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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 that it compounds and grows quicker. But with some time, its possible to make enough passive income that 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 earn without putting in much effort. The money will flow in without too much being required of you. In some scenarios it might be long-term recurring income, and in some other cases it might be short lived or inconsistent.

In some cases 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.

What qualifies as passive income is up for discussion. Most lists that 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, they all 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 from other people that youre paying.  Selling ebooks or classes will require on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are individuals who've been able to get it done , but they compose 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 courses in the past. Theyre great ways to make money, I just dont consider these to be more passive, in most cases. .

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Just about any business can be a source of passive income if 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 have a peek at some of the greatest ways to make passive income. Some of these are investments which will require some money to begin with. Other folks wont require any money to get started. If you dont have the money to invest now, consider starting with the approaches that dont need any money, and then utilize that money you earn to invest. .

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Your 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 Continued is a checking account 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 much better return for you.

My spouse 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 my sources national average! Opening an account with CIT is fast and easy, and can be done online. .

Some companies consistently pay dividends to 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 contributes 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 history of success. Because of this, these investments tend to be considered less risky than the stock market in try this website general.

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

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get 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. Creditors and lenders can be matched up via a website or market. 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 qualify for a loan through a traditional bank. And in many cases the borrower gets a much better interest rate than they could receive from a bank. As an investor, you can earn a great return as well.

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