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At first you may only be making a tiny amount of money passively, and you may even want to re-invest that money so it compounds and grows quicker. However, with some time, its potential to make 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 earn 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 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 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 informative article because, in my own opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or by others which youre paying.  Selling ebooks or courses will require on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are individuals who've been in a position to get it done , but they make up a small percentage of people who really set out to do it.

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

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Nearly any business can be a source of passive income if youre paying others to run the business. This is true with both online and traditional businesses. That opens up even more possibilities than that which will be listed here.

Now lets have a peek at some of the best ways to make 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 that 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 couple 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 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 1.85percent 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 for their shareholders. As a trader, you can re-invest the dividends to purchase more shares of the inventory, or navigate here take the dividends in money. Reinvesting will let you 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. As a result of this, these investments tend to be considered less risky than the stock market in general.

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

For far more detail on the subject read Investing in Dividend Stocks in 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) is becoming extremely popular in recent years. Borrowers and lenders can be matched up via a website or marketplace. Instead of going to a bank, the borrower gets 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 circumstances the borrower gets a much better interest rate than they might receive from a bank. As an investor, you can click for source earn a great return as well.