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Initially you may only be making a tiny amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. But with a few time, its possible to create enough passive income that you could quit your job or retire early.

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Passive income can be a small 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 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.

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 thoughts in this post because, in my own opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or from other people which youre paying.  Selling ebooks or courses will require on-going customer support, plus youll need a consistent traffic source in order to continue to create sales. It's possible and there are people who've been able to get it done , but they compose a small percentage of individuals who really set out to get it done.

Ive been blogging full-time for ten decades and Ive sold ebooks and courses in the past. Theyre great ways to make money, I simply dont consider these to be passive, in the majority of cases. .

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Nearly any business can be a source of passive income if youre paying other people to run the business. That is true with both online and traditional businesses. That opens up even you can find out more more chances than what will be listed here.

Now lets have a peek at some of the best ways to produce passive income. A number of these are investments that will need some money to start with. Other folks wont need any money to get started. In case you dont have the money to invest now, try starting with the methods that dont need any money, and then use that money that you earn to invest. .

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Your first financial priority must be to develop an emergency fund that can cover all your living expenses for a few months. But dont put this money would be a checking account 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 lot better 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 1.85percent APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is quick and easy, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to buy more shares of the inventory, or take the dividends in cash. Reinvesting will let you own more shares, which contributes 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 history of success. Because of this, these investments tend to be considered less risky than the stock exchange 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 a long time, or make use of the income produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. To get 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. Creditors and lenders can be matched up through a website or marketplace. Instead of going to a bank, the debtor receives a loan from an investor.

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

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