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Initially you may only be making a tiny amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. But with some time, its possible to create enough passive income that you could quit your job or retire early.

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Passive income can be a bit of a 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 cases 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 need just as much effort in the long run when youre making the money.

What qualifies as passive income is up for discussion. 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 informative article 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 that youre paying.  Selling ebooks or classes will require on-going customer support, and youll need a consistent traffic supply in order to continue to create sales. It is possible and there are individuals who've been able to get it done passively, but they make up a small percentage of individuals who really set out to get it done.

Ive been blogging full-time 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 the majority of cases. .

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Just about 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. That opens up even more chances 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 that will need some money to start with. Other folks wont require any money to begin. If you dont have the money to invest now, consider starting with the methods that dont need any money, and then utilize that money you make to invest. .

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Your very first financial priority must be to develop an emergency fund that can cover all of your living expenses for a few months. But dont put this money would be 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 his comment is here online bank which will earn a lot greater 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 1.85% 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 for their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in cash. Reinvesting will allow you to own more stocks, 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. Because of this, these investments tend to be considered less risky than the stock market in general.

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

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of these shares, see this collection from Dividend.com and this collection official source 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 matched up via a website or market. Instead of going to a bank, the borrower receives a loan by an investor.

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

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