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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. However, with some time, its potential to make enough passive income that you could quit your job or retire .

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Passive income can be a bit of a divisive topic. In general, passive income is any money that you make without putting in much effort. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in some other cases it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont need as much effort in the future when youre making the money.

What qualifies as passive income is up for debate. Most lists which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts in this post because, in my own 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 by others which youre paying.  Selling ebooks or classes will require on-going customer service, plus youll need a consistent traffic supply in order to continue to create sales. It is possible and there are people who have been in a position to get it done passively, but they make up a small percentage of people who actually set out to do it.

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

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Just about 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. That opens up even more chances than that which will be listed here.

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

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Your very first financial priority should be to build up an emergency fund that can cover all your living expenses for a couple months. But dont put this money would be a checking account 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 much 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 to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in cash. 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 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 the stock for quite a long time, or make use of the income produced through the dividends.

For far more detail on the topic read Investing in see page 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) has become extremely popular in recent decades. Creditors and lenders can be matched up through a website or marketplace. Instead of going to a bank, the borrower receives a loan by an investor.

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

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