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Initially you may only be making a small amount of money passively, and you may even want to re-invest that money so that it compounds and grows faster. However, with some time, its possible to create enough passive income you could quit your job or retire .

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

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

What qualifies as passive income is up for discussion. Most lists that 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 own opinion, all of them require too much effort to be considered as passive.

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

Ive been blogging full-time for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider them to be more passive, in the majority of cases. .

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Nearly 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 produce passive income. Some of them are investments that will require some money to start with. Other folks wont require any money to begin. In case you dont have the money to invest now, consider starting with the approaches that dont require any money, and then use that money you earn to invest. .

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Your very first financial priority must be to build up an emergency fund that will cover all your living expenses for a couple 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 wife and I keep 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 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 this stock, or take the dividends in money. Reinvesting will let you own more shares, 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 click now success. Because 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 all of the dividends on hold on to the stock for a long time, or use the income generated throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of those stocks, 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 years. Creditors and lenders can be matched up through a site or market. Instead of going to a bank, the debtor receives look at here a loan from 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 much better interest rate than they could get from a bank. As an investor, you can earn a great return as well.

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