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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 faster. 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 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 required of you. In some scenarios it could be long-term recurring income, and in some 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 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 an excessive amount of effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or from other people that youre paying.  Selling ebooks or classes will require on-going customer service, plus youll need a consistent traffic supply in order to continue to make sales. It is possible and there are individuals who have been able to get it done , but they make up a small percentage of individuals who actually set out to do it.

Ive been blogging fulltime for 10 years and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider these to be passive, in most cases. .

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

Now lets have a peek at a few of the greatest ways to produce passive income. Some of these are investments that will need some money to start with. Other folks wont require any money to get started. In case you dont have the money to invest now, try starting with the approaches that dont require any money, and then utilize that money that you earn to invest. .

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Your very first financial this website priority should 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 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 better 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 1.85% 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 shareholder, 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 shares, 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. 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 he has a good point this stock for a long time, or make use of the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. To get a list of these shares, visit 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 visit homepage be paired up through a website or marketplace. Instead of going to a bank, the debtor gets a loan from 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 debtor gets a better interest rate than they could receive from a bank. As an investor, you can earn a great return as well.