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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 that 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 .

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Passive income can be a bit of a 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 cases it might be long-term recurring income, and in 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 long run when youre making the money.

What qualifies as passive income is up for debate. Most lists that youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those ideas in this informative article 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 require on-going work, either by yourself or by other people that youre paying.  Selling ebooks or courses will require on-going customer service, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are people who've been able to get it done , but they compose a small percentage of individuals who really set out to do it.

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

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Nearly 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. This opens up even more chances than that which will be recorded here.

Now lets take a look at internet some of the greatest ways to produce passive income. A number of these are investments that will require some money to begin with. Others wont require any money to get started. If you dont have the money to invest now, try starting with the approaches that dont need 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 will cover all your living expenses for a few months. But dont put this money is 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 look at this now account with an online bank that will earn a much greater return for you.

My wife 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 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 allow you to own more shares, 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 great investment whether or not you want to reinvest each the dividends on hold on to the stock for quite a long time, or use the income produced throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these stocks, see this collection out of imp source Dividend.com and this collection from DividendValueBuilder.com.

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

In some cases the borrower might not have the ability to qualify for a loan through a traditional bank. And in many cases the borrower gets a much better interest rate than they might receive from a bank. As an investor, you can earn a great return as well.

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