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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 faster. But with a few time, its possible to create enough passive income you could quit your job or retire early.

Passive income can be a bit of a divisive topic. In general, passive income is any money you earn 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 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 require just 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 ideas in this post because, in my opinion, all of them require too much effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or by other people that youre paying.  Selling ebooks or classes will require on-going customer service, plus youll need a consistent traffic supply in order to continue to make sales. It is possible and there are people who've been in a position to do it , but they compose a small percentage of people who actually set out to get it done.

Ive been blogging fulltime for ten years and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply dont consider them to be more 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. That is true with both online and traditional businesses. This opens up even more possibilities than what will be recorded here.

Now lets take a peek at some of the greatest ways to produce passive income. Some of them are investments which will require some money to begin with. Others wont need any money to get started. In case you dont have the money to Read More Here invest now, try starting with the approaches that dont need any money, and then use that money that you make to invest. .

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Your very first financial priority must be to build up an emergency fund that will 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 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 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 1.85percent 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 to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in money. Reinvesting will let you 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. 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 regardless of whether you want to reinvest all the dividends on hold on to this stock for a long time, or make use of the income produced throughout the dividends.

For much read this article more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of those 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. Creditors and lenders can be paired up through a site or market. Instead of going to a bank, the borrower receives a loan from an investor.

In some cases the borrower might not be able to qualify for a loan through a traditional bank. And in many cases the debtor gets a much better interest redirected here rate than they could receive from a bank. As an investor, you can earn a great return too.