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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 that it compounds and grows quicker. But with a few time, its possible to create enough passive income that you could quit your job or retire early.

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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 might be long-term recurring income, and in other instances it might be short lived or inconsistent.

In some cases 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 discussion. 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 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 require on-going work, either by yourself or from other people that youre paying.  Selling ebooks or courses will need 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've been able to do it , but they make up a small percentage of people who really set out to get it done.

Ive been blogging full-time for 10 years 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 other people to run the business. That 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 look at some of the greatest ways to make passive income. A number of them are investments which will require some money to start with. Others wont need any money to get started. In case you dont have the money to invest now, try starting with the approaches that dont need any money, and then use that money that you make to invest. .

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Your very 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 would be a checking or savings account at a local bank that 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 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 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 buy more shares of the inventory, or take the dividends in cash. Reinvesting will let you own more stocks, which leads 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 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 investment regardless of whether you want to reinvest all the dividends on hold on to the stock for a long time, or make use of the income generated through the dividends.

For much visit homepage more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these shares, 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 paired up via a site or marketplace. Instead of going to a bank, the borrower receives a loan by an investor.

In some situations 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 might receive from a bank. As an investor, you can earn a great return too.

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