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

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 could be long-term recurring income, and in other cases it might 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 future 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 other people which youre paying.  Selling ebooks or classes will need on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are people who've been able to do it , but they make up a small percentage of individuals who actually set out to do it.

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 them to be more passive, in the majority of cases. .

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

Now lets have a peek try this web-site at some of the best ways to make passive income. Some of them are investments which will need some money to begin with. Other folks wont require any money to begin. In case you dont have the money to invest now, try starting with the methods that dont require any money, and then use that money that you make to invest. .

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Your very first financial priority must be to build up an emergency fund that can cover all of your living expenses for a few months. But dont put this money is a checking account or savings account at a local bank which pays you a terrible interest rate. You can open a high yield savings account or money market account with an online bank that will earn a much linked here better 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 1.85% APY and CIT 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 for their shareholders. like this As a shareholder, you can re-invest the dividends to buy more shares of the inventory, or take the dividends in cash. Reinvesting will allow you to 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 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 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 throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these shares, see 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 paired up via a website or market. Instead of going to a bank, the borrower receives a loan by an investor.

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