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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 that it compounds and grows faster. However, 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 make without putting in much effort. 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 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 which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts in this post because, in my opinion, they all require an excessive amount of effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or from others which youre paying.  Selling ebooks or courses 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 individuals who have been in a position to get it done passively, but they compose a small percentage of individuals who really set out to get it done.

Ive been blogging fulltime for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply dont consider these to be passive, in most 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 possibilities than what will be listed here.

Now lets have a look at a few of the best ways to make passive income. A number of them are investments that will require some money to start with. Other folks wont require any money to get started. If you dont have the money find out here to invest now, try starting with the methods that dont need any money, and then utilize that money that you earn to invest. .

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Your very first financial priority should be to develop an emergency fund that can cover all of your living expenses for click for info a couple months. But dont put this money is a checking account or savings account at a local bank which pays you a terrible 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 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! Opening an account with CIT is fast and simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to buy more shares of the inventory, or take the dividends in cash. 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 Discover More Here stock market in general.

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

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of these shares, see 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 decades. Creditors and lenders can be paired up through 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 be able to be eligible for a loan via a traditional bank. And in many circumstances the borrower gets a better interest rate than they could receive from a bank. As an investor, you can earn a great return as well.