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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 quicker. However, with some time, its potential to create enough passive income you could quit your job or retire early.

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

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

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 ideas in this informative article because, in my 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 others which youre paying.  Selling ebooks or classes will need on-going customer support, plus youll need a consistent traffic source in order to continue to create sales. It is 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 do it.

Ive been blogging fulltime for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to make money, I just dont consider these to be more passive, in the majority of cases. .

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Nearly any business can be a source of passive income if 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 take a peek at a few of the best ways to make passive income. A number of them are investments which will require some money to begin with. Other folks wont need any money to begin. If you dont have the money to invest now, try wikipedia reference starting with the approaches that dont need any money, and then utilize that money that you earn 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 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 account with an online bank which 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 fast and simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in cash. Reinvesting will allow you to own more stocks, which leads to more dividends in the future (ideally).

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The companies that check that consistently pay dividends tend to be large companies with a long track record 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 whether or not you want to reinvest each of 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 subject read Investing in Dividend Stocks at Investopedia. For a list of those shares, 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 years. Creditors and lenders can be paired up via a site or market. Instead of going to a bank, the borrower gets a loan from an investor.

In some situations the borrower may not be able to be eligible for a loan via a traditional bank. And in many circumstances the debtor gets a better interest rate than they might get from a bank. As an investor, you can earn a great return as well.

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