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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 faster. But with some time, its potential to create enough passive income you could quit your job or retire early.

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Passive income can be a bit of a 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 could be long-term recurring income, and in some 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 future when youre making the money.

What qualifies as passive income is up for debate. Most lists which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts 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 need on-going work, either by yourself or from other people 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 create sales. It's possible and there are people who've been in a position to get it done , but they compose a small percentage of people who actually set out to do it.

Ive been blogging fulltime for 10 decades and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider them to be passive, in most 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 possibilities than what will be listed here.

Now lets have a look at a few of the best ways to produce passive income. A number of these are investments that will require some money to begin read review with. Others wont require any money to get started. In case you dont have the money to invest now, consider starting with the methods that dont need any money, and then utilize that money that you make to invest. .

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Your very first financial priority must be to develop an emergency fund that will cover all of your living expenses for a couple 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 a high yield savings account or money market account with an online bank that will earn a much 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 1.85percent 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 money. Reinvesting will let you own more stocks, 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 history 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 stock for quite a long time, or make use of the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these stocks, 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 decades. Borrowers and lenders can be paired up via a website or visit the website market. Instead of going to a bank, the debtor receives a loan from an investor.

In some situations the borrower may not be able to qualify for a loan via a traditional bank. And in many circumstances the debtor gets a 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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