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Initially 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 make enough passive income that you could quit your job or retire .

Passive income can be a small 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 required of you. In some scenarios it could be long-term recurring income, and in other instances it could be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont require 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 informative article because, in my opinion, all of them require too much effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or from other people which youre paying.  Selling ebooks or classes will need on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are people who've been in a position to do it , but they make up a small percentage of people who really set out to do it.

Ive been blogging full-time for 10 years and Ive sold ebooks and courses in the past. Theyre great ways to make money, I just dont consider these to be passive, in most 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. That is true with both online and traditional businesses. That opens up even useful content more possibilities than that which will be recorded here.

Now lets take a peek at a few of the best ways to make passive income. Some of them are investments which will need some money to start with. Others wont require 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 use that money 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 few months. But dont put this money is a checking account or savings account at a local bank which pays you a horrible 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 to their shareholders. As a shareholder, you can re-invest the dividends to buy more shares of this inventory, or take the dividends in money. Reinvesting will let you own more stocks, 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 exchange in general.

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

For far more detail on the subject read Investing in Dividend Stocks at Investopedia. To get a list of those stocks, see 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 site 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 receive from a bank. As an investor, you can earn a good return too.