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

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 could be long-term recurring income, and in some 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 as much effort in the future when youre making the money.

Exactly what qualifies as passive income is up for debate. 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 post because, in my opinion, they all 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 others which youre paying.  Selling ebooks or courses will need on-going customer support, and youll need a consistent traffic source in order to continue to create sales. It is possible and there are individuals who have been in a position to do it , but they make up a small percentage of individuals who actually set out to get it done.

Ive been blogging full-time for 10 decades and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider these to be passive, in the majority of 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. This is true with both online and traditional businesses. That opens up even more possibilities than what will be listed here.

Now lets take a look at a few of the best ways to produce passive income. A number of these are investments which will require some money to begin with. Other folks wont require any money to begin. If you dont have the money to invest now, try starting with the methods that dont need official source any money, and then utilize that money that you earn 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 couple months. But dont put this money would be a checking 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 that will earn a much better return for you. check this site out

My spouse 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 1.85% APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is quick 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 purchase more shares of the inventory, or take the dividends in cash. Reinvesting will allow you to own more stocks, 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 track record of success. Because of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest all of see the dividends on hold on to the stock for quite a long time, or make use of the income produced through the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these stocks, visit 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 decades. Borrowers and lenders can be matched up through a site or marketplace. Instead of going to a bank, the debtor gets a loan by an investor.

In some cases the borrower might not be able to be eligible for a loan via a traditional bank. And in many cases the debtor gets a better interest rate than they might receive from a bank. As an investor, you can earn a good return too.