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At first you may only be making a small amount of money passively, and you might even want to re-invest that money so it compounds and grows quicker. However, with a few time, its potential to create enough passive income that 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 that you make without putting in much work. 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 instances it could be short lived or inconsistent.

In some circumstances 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.

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 informative article 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 which youre paying.  Selling ebooks or classes will require on-going customer support, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are individuals who have been in a position 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 10 decades and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just 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. This is true with both online and traditional businesses. This opens up even more chances than that which will be recorded here.

Now lets take a look at a few of the best ways to produce passive income. Some of these are investments that will need some money to begin with. Other folks wont require any money to begin. In case you dont have the money to invest now, try starting with the methods that dont need any money, and then use that money that you make 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 is a checking 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 lot 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. why not try here Thats 22x the national average! Opening an account with CIT is fast and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a trader, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will let you own more stocks, 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 track record of success. Because of this, these investments tend to be considered less risky than the stock exchange in general.

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

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of those shares, visit 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 matched up through a site or market. Instead of going to a bank, the debtor receives a loan by 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 borrower gets a better interest rate than they could get from a bank. As an investor, you can earn a good return as well.