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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 that it compounds and grows faster. But with a few 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 you earn without putting in much work. The money will flow in without too much being required of you. In some cases it might be long-term recurring income, and in 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 require 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 ideas in this post 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 constantly require on-going work, either by yourself or by others which youre paying.  Selling ebooks or classes will require on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are people who've been in a position to do it , but they compose a small percentage of people who really set out to do it.

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

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Nearly any business can be a source of passive income if youre paying other people to run the business. This is true with both online and traditional businesses. That opens up even more chances than what will be listed here.

Now lets take a peek at some of the greatest ways to make passive income. A number of these are investments which will browse around these guys require some money to begin with. Others wont need any money to get started. If you dont have the money to invest now, consider starting with the methods that dont need any money, and then use that money you make to invest. .

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Your very first financial priority should be to build up an emergency fund that can cover all of your living expenses for a few months. But dont put this money is a checking account 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 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 the stock, or look at here take the dividends in cash. Reinvesting will allow you to 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 track record of success. As a result of this, these investments tend to be considered less risky than the stock market in general.

Dividend stocks can be a great investment regardless of whether 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 far more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of these 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 through a website or marketplace. Instead of going to a bank, the debtor gets a loan from an investor.

In some cases the borrower may 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 could get from a bank. their explanation As an investor, you can earn a good return as well.