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At first you may only be making a tiny amount of money passively, and you might even want to re-invest that money so it compounds and grows quicker. However, with some 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 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 scenarios it could be long-term recurring income, and in other cases it could be short lived or inconsistent.

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

Exactly what qualifies as passive income is up for discussion. Most lists which youll find online will include things like 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 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 others that youre paying.  Selling ebooks or courses will require on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are people who've been able to get it done passively, but they make up a small percentage of individuals who actually set out to get it done.

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

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Just about 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 listed here.

Now lets take a peek at some of the greatest ways to produce passive income. Some of them 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 methods that dont require any money, and then use that money that you earn to invest. .

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Your very first financial priority must be to develop an emergency fund that can cover all your living expenses for a few months. But dont put this money would be 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 much better return for you.

My wife 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 1.85percent APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is fast and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a trader, you can re-invest the dividends to purchase see this page more shares of this inventory, or take the dividends in money. Reinvesting will allow you to own more shares, which leads 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. Because of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest all of the dividends on hold on to this stock for a long time, or use the income generated through the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of these shares, visit this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent years. Borrowers and lenders can be paired up via a website or marketplace. Instead of going to a bank, the borrower receives a loan by an investor.

In some cases the borrower might not have the ability to be eligible for a loan via a traditional bank. And in many cases the borrower gets a better interest rate than they might receive from a bank. As an investor, you can earn a great return as well.

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