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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 faster. However, with some 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 you earn without putting in much work. The money will flow in without too much being required 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 need just as much effort in the long run when youre making the money.

Exactly 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 ideas in this post because, in my opinion, all of them 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 others which youre paying.  Selling ebooks or courses will need on-going customer service, and youll need a consistent traffic source in order to continue to create sales. It is possible and there are individuals who've been in a position to do it passively, but they make up a small percentage of individuals who actually set out to do it.

Ive been blogging fulltime for 10 years and Ive sold ebooks and courses in the past. Theyre great ways to make money, I simply dont consider them to be passive, in the majority of cases. .

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Nearly 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. This opens up even more chances than that which will be listed here.

Now lets have a look at some of the best ways to make passive income. A number of these are investments that will require some money to start with. Others wont need any money to begin. In case you dont have the money to invest now, try starting with the approaches that dont need any money, and then utilize that money you earn to invest. .

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Your very first financial priority must be to build up look what i found an emergency fund that can cover all of your living expenses for a few months. But dont put this money would be 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 that will earn a lot better 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 this 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. 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 whether or not you want to reinvest each of the dividends on hold on to this stock for quite a long time, or use the income generated through the dividends.

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of these shares, visit 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 paired up via a website or marketplace. Instead of going to a bank, the borrower gets a loan from an investor.

In some situations the borrower may not be able to qualify for a loan through a traditional bank. And in many cases the debtor gets a better interest rate than they could receive from a bank. As an investor, you their website can earn a great return as well.