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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. But with a few time, its possible to create enough passive income 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 you earn without putting in much effort. The money will flow in without too much being demanded of you. In some scenarios it could be long-term recurring income, and in 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 future 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 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 constantly need on-going work, either by yourself or by others which youre paying.  Selling ebooks or courses will require on-going customer service, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are individuals who have been in a position to do it passively, but they make up a small percentage of individuals who really set out to get it done.

Ive been blogging fulltime for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply dont consider them to be passive, in most cases. .

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

Now lets take a peek at a few of the greatest ways to produce passive income. A number of these are investments which will need some money to begin with. Others wont require any money to begin. If Recommended Site you dont have the money to invest now, consider 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 will cover all of your living expenses for a couple months. But dont put this money is a checking account or savings account at a look here 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 that will earn a much greater return for you.

My wife 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 1.85% APY and CIT savings accounts are earning 1.55% APY. 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 stock, or take the dividends in money. Reinvesting will let you own more stocks, which leads 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 general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest all of the dividends on hold on to the stock for a long time, or use the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of those shares, visit this collection from Dividend.com and navigate here this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent decades. Borrowers and lenders can be matched up through a website or marketplace. Instead of going to a bank, the debtor gets a loan by an investor.

In some cases the borrower may not be able to qualify for a loan via a traditional bank. And in many circumstances the borrower gets a better interest rate than they might get from a bank. As an investor, you can earn a great return as well.