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At first you may only be making a tiny amount of money passively, and you might even want to re-invest that money so it compounds and grows faster. But with some time, its possible to create 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 make 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 instances it could be short lived or inconsistent.

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

What qualifies as passive income is up for debate. Most lists that youll find online will include things such as 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 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 others that youre paying.  Selling ebooks or courses will require on-going customer service, and youll need a consistent traffic supply in order to continue to make sales. It is possible and there are individuals who have been able to do it passively, but they compose a small percentage of people who really set out to do it.

Ive been blogging fulltime for 10 decades and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider them to be passive, in the majority of cases. .

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Nearly any business can be a source of passive income when youre paying others to run the business. This is true with both online and traditional businesses. That opens up even more chances than that which will be listed here.

Now lets take a look at a few of the greatest ways to make passive income. A number of these are investments which will need some money to begin with. Other folks wont require any money to begin. If you dont have the money to invest now, consider starting with the approaches that dont need any money, and then you could check here utilize that money you earn to invest. .

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Your first financial priority should be to develop an emergency fund that can cover all your living expenses for a couple months. But dont put this money would be a checking account or savings account at a local bank that 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 wife 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 the original source 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 purchase more shares of the stock, or take the dividends in money. Reinvesting will allow you to 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 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 terrific investment regardless of whether you want to reinvest all the dividends on hold on to the you can look here stock for a long time, or use the income produced throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks at 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. Creditors and lenders can be matched up through a website or market. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower might not have the ability to be eligible for a loan through a traditional bank. And in many circumstances the debtor 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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