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At first 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 faster. But with some time, its potential to make 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 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 some other instances it could be short lived or inconsistent.

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

Exactly what qualifies as passive income is up for discussion. Most lists which 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 opinion, they all require an excessive amount of effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or from other people which youre paying.  Selling ebooks or classes 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 people who've been able to get it done passively, but they make up a small percentage of people who really set out to get it done.

Ive been blogging fulltime for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I simply dont consider these to be passive, in most cases. .

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Just about any business can be a source of passive income when 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 have a look at some of the best ways to make passive income. Some of them are investments which will need some money to start with. Other folks wont need any money to begin. If you dont have the money to invest now, consider starting with the methods that dont need any money, and then utilize that money you make to invest. .

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Your first financial priority must be to develop an emergency fund that will cover all of your living expenses for a few months. But dont put this money would be a checking or savings account at a local bank which pays you a horrible interest rate. You can open look at this website 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 simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to purchase more shares of this inventory, 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 Discover More Here track record of success. As a result of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a great investment regardless of whether you want to reinvest all the dividends on hold on to this stock for 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 stocks, visit this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) has become extremely popular in recent decades. Borrowers and lenders can be matched up via a website or market. Instead of going to a bank, the borrower gets a loan by an investor.

In some cases the borrower may not have the ability to qualify for a loan via a traditional bank. And in many cases the borrower gets a much better interest rate than they could receive from a bank. As an investor, you can earn a good return as well.

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