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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. But with a few time, its potential to make 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 that you earn without putting in much work. The money will flow in without too much being demanded of you. In some scenarios 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 as much effort in the long run when youre making the money.

Exactly 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 ideas 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 by others that youre paying.  Selling ebooks or classes will need on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are individuals who have been in a position to do it , but they compose a small percentage of individuals who really set out to get it done.

Ive been blogging full-time for ten years and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I simply 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 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 a few of the best ways to make passive income. Some of them are investments which will require some money to start with. Other folks wont require any money to get started. If you dont have the money to invest now, consider starting with the approaches that dont require any money, and then utilize that money you make to invest. .

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Your very first financial priority should be to build up an emergency fund that can cover all of your living expenses for a couple months. But dont put this money is 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 click this site much greater return for you.

My spouse 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 1.85percent 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 why not try this out for their shareholders. As a trader, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in cash. Reinvesting will let you own more stocks, 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 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 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 generated through the dividends.

For much more detail on the topic 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. Borrowers and lenders can be paired 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 be able to qualify for a loan through a traditional bank. And in many circumstances the borrower gets a better interest rate than they could receive from a bank. As an investor, you can earn a great return as well.

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