great investment whether or not you want to reinvest each the dividends on hold on to this stock for quite a long time, or use the income generated throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of these shares, visit 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 matched up through a website or marketplace. Instead of going to a bank, the borrower gets a loan by an investor.

In some situations the borrower may not have the ability to be eligible for a loan via a traditional bank. And in many circumstances the debtor gets a much better interest rate than they could receive from a bank. As an investor, you can earn a great return too.