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Initially you may only be making a small amount of money passively, and you may even want to re-invest that money so it compounds and grows faster. However, with a few time, its potential to make enough passive income you could quit your job or retire early.

Passive income can be a small divisive topic. In general, passive income is any money that you make without putting in much work. The money will flow in without too much being demanded of you. In some cases it might be long-term recurring income, and in some 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.

Exactly 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 thoughts 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 constantly need on-going work, either by yourself or from other people 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've been able to get it done passively, but they compose a small percentage of people who actually set out to do it.

Ive been blogging full-time for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just 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 when youre paying other people to run the business. This is true with both online and traditional businesses. That opens up even more chances than that which will look at more info be listed here.

Now lets have a look at a few of the best ways to produce passive income. Some of them are investments which click here to find out more will require some money to start with. Other folks wont need any money to get started. In case you dont have the money to invest now, consider starting with the approaches that dont require any money, and then utilize that money that you earn to invest. .

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Your very first financial priority must be to build up an emergency fund that will cover all your living expenses for a few months. But dont put this money is 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 which will earn a lot greater 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 1.85% 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 buy more shares of this inventory, or take the dividends in cash. Reinvesting will allow you to own more shares, which contributes to click this link 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 terrific investment whether or not you want to reinvest all the dividends on hold on to the stock for a long time, or use the income produced 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 decades. Borrowers and lenders can be matched up via a website or marketplace. Instead of going to a bank, the borrower gets a loan from 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 much better interest rate than they might get from a bank. As an investor, you can earn a good return too.