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Initially you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that it compounds and grows faster. But with a few time, its possible to create enough passive income 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 make without putting in much work. The money will flow in without too much being required of you. In some cases it could be long-term recurring income, and in other instances it might be short lived or inconsistent.

In some cases 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 which youll find online will include things such as 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 always require on-going work, either by yourself or by other people that youre paying.  Selling ebooks or classes will need on-going customer service, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are individuals who've been able to do it , but they make up a small percentage of people who really 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 simply dont consider these to be more 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. This is true with both online and traditional businesses. That opens up even more chances than that which will be recorded here.

Now lets have a peek at some of the greatest ways to produce passive income. A number of them are investments that will require some money to begin with. Other folks wont require any money to get started. If you dont have the money to invest now, try starting with the approaches that dont require any money, and then use that money you make to invest. .

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Your first financial priority should be to build up an emergency fund that will cover all your living expenses for a few special info months. But dont put this money would be 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 that will earn a much greater return for you.

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 1.85percent 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 trader, you can re-invest the dividends to buy more shares of the stock, or take the dividends in money. Reinvesting will let you 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 market in general.

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

For much go right here more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these shares, visit this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent years. Borrowers and lenders can be matched up through a website or market. Instead of going to a bank, the borrower gets a loan from an investor.

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

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